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Andhra Bank (BSE532418, NSEANDHRABANK) is a medium-sized public sector bank (PSB) of India, with a network of 2885 branches, 4 extension counters, 38 satellite offices and 3798 automated teller machines (ATMs) as of 31 March 2019.[7] During 2011–12, the bank entered the states of Tripura and Himachal Pradesh. The bank now operates in 25 states and three Union Territories. Andhra Bank has its headquarters in Hyderabad, Telangana, India.

Andhra Bank
IndustryBanking, Financial services
Founded20 November 1923; 95 years ago (1923-11-20)
FounderBhogaraju Pattabhi Sitaramayya
Area served
Key people
J. Packirisamy
(MD & CEO)
ProductsConsumer banking, Credit cards, corporate banking, finance and insurance, private banking, wealth management, Agricultural Loans
RevenueIncrease18,027.42 crore (US$2.6 billion)(2016-17)[1]
Increase4,387.95 crore (US$630 million)(2016-17)[2]
Decrease174.32 crore (US$25 million) (2016-17)[3]
Total assetsIncrease 222,126.13 crore (US$32 billion)(2016-17)[4]
Number of employees
20981 (2016-17)[5]
Capital ratio12.38% (2016-17)[6]
Old logo of Andhra Bank

The Government of India owns 90.85% of its share capital as on 31 March 2019. The state owned Life Insurance Corporation of India holds 7.66% of the shares. The bank has done a total business of 3,106 billion (US$45 billion) and has earned a net profit of 5.40 billion (US$78 million) for the Financial Year 2015-16.



Bhogaraju Pattabhi Sitaramayya, founder of Andhra Bank

Bhogaraju Pattabhi Sitaramayya founded Andhra Bank in 1923 in Machilipatnam, Andhra Pradesh. The bank was registered on 20 November 1923 and commenced business on 28 November 1923 with a paid up capital of 100,000 (US$1,400) and an authorised capital of 1 million (US$14,000) In 1956, linguistic division of States was promulgated and Hyderabad was made the capital of Andhra Pradesh. The registered office of the bank was subsequently shifted to Andhra Bank Buildings, Sultan Bazar, Hyderabad. In the second phase of nationalisation of commercial banks commenced in April 1980, the bank became a wholly owned Government bank. In 1964, the bank merged with Bharat Lakshmi Bank and further consolidated its position in Andhra Pradesh.

IndiaFirst Life Insurance Company is a life insurance company in India. It is a joint venture between two of India’s public sector banks – Bank of Baroda (44%) and Andhra Bank (30%), and UK’s financial and investment company Legal & General(26%). It was incorporated in November 2009. It has its headquarters in Mumbai. IndiaFirst Life made more than 2 billion (US$29 million) in turnover in just four and half months since the insurance company became operational. IndiaFirst Life insurance company is headquartered in Mumbai. IndiaFirst is the first life insurance company to be recommended for ISO certification within 7 months of inception.

Products and servicesEdit

Andhra Bank at Koti, Amroha
Andhra Bank Complex at Dwaraka Nagar, Visakhapatnam

Andhra Bank introduced Internet Banking Facility (AB INFI-net) to all customers of cluster linked branches. Rail Ticket Booking Facility is made available to all debit card holders as well as to internet banking customers through IRCTC Website through a separate gateway. Corporate Website is available in English, Hindi and Telugu Languages communicating Bank's image and information. Bank has been given 'BEST BANK AWARD' a banking technology award by IDRBT, Hyderabad for extensive use of IT in Semi Urban and Rural Areas on 2 September 2006.[8] IBA Jointly with TFCI has conferred the Joint Runner-up Award to the Bank in the Best Payments initiative category[9] in recognition of outstanding achievement of the Bank in promoting ATM Channel.[citation needed]

International expansionEdit

Andhra Bank opened a representative office in Dubai in May 2006 and another at Jersey City, New Jersey, in June 2009.[citation needed]

In 2010 Malaysia awarded a commercial banking license to a locally incorporated bank to be jointly owned by Bank of Baroda, Indian Overseas Bank and Andhra Bank. The new bank, India BIA Bank (Malaysia), will have its headquarters in Kuala Lumpur, which has a large population of Indians. Andhra Bank will hold a 25% stake in the joint-venture. Bank of Baroda will own 40% and IOB the remaining 35%.

Andhra Bank entered MoU with Bank of Baroda and Legal & General Group of UK to form a joint venture life insurance company IndiaFirst Life Insurance Company. The shareholders' agreement has already been signed and necessary formalities are being completed for setting up of the company. The JV Company is already incorporated in June'08 and is in the process of filing for approvals from IRDA etc. IndiaFirst has commenced operations.


Andhra Bank was ranked 532nd for the year ended 31 March 2007 amongst Top 1000 Banks in the world by "The Banker" – a London-based publication based on Tier I Capital as defined by Basel's Bank for International Settlements (BIS).[10]

Community involvementEdit

Andhra Bank, along with A P State Government, NABARD, Canara Bank, Indian Bank, IOB and SBH sponsored the Andhra Pradesh Banker's Institute of Entrepreneurship Development, which will offer training to unemployed youth for improving their skills in Andhra Pradesh.

Andhra Bank adopted Gundugolanu village, West Godavari District, Andhra Pradesh – the birthplace of its founder, Dr. Bhogaraju Pattabhi Sitaramayya. A comprehensive budget with an outlay of 55.5 million (US$800,000) is finalised for improving health, sanitation, education and social service facilities in the village.

See alsoEdit


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  7. ^ "FY 2015-16 Press Release" (PDF). Andhra Bank.
  8. ^ "IDRBT - Banking Technology Excellence Awards". Archived from the original on 24 September 2015. Retrieved 14 July 2015.
  9. ^ "Archived copy" (PDF). Archived from the original (PDF) on 10 April 2007. Retrieved 2015-07-14.CS1 maint: Archived copy as title (link)

External linksEdit