Andhra Bank is planning to target lending to agricultural and micro, mini and small enterprises, considering huge potential for growth. Its year-on-year growth for the agriculture portfolio stood at 26%, while small and medium enterprises at 18% and retail at 13% till date. The bank expects deposit and credit growth in the range of 14-16% and 15-16% respectively.
The bank has registered marginal rise of 3.07% in its net profit at Rs 325.83 crore for second quarter ended September 30, 2012 as compared to Rs 316.12 crore in the corresponding month previous year. The total income of the bank has also increased by 15.45% to Rs 3417.62 crore for the quarter under review as compared to Rs 2960.32 crore in the same month last year.
