Andhra Bank

Andhra Bank (BSE: 532418) is a medium-sized public sector bank (PSB), with a network of 1,712 branches, 15 extension counters, 38 satellite offices and 1056 automated teller machines (ATMs) as on March 31, 2012. Andhra Bank was founded by the eminent freedom fighter, Dr. Bhogaraju Pattabhi Sitaramayya. The Government of India owns 51.55% of its share capital and is going to increase it to 58% by infusing 1100 crore. The state owned Life Insurance Corporation of India holds 10% of the shares. The bank has done a total business of Rs. 1,90,535 crore as on 31.03.2012. Bank is 100% CBS as on date. This will benefit the customers, who will have access to banking and financial services anytime, anywhere through multiple delivery channels.Andhra Bank is a pioneer in introducing Credit Cards in the country in 1981 . The 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 02.09.2006 IBA Jointly with TFCI has conferred the Joint Runner-up Award to the Bank in the Bet Payments initiative in recognition of outstanding achievement of the Bank in promoting ATM Channel. Bank successfully conducted " Bancon 2006", a two day event at Hyderabad, deliberating on Inclusive Growth - A New Challenge. Kiddy Bank Scheme, with insurance benefits, was relaunched to inculcate savings habit among the children. Bank has mobilized nearly 90000 new accounts during 200708. As a part of "Financial Inclusion", Bank adopted two districts, namely, Srikakulam in Andhra Pradesh and Ganjam in Orissa and achieved 100% coverage. Bank has introduced Smart Card Scheme Pilot project in Warangal District and the same will be extended to other Lead Districts in due course. Bank has opened 2.11 lakh accounts under "No-frill accounts" category till 30.06.2008.

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. Bank adopted Gundugolanu village, West Godavari District, Andhra Pradesh - birth place of Dr. Bhogaraju Pattabhi Sitaramayya for all-round development. A comprehensive budget with an outlay of Rs.5.50 Crore is finalized for improving health, sanitation, education and social service facilities in the village. Bank has been ranked No.1 in terms of number of Life Insurance Policies mobilized amongst all the Agency Banks dealing with "Life Insurance Corporation of India". Bank also has tie-up with United India Insurance Company Limited under Bancassurance (Non-Life). Bank was ranked 532nd for the year ended 31.03.2007 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). 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.

History
Andhra Bank was founded by Dr. Bhogaraju Pattabhi Sitaramayya in 1923 in Machilipatnam, Andhra Pradesh. The founder Dr. Bhogaraju Pattabhi Sitaramayya was an eminent freedom fighter and a multifaceted genius. The Bank was registered on November 20, 1923 and commenced business on 28 November 1923 with a paid up capital of Rs 1.00 lakh and an authorised capital of Rs 10.00 lakhs. 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, Andhra Pradesh. In the second phase of nationalization 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.sri srinivasa internetcae

About the Founder

Dr Bhogaraju Pattabhi Sitaramayya (Telugu:

),was born in a Telugu 6000 Niyogi

Brahmin family on November 24, 1880 in Gundugolanu village, Krishna district (now part of West Godavari district) in Andhra Pradesh, was an Indian independence activist and political leader in the state of Andhra

Pradesh. After securing a medical degree (M.B.C.M), he started his practice in Machilipatnam, which is the headquarters of Krishna District. He acted as the member of Working Committee of the Congress for a number of years and the President of Andhra Provincial Congress Committee during the years 1937-40. Pattabhi was arrested along with the Congress Working Committee and was imprisoned for three years. He authored Feathers and Stones, The History of the Congress, and Gandhi and Gandhism. He was also a member of the J.V.P. Committee (Jawaharlal Nehru, Vallabhbhai Patel and Pattabhi) which recommended the formation of Andhra State without Madras City.

Delivery Channels
As of March 2012, Andhra Bank has a total of 2,821 delivery channels which include

1712 Branches 1056 ATMs 15 Extension counters 38 Satellite Offices

In the Annual Year 2011-12, an addition of 145 delivery channels during the year, including 80 branches (including upgradation of 10 ECs).Bank has entered into Tr ipura and Himachal Pradesh States during the year,2011-12 and with this the presence of the Bank spread to 25 States and 3 Union Territories.Bank also have 1127 Branchless Banking Units (Business Correspondents).

Products and Services

The products and services provided by the bank are mainly categorized into businesses of Retail, Corporate, NRI, MSME, and Agricultural industries. Under the Retail Business, the bank offers Deposits, Loans, Cards, DMAT Services, Payment Services, Insurance, and Mutual Funds to individual customers. Under the Corporate Business, the bank offers Loans & Advances, Project Appraisal services, and Syndication of Loans to the business entities. Under the NRI business segment, the bank offers Deposit schemes, Loans, Remittance services, and Investment services to the Non Resident Indians. Under the MSME business segment, the bank offers different schemes that aimed at providing loan and transaction services to Micro Small and Medium Enterprises (MSME). Some of the MSME schemes available are OTS Scheme, Composite loan scheme, Open cash credit (OCC), Artisans Credit Card (ACC), AB Laghu Udhyami Credit Card (LUCC), AB Power Tools (Shakti), Technology upgradation fund scheme (TUFs), Credit guarantee fund trust for small industries (CGTSI), AB Doctor Plus...etc. Under the Agriculture business segment, bank provides different credit schemes to farmers, Women Empowerment schemes, and Andhra Bank Rural Development Trust (ABRDT) helps Rural Self Employment Training Institutes (RSETIs).

Following are the various Deposit Schemes available -

AB Savings Accounts AB Current Accounts AB Term Deposits AB Arogyadaan Scheme AB Bancassurance Life AB Bancassurance (Non Life) Retail Loans Agricultural Loans Corporate Banking NRI Banking NRI Products and Services NOSTOR details for remittance Western Union Money Transfer

Following are the various Technology Products available -

Internet Banking Credit cards (Either on the basis of Fixed Deposit or latest Income Tax returns) Multi City Cheque Facility On-Line Tax Accounting System (OLTAS) Real Time Gross Settlement (RTGS) Instant Funds Transfer ATM Services Any Branch Banking Electronic Clearing Service (ECS) National Electronic Funds Transfer

During FY 2011-12, your Bank has taken many I.T. initiatives to improve Customer Service like:

Bank has launched e-Donations facility for donations to Shri Siddhivinayak Temple, Mumbai. Customer of any Bank having Mobile Banking Facility can donate funds by sending an SMS in a prescribed format to 810814400 with MMID (Mobile Identification Number) 9011111

Bank launched new e-banking centres at Nanakramguda and vidyanagar branches on 31.12.2011. The facilities include :

1. ATM Machines, 2. Self Service Pass Book Printer,3. Automated Cheque Deposit Machine, 4. Kiosk to carry out Internet Banking 5. Hot Line to our Call Center.Customers will be able to Draw Cash, Deposit Cheques,Update their Pass Books and carry out Internet Banking on a 24X7 basis on all days.

Bank introduced a new Loan Scheme for practicing Professionals named AB Professional Loan from 30.01.2012, to cater to the potential segment consisting of practising Chartered Accountants, Architects, Engineers,Valuers, Management & Financial Consultants, Company Secretaries, Cost Accountants, etc.,

Bank recently launched a new Product named Abhaya First Wealth Pack in all its Branches, combining features of four products, viz., Recurring Deposit, Savings Bank Account, Unit Linked Plan (Equity Option) and Life Insurance Cover.This is available in

three denominations of Silver (` 25,000/-), Gold (` 50,000/-)and Platinum (` 1,00,000/-).

The Prepaid Cards launched by Bank in September 2011 under Gi f t and Internat ional Travel received good response from the Customers.The Gi f t Cards are avai lable in flexi denomination from Rs.250/- to Rs.50,000/-. Gift Cards, like :International Travel Prepaid Cards are issued initially in US Dollars. The Cards are issued with an initial load of USD 200 and reloading in multiples of USD 10

International expansion
Andhra Bank opened a representative office in Dubai in May, 2006 and another at Jersey City, New Jersey (USA), in June 2009. A foothold in New Jersey is strategic for the bank as the state has a large number of Indians from Andhra Pradesh. 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%.

Awards

BEST BANK MID-SIZE Businessworld - PricewaterhouseCoopers Survey for India's Best Banks 2010 BEST BANK - for the Quality of Assets by Business Today BEST PUBLIC SECTOR BANK by State Forum of Bankers' Club Kerala MSME NATIONAL AWARD

Type

Public

Industry

Finance

Founded

20 November 1923 (88 years ago)

Headquarters

Hyderabad

Key people

B A Prabhakar (CMD)

Products

Consumer banking, Credit cards,corporate banking, finance and insurance, private banking,wealth management, Agricultural Loans

Revenue

Rs.12199 crore as on 31.03.2012

Operating income

Rs.2,815 Crore as on 31.03.2012

Net income

Rs.1345 Crore as on 31.03.2012

Total assets

108,900 crore (US$21.73 billion)(2011)[1]

Employees

14,098 (2011)[1]

Website

http://www.andhrabank.in