Citizen Bank deposits cross 1,325 cr mark in Kakinada

Kakinada: Citizen Bank Cooperative Society Ltd managing director KV Subbayya on Friday said that the bank has so far collected Rs 1,325 crore deposits and provided loans worth Rs 1,000 crore.

Addressing the media here, he said that the bank is offering dividends to shareholders. There are over 70,000 members linked with 42 branches in six states. The bank made a profit of Rs 45 crore by the end of March.

Citizen Bank has been recognized as the best society by the Government of Andhra Pradesh. "We are happy to be recognized as India's third largest Multistate Cooperative Society," he said. The bank will be the first in the district to build a multi-storey building in front of Anandabharati to provide more services to the public.

Citizen Bank director J Satyanarayana said that the Kakinada branch has crossed Rs 100 crore business and now, it has Rs 55 crore worth deposits and loans to the tune of Rs 50 crore were given. He said that special arrangements have been made to provide banking services continuously. Vice-chairman PRVPS Rangaraju said the bank is constantly working to complete the bank's new building within four months.