Public sector lender, Andhra Bank, has reportedly unveiled a new Retail Loan Express Project for speedy processing and disbursal of housing loans. Further, the bank has formed an exclusive team for sale and service of housing loans. Meanwhile, the bank has also launched an internally developed lead management system, which tracks the client requirements and resolves issues in sanctioning of loans.
The bank has reported 15.20% fall in its net profit at Rs 257.08 crore for third quarter ended December 31, 2012 as compared to Rs 303.17 crore for the same quarter in the previous year. However, total income of the bank has increased by 9.50% at Rs 3469.21 crore for quarter under review as compared to Rs 3168.26 crore for the quarter ended December 31, 2011.