Andhra Bank raised the benchmark lending rate by 25 basis points to 10.25 per cent from 10 per cent. Further, the state-run bank raised BPLR to 14.50 per cent from 14.25 per cent. In a communication to stock exchange, the bank said the rate hike would effectively raise lending rates for auto, corp
Infrastructure developers won't really complain about the process of funding for their projects. Their problems remain getting the projects cleared for takeoff. BA Prabhakar, Chairman and Managing Director, Andhra Bank, speaking with Sumantra Das, explains the recent uncertainties and opportunities in infrastructure lending.
During Jan-Mar 2013, the net profit of Andhra Bank rose 1.5 per cent to Rs 345 crore compared from Rs 340 crore in the year-ago period. The state-run bank posted 15 per cent growth in total income at Rs 3,713 crore compared to Rs 3,229 crore in the corresponding period last year. While net interest margin was in the range of 3.04 per cent, the bank posted 17 per cent and 18.4 per cent grow