Encouraged by significant increase in net profit for Q3, the Andhra Bank is now eying of business growth of 23 per cent in the eastern region for the current financial year. The bank did total business worth Rs 95,770 crore till December 2008 and now sets a target to increase its business to Rs 100 thousand crore by the end of this financial year.

Ramakrishnan K S, Zonal manager, Andhra Bank said that bank expects business worth Rs 150000 crore by September 2010. The bank has initiated various measures to increase current account and saving accounts (CASA) deposits.

The bank would expand its presence in West Bengal by opening four new branches. It has already 23 branches in the state.

The bank has also announced two new deposit schemes AB Privilege Salary and AB Premium Current Account in Orissa. It would launch gold coins in the denominations of four, eight and 10gm of 24 carat pure gold from February 2 at its various centers including Bhubaneswar, Cuttack, Berhampur, Jatni, Rayagada, Parlakhemundi, Sambalpur, Rourkela and Aska.

The deputy general managerof bank, SRK Prasad said that the bank would soon introduce online trading at its main branch and start more people friendly investment schemes in the current quarter.