MICROCAPITAL BRIEF: Andhra Pradesh Grameena Vikas Bank Opens 125 Ultra-small Branches in India’s Andhra Pradesh

Andhra Pradesh Grameena Vikas Bank (APGVB), a government-owned financial institution in India, reportedly has opened 125 ultra-small branches (USBs) in Andhra Pradesh. The USBs operate in villages with a population of at least 2,000 as part of an effort to implement financial inclusion. The USBs are expected to be converted to full-service branches after reaching an unspecified volume of business. APGVB plans to open an additional 170 USBs in the region by March 2013 [1].

As of 2012, APGVB had 574 branches in eight districts of the Indian state of Andhra Pradesh. For the year 2012, APGVB reported total assets of INR 55.3 billion (USD 17.9 billion) [2].

By Brendan Millan, Research Associate

About Andhra Pradesh Grameena Vikas Bank (APGVB)
Andhra Pradesh Grameena Vikas Bank (APGVB)is a government-owned bank in India that was established in 2006 upon the amalgamation of five regional-rural banks: Sri Visakha Grameena Bank, Nagarjuna Grameena Bank, Sangameswara Grameena Bank, Manjira Grameena Bank and Kakathiya Grameena Bank. As of 2012, APGVB had 574 branches in eight districts of the Indian state of Andhra Pradesh. For the year 2012, APGVB reported total assets of INR 55.3 billion (USD 17.9 billion).

Sources and Additional Resources:

[1] The Hindu Business Line: “AP Grameen Bank Opens125 Ultra-small Branches”, http://www.thehindubusinessline.com/news/states/ap-grameen-bank-opens-125-ultrasmall-branches/article4381853.ece

[2] Andhra Pradesh Grameena Vikas Bank: “Annual Report 2011-12”, http://apgvbank.in/adminpanel/tender/Annual%20Report%202012-eng.pdf

MicroCapital.org story, March 24, 2012, “Karnataka Vikas Grameena Bank Reaches $1m of Solar Power Products Financed in India”, http://www.microcapital.org/microcapital-brief-karnataka-vikas-grameena-bank-reaches-1m-of-solar-power-products-financed-in-india/

MicroCapital.org story, April 16, 2012, “Microfinance Institutions Network (MFIN) Asks Reserve Bank of India (RBI) to Assist in Recovering Loans Outstanding in Andhra Pradesh”, http://www.microcapital.org/microcapital-brief-microfinance-institutions-network-mfin-asks-reserve-bank-of-india-rbi-to-assist-in-recovering-loans-outstanding-in-andhra-pradesh/

MicroCapital.org story, January 24, 2012, “Microfinance Institutions in Andhra Pradesh Request Extension to Meet New Capital Adequacy Ratios Imposed by Reserve Bank of India”, http://www.microcapital.org/microcapital-brief-microfinance-institutions-in-andhra-pradesh-request-extension-to-meet-new-capital-adequacy-ratios-imposed-by-reserve-bank-of-india/

MicroCapital.org story, February 28, 2012, “76 Criminal Cases Pending Over Alleged Role of Microlenders in Borrower Suicides in India’s Andhra Pradesh”, http://www.microcapital.org/microcapital-brief-76-criminal-cases-pending-over-alleged-role-of-microlenders-in-borrower-suicides-in-indias-andhra-pradesh/

MicroCapital.org story, December 6, 2011, “Government of Andhra Pradesh, India, Introduces Interest-Free Loans for Women in Self-Help Groups (SHGs)”, http://www.microcapital.org/microcapital-brief-government-of-andhra-pradesh-india-introduces-interest-free-loans-for-women-in-self-help-groups-shgs/

MicroCapital Universe Profile: Andhra Pradesh Grameena Vikas Bank (APGVB), http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Andhra+Pradesh+Grameena+Vikas+Bank+%28APGVB%29

Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at  http://www.microcapital.org/products-page/



Comments are closed.