Special Correspondent

HYDERABAD: Pune-based Bank of Maharashtra plans to open four or five branches in Andhra Pradesh in the next fiscal, Executive Director Rajiv Madhok, announced here on Thursday.

He told presspersons that surveys had been conducted for opening branches at Kondapur, Ongole and Miyapur. The branch at Kondapur would be launched before March 31 this year.

The bank, he stated, already had 30 branches in the State and its business was worth Rs.1,500 crores.

Its focus was on infrastructure finance, with the funding going to several Government undertakings, including Transco, AP Genco, AP Forest Development Corporation and AP Housing Finance Corporation.

The bank recently signed an MoU with the LIC for life products.