The Aryapuram Cooperative Urban Bank Limited (ACUB), Kakinada branch will be inaugurated shortly on the main road opposite SRMT. It is the first branch of ACUB that is opening outside Rajahmundry. Bank Chairman T.Ramanjaneyulu, announced in a press conference here on Saturday that the bank secured Reserve Bank of India (RBI)'s permission to expand to West Godavari district, for which necessary arrangements are being made. Deposits as on March 31, 2010 stood at Rs.180 Cr and loans/advances amounted to Rs.121 Cr which shows a growth of 25 per cent and 21 per cent respectively. Working and share capitals were Rs.220 Cr and Rs.7 Cr. ACUB has been rated as an `A' grade bank which has been consistently earning profits since its foundation in the year 1918. The bank has been paying a dividend of 15 percent of share capital. The bank has 1.15 lakh depositors and account – holders and 43,000 members. It has six branches in Rajahmundry and the Kakinada branch would be the seventh. ACUB has the privilege of being recognized by the RBI as a source of Micro – Credit. It is the first cooperative urban bank in the State to open a bio – metric ATM on its head office premises. It is primarily meant for the bank's illiterate customers. ACUB Vice – Chairman Y Kumara Swami, Directors L Satyanarayana, I Sreeramulu, P Lakshmana Swami, B Polisetti and V.S. Prakasa Rao (co - opted), secretary CVS Subramanyam and others were present.