Andhra Bank, a public sector lender, has introduced two schemes namely 'AB Little Stars' and 'AB Teens' to encourage saving among children from an early age. 'AB Little Stars' scheme has been launched for children in age group of 10-15 years and their parents stands as guardians while 'AB Teens' is targeted for teenagers between 15-18 years. The bank will provide facilities such as Internet banking, ATM card, mobile banking and cash transfer to these young customers.
Andhra Bank has reported over two fold jump in its net profit at Rs 144.49 crore for the quarter ended September 30, 2014 as compared to Rs 70.65 crore for the same quarter in the previous year. Total income has increased by 15.88% at Rs 4423.62 crore for quarter under review as compared to Rs 3817.57 crore for the quarter ended September 30, 2013.
