Page 2 - Andhra Bank

Andhra Bank stocks sink to 15-year low amid ED probe involving ex-director

The CBI had filed a complaint in the case last year in October

Andhra Bank hits 14-yr low as ED files chargesheet against ex-bank official

The stock tanked 13% to Rs 33.60 on the BSE in intra-day deal, quoting at its lowest level since May 17, 2004.

Rs 50-bn Sterling scam: ED files chargesheet against ex-Andhra Bank exec

This is the second charge sheet in this case after ED filed one against Delhi based businessman Gagan Dhawan

Andhra Bank Q1 profit up by 33% to Rs 40 crore

The PSB clocked a net profit of Rs 31.09 crore in the same quarter of FY17

Andhra Bank plans to raise up to Rs 1,000 crore via QIP in next five months

The lender is looking to close the QIP issue by December

Andhra Bank puts up Rs 3,871-crore NPA assets for sale, prefers cash bids

Hyderabad, 13 June: Andhra Bank has put up Rs 3,871 crore of non performing assets(NPAs) for sale, involving 113 loan accounts with a ticket size as large as Rs 507.63 crore owed by Andhra Pradesh-based Transtroy(India) Private Limited to as small as Rs 1.26 crore of N K Rubber Industries from Faridabad.The bank has invited the asset reconstruction companies(ARCs) to file their bids on or before June 17.Andhra Bank has chosen the sale route to reduce the NPAs as the management finds it increasingly difficult to recover loans from such a large sized NPA portfolio with limited resources at the bank's disposal.The bank's gross NPAs have more than doubled in the last two years and reached to the level of 12.25 percent (Rs 17,669 crore) in March, 2017 as compared to 5.31 percent (Rs 6,876 crore) in March, 2015. The provisioning towards bad loans rose to Rs 3,834 crore in 2016-17 from Rs 1,172 crore couple of years ago. The provisioning requirements have shrunk the bank's net profit to a ..

Andhra Bank reduces lending rate by 80 basis points

The changed rates will be applicable across all tenures from Tuesday onwards

Andhra Bank pledges Rs 1,300-cr loan for Telangana irrigation project

A consortium led by Andhra Bank has estimated the project cost in phase one at Rs 7,400 crore

Andhra Bank receives Rs 8,000 crore in CASA deposits in 8 days

It has recently figured in the RBI list of top 10 banks that have received highest deposits post demonitisation

Andhra Bank announces opening of Gold Bond scheme series-III

he issue price of the Sovereign Gold Bond for this tranche has been fixed at Rs 2,957 per gram of gold

Andhra Bank ties up with Cigna TTK, Reliance General Insurance

The tie-up is for providing health and general insurance to Andhra Bank's customers

Andhra Bank Q1 net falls 84% to Rs 31 crore

Total income for the quarter grew 7.2% at Rs 4,855.50 crore

Andhra Bank plans to raise Rs 2,700 crore for FY17

Bank said the amount will be raised by way of equity, tier I and tier II bonds

Andhra Bank Q4 net profit declines by 72% to Rs 51.60 crore

The management has provided for Rs 1,023 crore in provisions and contingencies, an increase of 37.2% over Rs 818 crore in the corresponding previous quarter

Andhra Bank to allot 28.8 million shares to LIC on preferential basis

The bank intends to raise an additional equity capital of Rs 136 cr by allotting shares for cash at Rs 47.30 per share to the life insurance company