Andhra Bank opens new branch in Visakhapatnam

Andhra Bank - (Amalgamated) | Bank - Public | BFSI | BSE: 532418 | NSE: ANDHRABANK

10 Nov 2015 Evaluate

Andhra Bank has opened its new branch at PM Palem in Visakhapatnam. Further, the bank is planning to sell bad loans worth about Rs 1,388.21 crore to asset reconstruction companies (ARCs). The bad loans are in 29 accounts.

The bank has reported 73.89% rise in its net profit at Rs 251.26 crore for the quarter ended September 30, 2015 as compared to Rs 144.49 crore for the same quarter in the previous year. The bank’s total income has increased by 7.25% to Rs 4744.16 crore for the quarter under review from Rs 4423.62 crore for the corresponding quarter of the previous year.

Peers

Company Name	CMP
State Bank Of India	978.50
PNB	117.05
Bank Of Baroda	234.55
Canara Bank	125.90
Union Bank Of India	179.25
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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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