Andhra Bank is targeting a total business of Rs 10,000 crore from its operations in Odisha by the end of FY15. The public sector bank has already achieved business of Rs 9,200 crore in the state by the end of September. This includes Rs 6,721.04 crore deposits and advances worth Rs 2,465.08 crore.
With 145 branches in the state under Bhubaneswar and Berhampur zone, the bank intends to scale up its network to 200 branches by the end of next fiscal and eventually take it to 300 branches. Andhra Bank’s agricultural advances stood at 18.02 percent of its total advances in the state.
During 2013-14, the bank has already disbursed Rs 176 crore under crop loan and Rs 54 crore under term loan. Its MSME (micro, small and medium enterprises) advances were 35.37 percent to total advances.
