Coastal Bank, the largest Local Area Bank in the Country, operates in contiguous five districts of Andhra Pradesh, viz., Krishna, Guntur, West and East Godavari and Visakhapatnam.
More than 100 service points of the Bank 50 branches; 45 ATMs, 52 CBMBC (Coastal Bank Mithra Business Correspondents).
Right from inception, the Coastal Bank is known for its institutional credit in rural and semi-urban areas - financial assistance to Agriculture, MSME, Self Help Groups/Joint Liability Groups. The Bank has recently forayed into retail advances - housing loans/personal loans etc.
About 75% of the advances of the Bank are to priority sector and about 48% of the borrowers are women entrepreneurs.
The Bank is in the forefront in implementing financial inclusion and in offering digital services to its clients with Core Banking Services, Rupee Cards, Remittance Facilities including UPI Payments, Clearing, ATMs/Cash Deposit Machines and Mobile Banking (Android and IOS) etc.
| Particulars | As on 31-03-2023 (Rs. In lakhs) | As on 31-03-2024 (Rs. In lakhs) |
|---|---|---|
| Capital & Reserves | 14,987 | 16,580 |
| Deposits | 73,855 | 77,844 |
| Advances | 58,919 | 62,989 |
| PBT | 2,701 | 2,527 |
| PAT | 2,018 | 1,869 |
