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Andhra Bank aggressive on credit card business

Andhra Bank is planning to expand its credit card business significantly

Apnaloan.com Research Bureau

03 Sep 2008

Andhra Bank is planning to expand its credit card business significantly. The bank plans to solve its Non Performance Asset (NPAs) issue by achieving volume growth incredit card business.

As reported by Business Line, Andhra Bank, Chairman and Managing Director, Mr R.S. Reddy said, "We have been going slow on the credit card segment by limiting the issuing of cards only to our internal customers. But now, we will be issuing to non-customers of the bank as well. "

 "Instead of worrying about defaults and exiting from the business, I want to compete with others by putting sound systems in place. We are revamping the recovery team to ensure steady contact with the card-holders," Mr Reddy added