Andhra Bank's net up by 35 percent

Posted By: Staff
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Hyderabad, Oct 30 (IANS) Andhra Bank has posted 35 percent growth in net profit during the quarter ended September.

The net profit was Rs.144 crore, a jump of 35 percent quarter-on-quarter.

The core operating profit of the bank during Q2 stood at Rs.710 crore compared to Rs.622 crore during corresponding quarter of previous year.

The bank said its total income grew by 16 percent year-on-year. It stood at Rs.4,424 crore compared to Rs.3,818 crore during Q2 of 2013-14. This comprised interest income of Rs.4,146 crore and and non-interest income of Rs.278 crore.

Total business of the bank stood at Rs.260,012 crore, an increase of 13 percent year-on-year.

The deposits grew from Rs.129,343 crore to Rs.145,084 crore, an year-on-year increase of 12.2 percent.

The gross bank credit during the quarter stood at Rs.114,928 crore, a growth of 14 percent over corresponding quarter last year.

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