Andhra Bank is an Indian bank based in Hyderabad. The bank was established in the year 1923, and its founder was Dr. Bhogaraju Pattabhi Sitaramayya, a well known freedom fighter. The initial authorized capital of the bank was Rs. 10.00 lacs, while the paid up capital was Rs. 1.00 lac at the time of its registration.
Total Business volume of the bank in the third quarter of the 2008-09 financial year stood at Rs. 95, 822 Crores, while the Total Deposit volume during the same tenure was Rs. 53,795 Crores.
As of 31st of December, 2008, Andhra Bank had a client base of more than 18.5 Million customers with 2194 Business Delivery Channels. Till the same date, the bank had 1,410 branches spread across 22 states and 2 Union Territories, out of which 1,067 branches have been enabled with Centralized Core Banking Solution (CBS). While the total number of ATMs summed up to 685, the bank had a Per Employee Productivity of Rs 6.92 Crore.
Products And Schemes
Apart from regular banking services and solutions, Andhra Bank has introduced some attractive services such as AB Premium Current Account and AB Privilege Corporate Salary Savings Bank Account with extra benefits to the customers. Also, the bank has launched AB Saral Housing Loan scheme featuring housing loans upto Rs. 20 Lacs.
Andhra Bank has also partnered with various financial institutions like Kotak Mahindra, Reliance, Birla Sun Life Mutual Fund and Fidelity Mutual Fund, assisting them in sales of their Mutual Fund products. The bank has also signed a Memorandum of Understanding (MoU) with Maruti Suzuki Ltd. for financing 4 wheeler vehicles.
Andhra Bank is the first bank in India to have launched mobile biometric ATMs. These ATMs stop at predestinated sites, and instead of entering the personal identification number (PIN), the customers have to match their finger prints with their recorded finger prints in the bank database. This has enabled even the illiterate or uneducated customers of the bank to enjoy the ATM facility being offered by the bank.
As an initiative to empower the society, the bank has established 10 Rural Training Institutes, which have provided training to 76,300 candidates for getting successfully self employed. The institutes offer free training, lodging, boarding facilities coupled with to and fro travel expenditure to the candidates undergoing the training programmes.
Andhra Bank, 5-9-11,
Saifabad, Hyderabad City,
Andhra Pradesh – 500 004