Public sector Andhra Bank today said its net profit for the quarter ended September 30 grew 70 per cent to Rs 274 crore from Rs 162 crore in the corresponding period last year.
Total business rose to Rs 1,10,460 crore, up by 27 per cent, while the operating profit rose to Rs 453 crore, a rise of 63 per cent, Prasanna Panicker, deputy general manager, Andhra Bank, told reporters here. Deposits rose 23 per cent to Rs 62,279 crore while the credit to deposit ratio improved to 77.70 per cent. Gross advances grew 32 per cent to Rs 48,182 crore. Total income grew 23 per cent while growth in expenditure was contained at 14 per cent, she said.
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