Andhra Bank repeats stellar performance in 3rd Quarter ended Dec 2009
PERFORMANCE IN BRIEF
ASSET QUALITY:
The percentage of Standard Assets to Gross Advances stood at 99.13 % as on 31.12.09
Gross NPAs stood at Rs to Rs. 446.95 Crs (31.12.2009)
Gross NPAs as a percentage to Gross Advances stood at 0.87% (31.12.2009) against 0.89% (31.12.2008)
Net NPAs are at Rs. 87.92 Crs, representing 0.17% of Net Advances
Provision Cover for NPAs as on 31.12.09 stands at 91.07%.
Sectoral Exposure of Credit:
Finance to Agricultural Sector has gone up by Rs. 1767 Crs over Dec2008 and stood at Rs. 8252 Crs as on Dec 2009
Retail credit registered robust growth of 40.73% over previous year and reached Rs.7902 Crs as at the end of December-09
Lending to MSME sector has gone up by 53.02% and reached Rs.7607 Crs
Bank is focusing on Housing Loans and Gold Loan as thrust areas under retail credit.
TECHNOLOGY INITIATIVES:
All the 1544 Branches of the Bank are under CBS
Tele-Banking and Interactive-Voice-Response has been launched for Customers
Bank offers its customers a facility to subscribe to Initial Public Offers of corporate using Applications Supported by Blocked Amount scheme
As at the end of Dec2009, 9.57 lakh customers have registered for availing SMS Alert facility of the Bank
Number of ATMs increased from 726 as on 31st March 2009 to 839 as on 31st December 2009
Number of ATM / Debit cards increased from 35.4 Lakhs as on 31st March 2009 to 47.12 Lakhs as on 31st December 2009.
EXPANSION INITIATIVES:
Number of Business Delivery Channels increased from 2194 (31.12.08) to 2470 (31.12.2009).
Number of branches increased from 1410 (31.12.2008) to 1544 (31.12.2009) covering 23 states and 3 Union Territories.
Bank has opened 112 branches during the financial year.
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(This is a press release from Andhra Bank)
