Andhra Bank business up by 16.04 per cent

Hyderabad, Oct 31 (UNI) The Andhra Bank today announced that its business has increased by 16.04 per cent to Rs 86,948 crore during the quarter ended September 30, 2008 from Rs 74,928 crore for the corresponding period last year.

According to a press release here, its total income was recorded at Rs 1,463.54 crore during the second quarter, an increase of 23.67 per cent from Rs 1,183.42 crore during the corresponding period last year.

Bank's interest income had increased by 29.55 per cent from Rs 1,025.20 crore during the same period last year to Rs 1328.13 crore in this quarter.

Net Profit was recorded at Rs 161.54 crore during the quarter as compared to Rs 151.22 crore, registering an increase of 6.83 per cent. Total deposits of the bank too showed a growth of 13.68 per cent from Rs 44,434 crore during the corresponding period last year to Rs 50,511 crore in the second quarter.

UNI VA DS 1718