Andhra Bank, a public sector lender, is planning to open over 450 branches to take its total network to over 3,000 branches by March 2016. Over 75 per cent of the new branches will be located outside Andhra Pradesh and Telangana as the bank expands its presence. All the new branches will have e-banking lobby with automated cash deposit/withdrawal facility, internet banking, and passbook printing facilities.
The bank reported 89.27% rise in its net profit at Rs 202.52 crore for the quarter as compared to Rs 107.00 crore for the same quarter in the previous year. Total income of the bank increased by 7.71% at Rs 4529.23 crore for quarter under review as compared to Rs 4205.06 crore for the quarter ended June 30, 2014.
