Andhra Bank (AB) was founded by the eminent freedom fighter and a multifaceted genius Dr.Bhogaraju Pattabhi Sitaramayya. The Bank was registered in 20th November 1923 and commenced its business in 28th November 1923. The bank offers innovative and need based financial products and services using state-of -the art technology. As on 31 March 2018 the bank had 6958 Delivery Channels consisting of 2911 Branches 4 Extension Counters 34 Satellite Offices and 4009 ATMs including BNAs/ CRs spread over 26 States and 3 Union Territories. The bank has 47 Specialized Branches catering to the needs of the specific segments of clientele. The bank also has one representative (overseas) Office at Dubai (U.A.E) (opened in May 2006). Andhra Bank is a pioneer in Credit Card Business both as issuer and acquirer (merchant business) since 1981.Andhra Bank Bank of Baroda and Indian Overseas Bank jointly own a banking unit in Malaysia. Andra Bank the Bank's stake in the venture is 25%. The joint venture viz. INDIA INTERNATIONAL BANK (MALAYSIA) BHD commenced business on 11 July 2012.Andhra Bank is an `Authorised Dealer' to deal in foreign exchange business through 56 designated `B' category branches of the Bank. The bank has speed remittance arrangements with an Exchange House based in Gulf. Andhra Bank has a joint venture in insurance with Bank of Baroda and Legal and General Plc of UK named India First Life Insurance Co. Ltd. Andhra Bank's stake in the venture is 30% while Bank of Baroda holds 44% and Legal and General Plc holds 26% stake. Andhra Bank has a tie up with M/s United India Insurance Co Ltd for General Insurance and Health Insurance M/sReliance General Insurance Co Ltd for General Insurance and has also tied up with M/s Cigna TTK Insurance Co Ltd for Health Insurance.Andhra Bank offers depository services to the public under the brand name of AB Demat. The bank is a Depository Participant (DP) with Central Depository Services (India) Limited (CDSL) as well as with National Securities Depository Limited (NSDL). Andhra Bank has a tie-up with 12 Payment Gateways and 11 Mutual Fund companies. On 15th April 1980 the bank was nationalised. Andhra Bank had introduced Credit Cards in the country during the year 1981. After two years in 1983 the bank sponsored its second RRB as Chaitanya Grameena Bank in Guntur district. Andhra Bank took over the Convenorship of SLBC from State Bank of India during the period of 1984. In 1987 AB had sponsored its third RRB under the name OF Godavari Grameena Bank. During the year 2000 Andhra Bank had installed a request-transmitting machine at its Jubilee Hills Branch in association with the country's largest depository participant Stock Holding Corporation of India Limited. Andhra Bank made a multipartite agreement with Karnataka Power Corporation in the same year 2000 along with Karnataka Government Infrastructure Development Finance Corporation and KPTCL for funding Raichur Thermal Power Station expansion project. For Provide housing loans through the Internet the bank made tie up with a real estate portal called indiaproperties.com in the year of 2001 and also in the same period AB had entered into a rupee drawing arrangement with the National Exchange Company WLL Doha and Qatar for facilitating private remittances to India mainly on behalf of non-resident Indians (NRIs). The Bank had signed Memorandum of Understanding (MoU) with United India Insurance Company Limited during the year 2002 for provide its products through various branches. Also in the identical year AB has unveiled Credit Card namely Laghu Udyami which offer hassle-free loan facility upto 2 lakh to small scale entrepreneurs. The online ATM service was started under the banking service in the year 2002. AB had started a new service called collection of Direct Taxes which comprises corporate tax estate tax gift tax etc. The Bank had entered into an alliance with Western Union Financial Services International so as to make available inbound money transfer services at all its locations in India. The Bank had opened its representative office in Dubai during May of the year 2006. AB has been given 'BEST BANK AWARD' a banking technology award by IDRBT Hyderabad for extensive use of IT in Semi Urban and Rural Areas in September of the year 2006. Andhra Bank has received license from Insurance Regulatory and Development Authority to act as a corporate agent for procuring or soliciting business of the United India Insurance Company Limited in the year of 2003. The Bank had set up Trade Finance Centres at Ashoknagar Chikkadapalli Nampally and Malakpet in Hyderabad during the same year 2003. IDBI has inked a strategic pact with Andhra Bank to hike their Automated Teller Machine reach. In the year 2003 the bank had launched the anywhere banking facility for the account holder. As at 20th December 2003 Andhra Bank had introduced two credits card brands namely Artisan Credit Card and Swarojgar Credit Card targeting the artisans and self-employed beneficiaries. Another one of the ATM sharing agreement was made with Corporation Bank in the year of 2004. During the same year 2004 AB had signed MoU with National Housing Bank for the securitisation of individual housing loan portfolio to the extent of Rs 50.36 crore; as a result the bank becomes the first public sector bank (PSB) to go in for securitisation of its housing loan portfolio. The bank signed another one MoU with Bajaj Auto Ltd for purchase of its two wheelers. The Bank made tie-up with ICICI Bank for sharing of their ATM networks and also in the same year HDFC bank comes under the same agreement. AB started live operations with Real Time Gross Settlement (RTGS) system in the year 2004 the online funds transfer service as a value added service under the guidelines and framework of the Reserve Bank of India (RBI). AB had opened an exclusive separate branch for non-interest income operations. In the identical year 2004 Andhra Bank has launched a new health insurance product for its account holders. The scheme called `AB Arogyadan' is to meet hospitalisation of family members of those who have any form of account with the bank at a very affordable premium. The MoU was signed with SBI Mutual Fund and also the bank made tie up with Tata Motors TVS Motor Mahindra Tractors and Bajaj Tempo in the year 2004 themselves. The Government of Andhra Pradesh awarded Andhra Bank for Best Performance in exceeding Targets under disbursement of Kharif in the year of 2005. During the year 2005 AB had launched composite credit card for farmers and two insurance schemes for self-help groups (SHGs) and senior citizens with different features. The Bank made tie up with Kirtilal Kalidas & Company leading jewellers to extend loans for the purchase of jewellery and also joined hands with NCMSL for loans against farm produce. 'The Banker' Magazine went on to Rank 'Andhra Bank as the Top Number 1 Bank in Asia' under the 'Return on Capital' among all the Asian Banks - Rankings being based on Tier-I Capital Business Parameter. Andhra Bank has bagged the 'Best Bank Award' in the category of 'Use of IT for Customer Service in Semi Urban and Rural areas' for 2005-06 from Institute for Development and Research in Banking Technology (IDRBT). The FINTECH Asia 2006 Award was surrendered to the bank for its initiatives under 'Any Branch Banking (ABB)' service across the Country. Andhra Bank had set up its new branch at Kalina and also overseas office at Karama in Dubai during the period of 2006. The bank joined hands with Consortium of Institutions for Higher Learning regarding study loans. Andhra Bank flagged off its 'Mobile Biometric ATMs' in Hyderabad in May of the year 2007. The Bank has rolled out two mobile biometric ATMs one each for Hyderabad and Secunderabad. AB is the first bank in the country to launch mobile biometric ATMs. Andhra Bank has signed up with Hewlett Packard (HP) to implement comprehensive Core Banking Solution at its branches. Both the parties had signed the agreement in October 2007. The Bank entered MoU with Bank of Baroda and Legal & General Group of UK to form a joint venture life insurance company. During December 2007 the bank launched two new products - 'AB Kisan Rakshak' a debt-swapping scheme for farmers and 'AB Mahila Soubhagya' a debt-swapping scheme for the benefit of SHGs. Andhra Bank's 1356th Branch has been opened on 26th March of the year 2008 and the total number of branches reached to 1366 as at 31st March 2008.Andhra Bank entered into the bullion business in January 2009. The bank sells gold coins (24 carat 99.99% purity) through its authorized branches. During the financial year ended 31 March 2009 Andhra Bank launched Cheque Mail box facility with Bank of America which enables NRIs to deposit cheques for collection in Dallas (USA) itself thereby the time taken for realisation is reduced.During the year under review Andhra Bank opened 66 branches (including upgradation of 16 extension counters) and 70 ATMs.During the financial year ended 31 March 2010 Andhra Bank opened 125 branches (including upgradation of 4 extension counters) and 133 ATMs. During the year under review the bank added five new Zones thus taking the total number of Zones to 22. This was done with the intent to facilitate speedy decision making and for the convenience of customers.Andhra Bank's 'Tele Banking Call Centre' started functioning from 4 January 2010 at Andhra Bank Buildings Sultan Bazar Hyderabad. Customers can access information of their accounts round the clock (24x7 basis) through Interactive Voice Response System (IVRS) without visiting the branch personally.Andhra Bank along with Bank of Baroda and Legal & General Group Plc of UK formed a joint venture Life Insurance Company named IndiaFirst Life Insurance Company Ltd and the MOU was signed in the month of December 2009. From January 2010 onwards Andhra Bank commenced sale of life insurance policies across all the branches.During the financial year ended 31 March 2016 United Stock Exchange of India (USE) was amalgamated with Bombay Stock Exchange and Andhra Bank as one of the promoter shareholders of USE was allotted 77922 shares of BSE with a face value of Rs 1 per share at Rs 385 per share amounting to Rs 3 crore.During the year under review Andhra Bank opened 296 Branches (including up-gradation of 4 Extension Counters) and added 1404 ATMs/BNA/CRS. During the financial year ended 31 March 2017 Andhra Bank entered into Memorandurm of Understanding (MOU) with Ministry of Textiles to finance Weavers under PMMY and new scheme had been launched in the name of AB- Weaver Mudra. During the year under review the bank opened 105 branches and added 293 ATMs/ BNAs/ CRsDuring the financial year ended 31 March 2018 Andhra Bank raised Rs 1100 crore and Rs 1890 crore under Equity Capital from Government of India in Preferential basis. During the year under review the bank opened 4 branches and added 80 ATMs/ BNAs/ CRs.