Aryapuram Bank to open new building tomorrow

Rajamahendravaram: The Aryapuram Cooperative Urban Bank Limited entered into centenary year. Saripella Visweswara Rao started the bank on December 30, 1918 in the historical city.Speaking to the reporters on the bank premises here on Thursday, the bank chairman, Challa Shankar Rao said that the bank’s new head office building would be opened
on May 12. The building was constructed with an estimated cost of Rs 4 crore and it was constructed under BT technology.

So far, the bank obtained A grade by Reserve Bank of India which is first of its kind in the state, he claimed.“At present, the bank is having deposits to a tune of Rs 936 crore which will be increased to Rs 1,000 crore shortly. The existing body assumed charge during December 2013 and at that time the deposits were only Rs 595 crore. The bank branches increased to 17 from nine branches. 

The new body started branches in Danavaipeta, Guntur, Amalapuram and Bhimavaram. The Gajuvaka branch will be opened shortly,” he added.

He informed that core banking system was introduced for the benefit of its customers. The customers can use its ATM card in any other bank and the management was trying to provide more facilities to the customers.

Deputy Chief Ministers Nimmakayala Chinna Rajappa and KE Krishna Murthi along with Ch Aynnapatrudu, Ch Adinarayana Reddy and many others would participate in the inaugural function of the centenary building.

Vice-chairman Ayyala Gopi, directors, secretary G Sudhakar Rao, assistant general manager Nageswara Rao and others were present.