Monday, June 15, 2009

Andhra Bank achieves business of 1 lakh crore

Andhra Bank has achieved a business of Rs one lakh crore in the last financial year and was planning to put a target of mobilising Rs 1.2 lakh crore by March and Rs 1.5 lakh crore by September next year, Chairman and Managing Director of Bank R S Reddy said today.

Talking to newspersons here, after inaugurating new premises of Andhra University Campus branch in the city, he said performance of the bank was significant last year as it was the result of our attempt to transform it using the four factors of technology, product process and Human Resource Management.

The new technology was used to bring all the 1,432 branches, extension counters and service centres under the Core Banking Solutions(CBS) and offer new products like internet, SMS alerts and mobile banking to the customers, he said.

Andhra Bank would open 122 new branches this year, out of which only eight branches would be opened in Andhra Pradesh and rest outside the state, he said.

In association with Bank of Baroda and Indian Overseas Bank, the bank would open a branch in Malayasia to increase its global presence, he added.

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