Public sector lender, Andhra Bank is reportedly planning to open 500 new branches during 2014-15 across the country, out of which 15 branches will be opened in Andhra Bank. Further, the bank has decided to open new branches in Andhra Pradesh on BC road and in Vizianagaram district by end of March 2014.
Meanwhile, the bank is also planning to open SME Express and Retail Express branches in Andhra Pradesh for speedy disposal of the proposals within seven days for retail loans and 15 days for SME loans.
Andhra Bank has reported 82.27% fall in its net profit at Rs 45.57 crore for third quarter ended December 31, 2013 as compared to Rs 257.09 crore for the same quarter in the previous year. However, total income of the bank has increased by 12.49% at Rs 3900.54 crore for quarter under review as compared to Rs 3467.57 crore for the quarter ended December 31, 2012.
