Andhra Bank targets Rs one lakh crore business

Vijayawada, Jun 9 (UNI) Andhra Bank has targetted to cross Rs one lakh crore business by September 2009 as against the Rs 85,000 crore achieved at the end of March 2008, bank Chairman-cum-Managing Director Dr K Ramakrishnan said today.

Talking to UNI here, he said the bank's immediate priority was to provide Core Banking Solutions (CBS) in all its branches in two phases.

Out of the 1,368 bank branches, 44 branches had the CBS facility and it would be extended to 500 branches by 2009 in the first phase, he said.

He said 84 new branches and 200 ATMs would be opened this year.

The bank had extended loans to agriculture sector worth Rs 6,108 crore last year and it would be increased to Rs 7,000 crore this year, he said.

To a question on opening new offices abroad, Dr Ramakrishnan said a new representative office would be opened in New Jersey, US, shortly and it would be the second one abroad, after the one in Dubai.

Speaking on the debt waiver scheme announced by the Centre, he said that as per the instructions issued by Union Finance Minister P Chidambaram to prepare a list of beneficiary-farmers by June 30, the bank would prepare the list before the end of this month.

The debt waiver scheme would cost Rs 1,200 crore to the bank, he added.

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