Andhra Bank, a state run lender has introduced a major brand-building plan by promoting a new mascot and also a new corporate slogan with an aim of growing its business to Rs 1.50 lakh crore by September 2010 through its expansion across the country.
Andhra Bank Chairman and Managing Director R S Reddy today launched bank’s new mascot Dolle, a "friendly, intelligent and responsive" dolphin. And 'For all your needs' – with a graphic ‘enter’ key the bank’s new corporate slogan.
At the launch Reddy told reporters, "Our new mascot and the corporate slogan symbolize the value system that Andhra Bank has been known for. We will now spread our wings across the country by opening more branches over the next one year and take the business to Rs 1.50 lakh crore from the present Rs one lakh crore."
Andhra Bank, is having 1,438 branches in India, obtains about 40 per cent of its business from outside Andhra Pradesh. He said, "We already have obtained permission from the Reserve Bank of India for opening 121 new branches and will seek permission for opening 100 more," and added that they have been able to raise Rs 520 crore last week heading towards improvement in capital adequacy to about 13.5 per cent.