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Bank achieves steady progress

Staff Reporter

TIRUMALA: The Chairman and Managing Director of Andhra Bank,

T.S. Narayanasami, said that the steady progress being registered by the bank in the recent times has enabled it cross the targeted Rs. 45,000 crores, turnover mark for the financial year ending March 2005.

Talking to mediapersons, Mr. Narayanasami said that, effective management of available resources has helped the bank in achieving a commendable Net Interest Margin. The bank also stands at the top in terms of having lowest Gross Non-performing Assets (GNPA).

Attributing the cause to the close monitoring of the existing accounts and ensure that they don't slip down into NPA's besides negotiated settlements have further contributed in bringing down the NPA's.

Earlier, Mr. Narayanaswami participated in the inaugural function of the local Andhra Bank branch which was shifted to its new premises -- Balaji Banking complex. The TTD executive officer, A.P.V.N. Sharma inaugurated the new bank premises.

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