Andhra Bank, a public sector lender has generated a business worth Rs 40 crore in a two-day housing loan mela and property show held on January 19 and 20 in Hyderabad. In this property show housing loans were offered at 10.50% interest rate on loans for Rs 10 lakh to Rs 30 lakh while 10.75% was the rate of interest for loan above Rs 30 lakh. The bank has given on the spot approvals for loan applications covering 169 branches of banks located in the two zones of the State capital during the event.
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.
