The Visakhapatnam bank has a network of 35 branches with deposits of Rs. 1,905.85 crore and advances of Rs. 1,264.13 crore. The bank’s share capital stands at Rs. 92.33 crore boasting nearly half a lakh members. The bank has raked it a profit of Rs. 14.64 crore in , during the current year.
As per the report made public by the bank, the bank’s NPA counts 1.36 percent of the advances. Following the division of Andhra Pradesh the bank has amended its bylaws and transformed itself into a multi-state entity.
The AGM adopted condolence resolutions on the recent demise of the bank’s director and scores of shareholders.