In Andhra Pradesh, Visakhapatnam Co-operative Bank has 32 branches and now it is set to open three more branches in the State. It plans to further expand operations by 2016, its centenary year.
This was disclised by M Anjaneyulu, the bank's outgoing Chairman. Raghavendra Rao is taking over as the bank’s new chairman. Anjaneyulu assumed office in 1983 when there was only one branch. Now, the bank has extended its operations to almost all the coastal districts besides Hyderabad, he said in Visakhapatnama on October 12.
The bank will open branches in a month or two at Kakinada and Pithapuram in East Godavari district and Machilipatnam, the headquarters of Krishna district. It has already obtained RBI licences for the three branches. The banks has also applied for three more licences for branches at Guntur, Vijayawada and one more branch in Hyderabad in addition to the existing two, he said.