Andhra Bank is harboring plans of growth in the Mumbai zone. The bank has plans to open up 10 new branches this fiscal as per a senior official of the bank.

"Presently, we have 86 branches in the Mumbai zone. We now plan to open 10 new branches here and we have already received licences for five branches," Andhra Bank's general manager (Mumbai Zone), M Anjaneya Prasad said.

These five new branches would be opened in Gandhidham, Bhavnagar, Jamnagar, Jalgaon and Sangli.

The bank brought up 125 branches in the country and 22 in the Mumbai zone alone in the last fiscal.

The bank is targetting a total growth of 25% in business this fiscal from the Mumbai zone, Prasad said.

The bank has registered a net profit of Rs. 1,046 crore in FY10 as compared to Rs. 653 crore in the fiscal previous to that which means a rise by 60.15%.

Net NPAs of the bank in FY 10 stood at 0.17% while gross NPA was capped at 0.86%.