The bank plans to expand its network by opening over 100 branches in the next five years. In the current year the bank plans to open at least 25 branches.

The bank has a strong presence in Andhra Pradesh with 65 per cent of branches spread in the state. During the year in review, the bank has added 25 new branches and upgraded 12 extension counters apart from opening 14 new counters. At present, the bank has a net work of 1,006 branches, 87 extension counters, 38 cluster brnches spread over 17 states and two union territories.

For the financial year ended March 31, 1999, the bank has posted net profit of Rs 90.04 crore, against Rs 75crore in the last year. The total business of the bank has reported a growth rate of 33.67 per cent to Rs 15,216 crore, while the deposits have grown by 31.79 per cent to Rs 10,439 crore.

On the recovery front, the gross non-performing assets as a percentage to gross advances have come down to 9.42 per cent against 9.86 per cent in the previous year.