Andhra bank's business crosses Rs 74,000 cr

Tirupati, Dec 28: Andhra Bank's business profitability is on the rise, with the total business going up by 33.53 per cent at Rs 74,928 crore for the half year ended September, 2007, compared to Rs 56,113 crore during the corresponding period last year, its Chairman and Managing Director K Ramakrishnan has said.

Opening a renovated air-conditioned branch here yesterday, he told newspersons here that its net NPA stood at 0.19 per cent, one of the lowest in the banking sector. The bank had added 45,000 new accounts during the second quarter of 2007-08, he added. The bank had 2,013 branches and 567 ATMs, including three mobile ATMs (two with biometric access). One more mobile ATM was likely to be launched in this temple town shortly, besides seven more ATMs in Tirupati zone by the end of March, 2008, he said.

Mr Ramakrishnan said the bank had issued 4,80,653 Kisan Credit Cards to farmers and lent financial assistance of Rs 671 crore to 25,19,736 SHG units.

Kiddy bank scheme, with insurance benefits, was re-launched to inculcate savings habit among children, he said.

Mr Ramakrishnan said that as part of financial inclusion, the bank had adopted two districts - Srikakulam in Andhra Pradesh and Ganjam in Orissa - and achieved 100 per cent coverage. It had also launched 'Smart Card' at Geesukonda mandal in Warangal district for fast disbursement of Government assistance to the elderly and handicapped.

The bank had adopted Gundugolanu village in West Godavari district for alround development at an outlay of Rs 5.50 crore for improving health, sanitation and education facilities, he added.

UNI