The Visakhapatnam Cooperative Bank is one of the successful urban cooperative banks in the South whose business has already exceeded Rs. 2800 crore. The bank has decided about a major expansion program.
It has 30 branches altogether but would soon have some more branches. It is planning to cover all the coastal areas with its branches.
Sources claim, the Visakhapatnam headquartered bank is likely to begin the process of expanding business even into the non coastal districts in a big way across the state in the days ahead. The bank is doing well and its NPA is as low as 0.36 per cent, add the sources.
Officials associated with the Visakhapatnam bank, however, take a dim view of the govt policies towards the cooperative banking sector and call for a comprehensive conversation on the matter.