Visakhapatnam Co-operative Bank (VCB) will set up five new branches during the current fiscal taking its total number of branches to 35.

Announcing that the bank, which has its head office in the city, was trying to open its branches in all the coastal areas, VCB Chairman Manam Anjaneyulu told reporters here on Thursday that they were starting a branch here at Kancharapalem on Sunday as part of its expansion programme. New branches will be opened during the year at Tagarapuvalasa in Visakhapatnam district, Pithapuram and Kakinada in East Godavari and Machilipatnam in Krishna district. He said the bank had achieved a business turnover of Rs. 2,800 crore to become the first urban co-operative bank to achieve such a milestone in South India.