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Andhra Bank’s FY12 net grows by 6% at Rs 1344.67 crore

07 May 2012 Evaluate

Hyderabad-based Andhra Bank has reported results for the quarter and year ended March 31, 2012.

The Bank’s net profit increased by 8.59% at Rs 339.67 crore for the quarter as compared to Rs 312.78 crore for the similar quarter of previous fiscal. Bank’s total income has registered a growth of 21.27% in its Q4FY12 to Rs 3228.90 crore as compared to Rs 2662.48 crore for Q4FY11.

For the 2011-12 fiscal, the bank reported a profit of Rs 1344.67 crore, up by 6.12% over the previous year’s net profit of Rs 1267.07 crore. The bank’s total income has increased by 32.76% to Rs 12198.66 crore for the year ended March 31, 2012 from Rs 9188.23 crore for the previous year.

The bank’s board of directors at its meeting held on May 07, 2012, has recommended a dividend of Rs 5.50 per share for the year 2011-12.

The bank has recently decided to revise the Base Rate and benchmark prime lending rate (BPLR) downwards by 25 basis points (bps) with effect from May 01, 2012. The Base Rate has been revised from 10.75% per annum to 10.50% per annum and BPLR is revised from 15.00% per annum to 14.75% per annum.

Andhra Bank-Amalgama Share Price

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