Andhra Bank
Andhra Bank was a medium-sized public sector bank (PSB) of India, with a network of 2885 branches, 4 extension counters, 38 satellite offices and 3798 automated teller machines (ATMs) as of 31 March 2019. During 2011–12, the bank entered the states of Tripura and Himachal Pradesh. It operated in 25 states and three union territories. It had its headquarters in Hyderabad, Telangana, India. Along with Corporation Bank, Andhra Bank was merged with Union Bank of India in April 2020.
| Company type | Public |
|---|---|
Traded as | NSE: ANDHRABANK BSE: 532418 |
| Industry | Banking Financial services |
| Founded | 28 November 1923 |
| Founder | Bhogaraju Pattabhi Sitaramayya |
| Defunct | 1 April 2020 |
| Fate | Merged with Union Bank of India |
| Successor | Union Bank of India |
| Headquarters | Hyderabad, Telangana, India |
Areas served |
|
Key people | J. Packirisamy (MD & CEO) |
| Products | Consumer banking, Credit cards, corporate banking, finance and insurance, private banking, wealth management, Agricultural Loans |
| Revenue | ₹20,977.26 crore (US$2.6 billion) (2018-19) |
| ₹5,023.12 crore (US$630 million) (2018-19)) | |
Net income | ₹−2,786.13 crore (US$−350 million) (2018-19) |
| Total assets | ₹249,311.41 crore (US$31 billion) (2018-19) |
Number of employees | 20,346 (2018-19) |
| Capital ratio | 13.68% (2018-19) |
The government of India owned 90.85% of its share capital as of 31 March 2019. The state-owned Life Insurance Corporation held 7.80% of the shares. The bank had done a total business of ₹3,106 billion (US$39 billion) and has earned a net profit of ₹5.40 billion (US$68 million) for the financial year 2015–16.