Bangalore, February 10, 2010 - Continuing its growth momentum, Andhra Bank came out with another round of excellent performance in all fronts for the Quarter ended December 2009.
Business Initiatives
Total Business touched Rs. 117,899 crore, up by 23.04%, with deposits at Rs. 66,547 crore clocking a growth of 23.70% and Advances reaching Rs. 51,352 crore with a growth of 22.19%. Credit Deposit ratio stood at 77.47%.
MSME advances have shown a robust growth of 53.02% and Retail credit jumped by 40.73%.
NIM moved up to a healthy 3.35% for this quarter, showing increase of 29%. Net Profit zoomed to Rs. 806 crore for the 9 months period with a growth of 78.32%.
Net NPA came down to 0.17% from 0.21%. The Provision Coverage ratio for NPA stood at 91.07% as against RBI‘s stipulation of 70% .
Capital Adequacy ratio stood at 14.95 % ( Basel II norms) against the RBI‘s prescription of a minimum of 9%.
TECHNOLOGY INITIATIVES:
Ø 100% CBS. Tele-Banking and IVRS has been launched for Customers.
Ø 9.57 lakh customers have registered for availing “SMS Alert †facility
Ø Number of ATMs increased from 726 as on 31st March 2009 to 839 as on 31st December 2009. Our ATM / Debit card base increased from 35.4 Lakhs as on 31st March 2009 to 47.12 Lakhs as on 31st December 2009.
EXPANSION INITIATIVES:
Ø Number of branches increased from 1410 (31.12.‘08) to 1544 (31.12.‘09) covering 22 states and 2 Union Territories. Bank has opened 112 branches during the financial year.
BRAND BUILDING MEASURES:
Ø Bank has recently soft launched the insurance Joint Venture with Legal & General and Bank of Baroda, named India First Insurance Co Ltd.
Ø Bank has been adjudged with the Best 'Asset Quality' by “Business Today-KPMG Studyâ€.
OUR GOALS
Bank is aiming to attain a business mix of Rs.1,30,000 crores by March‘10 and Rs.1,50,000 crores by September‘10.
Bank is targeting to reach CASA percentage of 32% of total deposits by March‘10
BANGALORE ZONE
Andhra Bank Bangalore Zone which compromises of Karnataka and Kerala with 132 delivery channels has crossed a total business of Rs.5860 crores with a growth rate of 35% on YOY basis. Deposits were Rs.2427 crores and advances were Rs.3433 crores. CD ratio is 141%. Zone is aiming to touch a business turnover of Rs.6600 crores by March‘10.
Expansion Plans in Karnataka
To further strengthen our presence in the state of Karnataka we are doing survey in some of the places like Kolar, Udupi, Bidar, Yadgir, Koppal and Chitradurga. During the year 2009, bank has opened 12 new branches in the state of Karnataka, 9 of them in Bangalore and one each in Chickaballapur, Hassan and Siriguppa. We have also opened a Retail Credit branch and NRI branch to specially focus on the financial needs of the customers under these segments.
Kerala Branches
In Kerala we have 24 branches covering all the districts of the state with a business of Rs.530 crores as on Dec‘09. We are consolidating our position in the state. We also have an Andhra Bank training institute, BIRED (Bellikoth Institute for Rural Entrepreneur Development) for imparting training for unemployed youth, entrepreneurs and skilled women.