Andhra Bank net profit up 12%
BS 200 SCORECARD
| For the full year, the bank posted a 12 per cent increase in net profit to Rs 520.10 crore (Rs 463.50 crore). |
| The board has recommended a final dividend of 15 per cent taking the total dividend declared during the year to 30 per cent. Andhra Bank's total business increased by 25 per cent to Rs 45,461 crore as on March 2005 from Rs 36,325 crore in March 2004. |
| During the same period, total deposits grew by 20 per cent to Rs 27,551 crore and gross bank credit increased to Rs 17,910 crore. The bank's increase in net interest income is the reason behind the good results, said T S Narayanasami, chairman & managing director, Andhra Bank. |
| The bank made a Rs 101 crore provision towards wage revision and depreciation of Rs 153.25 crore due to shifting SLR securities from trading book to held to maturity category. |
| The bank has compensated for its drop in trading income by cashing in on gains in the equities market. It made a profit of Rs 56 crore (Rs 26 crore) from equity trading during FY 2004-05. |
| Its trading income was at Rs 385 crore (Rs 402 crore). In Q4, the bank's net interest income jumped by 14.5 per cent to Rs 266 crore (Rs 232.32 crore). |
| Other income of the bank fell marginally to Rs 151.08 crore (Rs 161.97 crore). |