The Andhra Pradesh-based Maharaja Cooperative Urban Bank marked a significant milestone on Wednesday by inaugurating its 10th branch in the Anakapalli district.
The inauguration ceremony was graced by former Union Minister of Civil Aviation, Ashok Gajapathi Raju, who officially opened the branch.
The event was attended by several local dignitaries, including the MLA and the bank’s Chairman, Rama Krishnam Raju.
The newly opened branch is designed to cater to the financial needs of the local community and has been equipped with state-of-the-art facilities to ensure seamless banking services for its customers.
Speaking on the occasion, Chairman Rama Krishnam Raju highlighted the bank’s growth trajectory and its commitment to customer-centric banking. “This branch reflects our vision of expanding our presence while offering modern banking solutions tailored to the needs of our customers. We aim to bring banking services closer to underserved areas,” he stated.
As of March 31, 2024, the bank’s deposits stood at an impressive Rs 265.96 crore, with advances amounting to Rs 177.33 crore. The bank achieved a net profit of Rs 3 crore during the fiscal year.
The event concluded with a ribbon-cutting ceremony and a tour of the new branch, showcasing its facilities to the attendees. The bank has plans to continue its expansion and introduce innovative banking products to cater to the evolving needs of its customers.
