Andhra Bank has declared that they have got plans to double their business in the state of Gujarat within a span of two years. Announcing this today, Mr. R. Ramchandran, The Chairman and Managing Director of the Bank said that this will be possible because of huge business expansion planned in Gujarat within a span of next two years.
The state has planned massive infrastructure investment in the field of ports, power and chemical industry within a span of next two years. Andhra Bank already has a business base of Rs 2000 crore in Gujarat and they are planning to double it within a span of next two years.
The Andhra Bank will focus on getting business from small units as they will be able to get huge business from the big industries which have planned to open their unit in this rich industrial state. The bank will be able to achieve their target if they are able to get 2-3% of the business generated by the small units in Gujarat. At present, Andhra Bank has got around 18 branches in Gujarat and they are planning to open two more in Gujarat in the next few months.