Allahabad Bank has opened its 2,459th branch at Kalapatti in Coimbatore, making it the second branch in the city and 51st in the state of Tamil Nadu. Kalapatti branch in Coimbatore was formally inaugurated by bank's Executive Director, M R Nayak. The bank is planning to expand its branch network in south India.
It aims to open three more branches at Namakkal, Thanjavur and Tirunelveli. It’s business in Tamil Nadu during the first half of the current fiscal rose to Rs 5,128 crore including deposits of Rs 1,925 crore and gross credit of Rs 3,263 crore.
This fiscal bank intended to add 155 branches and 500 ATMs to its network. It will also strengthen its presence in Bangalore, Chennai, Hyderabad and Punjab where there is scope to open more branches and tap business potential. Allahabad bank is also looking to spread its wings overseas. The bank already has a branch in Hong Kong, a representative office in China.
