Syndicate is planning to open 100 branches in Andhra Pradesh during the current financial year.
“We feel that there is lot of business potential in Andhra Pradesh which can be harnessed by us,’’ Mr M. Anjaneya Prasad, Executive Director, Syndicate Bank, told newspersons here on Monday.
The Bangalore-based bank has the largest network in the State after Karnataka with 419 branches out of a total of 2,700 branches.
“We still need to expand as there are many happening places in semi-urban and tier II locations as our market share in Andhra Pradesh is only 5 per cent,’’ Mr Prasad said.
At present, Andhra Pradesh contributes Rs 30,000 crore to the bank’s total business which was at Rs 2,83,558 crore as on March 31, 2012.
By the end of current financial year, the target for total business has been pegged at Rs 40,000 crore.