- Nationalised Banks
- NSE: ANDHRABANKBSE: 532418
- Bhogaraju Pattabhi Sitaramayya
- 20 November 1923
- Consumer banking, Credit cards, corporate banking, finance and insurance, private banking, wealth management, Agricultural Loans
- Rs. 12199 crore (US$1.9 billion) for the fiscal year ended 31 March 2012
• Andhra Bank Branches in Alphabetical OrderA | B | C | D | E | F | G | H | I | J | K | L | M | N | P | R | S | T | U | V | W | Y
5-9-11, Dr Pattabhi Bhavan
Secretariat Road, Saifabad Hyderabad, A.P.
Andhra Bank is an Indian public sector bank. With a network of more than 1,900 branches, 15 extension counters, and more than 1100 automated teller machines (ATMs), the bank now operates in 25 states and three Union Territories.
The Government of India owns 51.55% of its share capital while the government-owned Life Insurance Corporation of India (LIC) holds 10% of the shares. Andhra Bank has signed a MoU with Bank of Baroda and Legal & General Group of UK to form a joint venture life insurance company - IndiaFirst Life Insurance Company.
The products and services provided by Andhra Bank may be categorised into Retail, Corporate, NRI, MSME, and Agricultural industries. In the retail business, Andhra Bank offers deposits, DMAT services, payment services, various types of loans, cards, insurance and Mutual Funds to individual customers. For the Corporate sector, the product offerings of the bank include loans & advances, project appraisal services, and Syndication of Loans to the business entities while the NRI business services of the bank include deposit schemes, loans, remittance services, and investment services to the NRIs.
Andhra Bank was founded in 1923 in Machilipatnam, Andhra Pradesh. The bank started operations on 28 November 1923. During the second phase of nationalisation of commercial banks, Andhra Bank became a wholly owned Government bank. Earlier in 1964, the bank merged with Bharat Lakshmi Bank to consolidate its position further.