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Andhra Bank expanding Kerala biz 3 fold

Andhra Bank is expanding its business in Kerala. The bank is to looking to enhance its total business in the state to Rs 5000 crore in the next three years from the current level of Rs 2000 crore. The bank will also expand its branch network from present 32 to 75 during this period. Ajit Rath, ED of the bank, said the bank’s share in the total banking activities in the state is 1%. The bank wants to raise this to 3%, a market share it had nationally. The focus in the state will be retail loans, particularly in the SME sector, said Rath, adding, of the total credit exposure in the state, 50% is for SMEs currently. The bank has been able to reduce the gross NPA ratio to 1.94 by the end of June 2015 from 3.45 in a year in the state.

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