Andhra Bank, a public sector lender, is reportedly planning to open 450 new branches across the country during current fiscal. Recently, the bank had inaugurated its 2000th ATM in the Punjagutta area of western Hyderabad. Along with ATMs, self cash depositing machines, pass book printing kiosks are installed to make all the basic banking services available to the customers round the clock.
The bank’s net profit for first quarter ended June 30, 2014 declined by 53.74% at Rs 107.00 crore as compared to Rs 231.28 crore for the quarter ended June 30, 2013. However, the bank’s total income has increased by 9.14% to Rs 4205.06 crore for the quarter under review from Rs 3854.16 crore for the corresponding quarter of the previous year.
