Andhra Bank has opened its fifth new generation branch under an initiative named ‘Project Navashakti’ in Hyderabad. The bank aims to open 250-300 such branches in about a year. These branches are for both customers, who can carry out transactions on their own in a spaciously designed 24/7 e-banking enclosure, as well as others who prefer to be guided. The bank aims to tap into the young customer segment that is tech savvy and prefer decongested and modern ambience.
The bank has registered 3.50% fall in its consolidated net profit at Rs 1284.54 crore in FY13 as against Rs 1331.18 crore in previous years. However, total income of the company has increased to Rs 14542.30 crore, up by 15.36% as compared to Rs 12605.76 crore in FY12.
