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APGVB – Andhra Pradesh Grameena Vikas Bank: A Regional Rural Bank

Tuesday, 2 September 2014

Andhra Pradesh Grameena Vikas Bank
Andhra Pradesh Grameena Vikas Bank (APGVB) came in existence in 2006 after the amalgamation of 5 RRBs viz. Sri Visakha Grameena Bank (30th September, 1976), Nagarjuna Grameena Bank (30th April, 1976), Sangameswara Grameena Bank (31st March, 1982), Manjira Grameena Bank (31st March, 1982) and Kakathiya Grameena Bank (28th June, 1982).

APGVB is involved in various types of banking services such as Saving Bank Account, Current Account, Term Deposits, Recurring Deposit Account and Vanitha Vikas.

APGVB operates its business through the head office located at Warangal in Andhra Pradesh. The Bank operates its financial and banking business in Mahabubnagar, Nalgonda, Medak, Warangal, Khammam, Visakhapatnam, Vizianagaram and Srikakulam.

APGVB provides the banking business to 238.48 lakh population in these districts. Andhra Pradesh Grameena Vikas Bank has a large network of 553 branches. It has more than 2, 200 energetic staffs.

Ownership share of APGVB is divided into Government of India (50%), Government of Andhra Pradesh (15%) and State Bank of India (35%).

APGVB bank offers lockers facility, DDCP facility, loan facility, smart card facility and credit card facility too. The Bank achieved net profit of 48% in the fiscal year of 2010. APGVB operates on Core Banking Solution (CBS) platform. The Bank thinks to provide ATM and electronic fund transfer services also to its customers in coming future.

Andhra Pradesh Grameena Vikas Bank is sponsored by State Bank of India. It formed on 31st March, 2006. There are two officials website of APGVB - www.apgvbank.in and www.apgvb.com for the updated information about the Bank’s services.

Services, offers, results, recruitments and other updated information related to Andhra Pradesh Grameena Vikas Bank are updated at www.apgvb.com. APGVB is the most trusted Regional Rural Bank (RRB) in South India. The Bank works with the fresh concept of “we are with you!” APGVB is aimed to improve rural life offering beneficial financial services to the all sectors in the State of Andhra Pradesh.

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