Visakhapatnam  : 

Since its inception in 1980, the Kakinada Co-operative Town Bank Limited has been making profits, and deposits crossed `351.94 crore by September-end, said Ch Raveendra, chairman of the bank.

Visakha Dairy chairman Adari Tulasi Rao and Daspalla Hotels Group managing director M Raghavendra Rao inaugurated the bank’s second branch at Gajuwaka here Thursday. The bank chairman told the gathering that the total advances of the bank had reached `232.82 crore.

The bank registered a net profit of `3.01 crore in the first half of the current fiscal. On the bank’s net NPA, Raveendra said that it was 1.03 per cent. The bank plans to open four more branches – two in Visakhapatnam, one in Guntur and another in Vijayawada, he added.

source: http://www.newindianexpress.com / The New Indian Express / Home> States> Andhra Pradesh / by Express News Service / October 10th, 2014