Andhra Bank Raises Rs 65 Crore

The Andhra Bank on 28 May announced that it has raised Rs 65 crore for 87 months at a coupon of 11.10%. The bank had issued subordinated bonds for Rs 150 crore in May 1999. The additional Rs 65 crore of Tier-II bonds will enable the bank to go for credit expansion. The capital adequancy ratio of the bank stood at 11.02% for the year ended 31 March, 2000.