Visakhapatnam: Vijaya Bank has plans to open 50 more branches in Andhra Pradesh in the next couple of years in addition to the present 115 branches, the bank’s Executive Director B.S Rama Rao said here on Monday.
Talking to reporters after inaugurating a branch at Narsipatnam in the district, he said 15 of these branches would be set up during the current financial year. The total number of branches in the country till date was 2033 and the business volume stood at Rs 2,30,184 crores as on March 31 this year, with Rs 1,32,983 crores being deposits and the rest advances, he disclosed. He said that the bank was making efforts to touch the Rs 3 lakh crore mark as the next milestone.
The non-performing assets (NPA) figure of the bank was the lowest among public sector banks, with gross NPA being 6.59 per cent and and net NPA 4.36 per cent. The bank posted net profit of Rs 750.48 crores as on March 31, Mr. Rama Rao said..
The bank had lent Rs 500 crores to the Visakhapatnam steel plant- Rashtriya Ispat Nigam Limited, he revealed, adding that the total business volume in Andhra Pradesh stood at Rs 11,000 crores.
Vijaya Bank was adopting girl children from economically weaker sections and it had also set up a rural health centre for the poor at Burugupudi village in East Godavari district, he said.
Vijaya Bank to open 50 more branches in Andhra Pradesh
