Indian overseas bank planning to expand its banking network in Andhra Pradesh. The bank has decided to start up 40 new branches in the state in this year.
During the launch of new IOB connect credit card for the students the general manager of the bank reported that the bank is currently having 240 branches in the state, and this year they will have 280 branches by adding 40 new branches to the state.
He further stated that the 10 branches will be operational by the end of March. The bank will have a total business of approximately Rs 35000 crore, from the banks in the state, while it will be around 4.25 lakh crore from the banks in Chennai.