Andhra Bank (ANDHRABANK), founded by Bhogaraju Pattabhi Sitaramayya in 1923, is now an institution in the public sector rendering services through 1981 business delivery channels spread over 21 states and 2 union territories with a clientele base over 15 million. The bank has 1,303 branches, 99 extension counters, 541 ATMs and 38 satellite offices spread over 21 states and two union territories as at the end of June 2007, all computerized and several networked under cluster banking solution, providing any branch banking and internet banking facility. Real time gross settlement facility and national electronic fund transfer facility has been introduced in 650 branches. ATM sharing arrangements have been made with SBI, ICICI Bank, IDBI Bank, UTI Bank, SBI, HDFC Bank, Indian Bank, Corporation Bank and 17 other banks to provide 17,000 ATMs throughout the country. Rail ticket booking facility is available to debit card holders.
The bank bagged the Best Bank award, a banking technology awarded by IDRBT, Hyderabad for extensive use of IT in semi-urban and rural areas in 2006. Kingfisher Airlines and the bank launched a special facility Quik Ticket to book Kingfisher Airlines tickets through any of Andhra Bank ATMs. The bank launched two bio metric mobile ATMs in May 2007 for promoting financial inclusion. The Bank opened its representative office in Dubai in May 2006. It already has RBI permission to open them in New Jersey (USA), Kuwait and Riyadh and plans to open them in Doha, Muscat, Riyadh and Kuwait. The bank has launched smart card under financial inclusion. It has a subsidiary in Andhra Bank Financial Services. The registered office is at Dr. Pattabhi Bhavan, 5-9-11, Saifabad, Hyderabad-500004, Andhra Pradesh.
Financials
The company reported rise of 30.18% in standalone net profit on y-o-y basis to Rs 3.13 billion, while total income rose 34.67% y-o-y basis to Rs 26.62 billion for the quarter ended March 2011.
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