Coastal local area bank opens 52nd branch

Vijayawada: Coastal Local Area Bank Chairman AN Appaiah on Wednesday said the bank is introducing new schemes aimed at providing essential services to farmers and the common public, on par with corporate banks and internet banking services will be launched shortly to enhance customer convenience.

The bank inaugurated its 52nd branch near Hindu High School in One Town here. The branch was opened following traditional rituals by Chairman AN Appaiah, Managing Director B Venugopala Reddy, Director Nataraj, Regional Manager T Ramakrishna, and Branch Manager AVN Krishnaprasad.

Speaking on the occasion, Appaiah said the bank plans to expand its network from the existing 52 branches to 55 branches by the end of this year, and add 15 more branches next year. With approval from the RBI, the bank is also extending its services to Prakasam and Vizianagaram districts in Andhra Pradesh and Khammam district in Telangana. Managing Director B Venugopala Reddy said the bank is offering extended services till 6 pm, beyond regular banking hours.

Later, school bags, rice, and essential commodities were distributed to orphan girls of SKCV Children Trust. Nalanda Educational Institutions Chairman A Vijaya Babu, Chief Operating Officer Hemanth Kumar, and staff members were present.