Andhra Bank expects 33% growth in Chennai zone

Andhra Bank expects its Chennai zone to register a growth of 33 per cent during the current fiscal. The bank expects its total business to grow by Rs 500 crore to Rs 2,680 crore in 2004-05.

Addressing mediapersons on the inauguration of the bank's 44th branch in Chennai, TS Narayanasami, chairman and managing director of Andhra Bank, said: "The bank will add seven branches in Tamil Nadu "� one each at Panruti, Gobichettypalyam, Marthandam, Karaikkal, Srirangam, and two branches in Chennai," adding, "The Chennai zone's total priority sector lending was Rs 215 crore and the credit deposit ratio was over 100 per cent."

Andhra Bank's Chennai zone includes branches in Tamil Nadu and one branch in Pondicherry. The zone's advances to medium and large scale industries was placed at Rs 595 crore.

Under the personal banking segment, the zone had advanced about Rs 160 crore, while the export credit was Rs 182 crore in 2003-04.