Andhra Pradesh - Anantapur   

Andhra Bank customers’ meet tomorrow

ANANTAPUR: The Andhra Bank will conduct customers’ meet in all its 1,432 branches across the country on May 27 to commemorate the occasion of crossing Rs. 1 lakh crore business.

The bank will utilise the occasion to thank the customer without whose support it was not possible to reach the present stage.

Chief Manager of the New Town branch of the bank here K.V. Somaraju told newspersons on Monday that the bank had also completed 100 per cent core banking facility in record nine months time. The introduction of core banking system would enable the bank its customers offer the net banking facility and mobile alerts.

The bank had also introduced instant debit card issuance system from April this year and launched sale of pure gold in the form 10 gram, 8 gram and 4 gram coins.

The bank had introduced premium current account recently wherein the consumers would get 15 per cent concession on service charges as they would maintain Rs. 1 lakh balance.

The health insurance policy offered by the bank in association with the United India Insurance Company had the lowest premium in the market and the coverage was from Rs. 50,000 to 5 lakh. The bank had achieved Rs. 1,03,880 crore business during 2008-09 and earned a net profit of Rs. 653 crore. It had also announced 45 per cent dividend to its shareholders this year.

The New Town branch set up in 1970 had Rs. 110 crore business with Rs. 90 crore deposits and Rs. 24 crore advances.

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