Return
to Story Page
To print: Select File and then Print from your
browser's menu
FE NEWS SERVICE
HYDERABAD, Nov 27: Andhra Bank has decided to put on hold the earlier plan to go public for the time being, according to T J A Ganiga, the chairman and managing director of the bank. ``Though we have plans earlier, we have now decided not to go public in the near future,'' he said at a press conference here on Friday.
The bank is comfortable with the present capital adequacy ratio, hence there is no need for an issue, he added. The bank is opening its 1000th branch at Nizams' Institute of Medical Sciences (NIMS) on Saturday to coincide with the valedictory function of the platinum jubilee celebrations of the bank.
Ganiga said that the bank has plans to open 100 more branches in the coming two years, while as of now, it has 777 branches in Andhra Pradesh. Apart from the branches, the bank has 84 extension counters and 44 satellite branches. According to Ganiga, as the bank had attained the autonomy status, it had become independent to open any number of branches.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
------------------------------------------------------------
This story was printed from Net Express located at http://www.expressindia.com. Net Express provides a portal to India, with news from The Indian Express and The Financial Express along with sites on travel and tourism, the entertainment industry, the power sector, the environment and much more.
------------------------------------------------------------