Allahabad bank to expand branches

COIMBATORE: Public Sector Allahabad Bank has set a target of adding 155 branches and 500 ATMs across the country this fiscal, besides a branch in Bangladesh, a top bank official said today.

Of this, three branches would be opened at Namakakal, Tirunelveli and Thanjavur in Tamil Nadu, which has 51 branches at present, Bank's Executive Director,M R Nayak told reporters after opening its 2,459th branch at Kalapatti in the city.

Having a branch in Hongkong and a representative office in China, the Bank is awaiting clearance for starting a branch in Bangladesh, he said, adding, there were also plans to strengthen Bank's presence in Chennai, Hyderabad, Punjab and Bangalore, to tap business potential by opening more branches.

Stating that the focus of business in Tamil Nadu would be on SME/ MSME, retail loans and agricultural loans, Nayak said the bank has a predominant presence in textile clusters, with over rs.250 crore business volume in Tirupur branch.

Source: EconomicTimes