Andhra Bank to implement Core Banking in all branches

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Tirupati, Oct 16 (UNI) Andhra Bank would introduce Centralised Core Banking Solution (CCBS) in all its branches by the end of the current financial year, it's Chairman and Managing Director R S Reddy said today.

Addressing a press conference here, he said in 300 branches of the bank, Core Banking was already implemented, allowing customers net banking, anytime banking, e-payment and mobile banking. By March 2009 this facility would be extended to the remaining branches.

The bank aimed at achieving a business target of Rs 1 lakh crore by March next, he added.

The Bank's business recorded a growth of 15.02 per cent to reach Rs 86,183 crore as on September 30, 2008 as against Rs 74,928 crore for the corresponding period last year, he said.

He said the total deposits of the bank have shown a growth of 13.63 per cent and stood at Rs 50,489 crore as on September 30,2008, against Rs 44,434 crore for the corresponding period last year.

The Bank has extended Rs 916.73 crore agriculture debt waiver and debt relief to 48,2854 farmers, he added.

The Bank projected a growth rate of 21.6 per cent under deposits and 24.7 per ceny under advances for the current financial year, in tune with the growth rate projected for the industry, he said.


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