Allahabad Bank has announced the opening two more district headquarter branches at Nellore and Anantapur taking the number of its branches in the State to 45 total number of branches to 2,536 in the country.
The new branches were inaugurated on Saturday by Bank Chairman & Managing Director J.P Dua. Chet Ram Verma, Zonal Head and other senior executives of the Bank were present.
Speaking on the occasion, Dua said that the bank has taken a drive to strengthen its presence in southern States and looking into the business potential available in Andhra Pradesh. The Bank will be opening three more branches in the State very shortly and another 20 next year, he added.
Dua said that the Bank Business in the State has shown tremendous growth, with a focused approach for making credit available to all the sectors like agriculture, micro and small enterprises, retail and infrastructure, he said, adding that the Bank in southern States has achieved record business of Rs 18,778 crores — deposits being Rs 9,817 crores and credit Rs 8,961 crores at the end of 2011-12 financial year.
Dua said the Bank was aiming at youth and next-generation customers by providing tech-savvy services, including alternative delivery channels like ATMs, Mobile and Internet Banking. Stating that the Bank has also taken several initiatives for IT-based products and will be launching e-stamping in Karnataka shortly, he said that the Bank had launched Prepaid Gift Cards and-co branded Amex Credit Card as a value added service to its customers. It also started merchant acquiring business through POS (point of sale) machines in a big way, he added.
He also said that the bank has launched Akshay Krishi-Kisan credit card scheme for fulfillment of financial needs of farmers and Self-Help Groups. All Bank Aashiana scheme (a new Home Loan Scheme) and All Bank Dream Car Scheme have been launched with attractive features. The Bank will be opening an exclusive Housing Loan cell at Gachibwoli. The Bank was also eying a large stake in a Gold Loan portfolio in Andhra Pradesh, he added. (NSS)