Andhra Bank :
Andhra Bank (BSE: 532418) is a medium-sized public sector bank (PSB), with a network of 2000+ branches, 15 extension counters, 38 satellite offices and 1563 automated teller machines (ATMs) as on 30 Nov 2013. During 2011–12, the bank entered the states of Tripura and Himachal Pradesh. The bank now operates in 25 states and three Union Territories.
The Government of India owns 58% of its share capital and is going to increase it to 62.14% by infusing INR2 billion (US$31 million) in capital.[2] The state owned Life Insurance Corporation of India holds 10% of the shares.[3] The bank has done a total business of INR2230 billion (US$35 billion) for the fiscal year ended 31 March 2013.
Andhra 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.[4]
Andhra Bank Building at Koti
Andhra Bank has ranked No.1 in terms of number of Life Insurance Policies mobilised amongst all the agency banks dealing with the Life Insurance Corporation of India. The bank also has tie-up with United India Insurance Company Limited under Bancassurance (Non-Life)Dr. Bhogaraju Pattabhi Sitaramayya founded Andhra Bank in 1923 in Machilipatnam, Andhra Pradesh. The bank was registered on 20 November 1923 and commenced business on 28 November 1923 with a paid up capital of INR100000 (US$1,600) and an authorised capital of INR1 million (US$16,000) 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, Telangana. In the second phase of nationalisation 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.
IndiaFirst Life Insurance Company is a life insurance company in India. It is a joint venture between two of India’s public sector banks – Bank of Baroda (44%) and Andhra Bank (30%), and UK’s financial and investment company Legal & General(26%). It was incorporated in November 2009. It has its headquarters in Mumbai. IndiaFirst Life made more than INR2 billion (US$31 million) in turnover in just four and half months since the insurance company became operational. IndiaFirst Life insurance company is headquartered in Mumbai. IndiaFirst is the first life insurance company to be recommended for ISO certification within 7 months of inception.
Andhra Bank (BSE: 532418) is a medium-sized public sector bank (PSB), with a network of 2000+ branches, 15 extension counters, 38 satellite offices and 1563 automated teller machines (ATMs) as on 30 Nov 2013. During 2011–12, the bank entered the states of Tripura and Himachal Pradesh. The bank now operates in 25 states and three Union Territories.
The Government of India owns 58% of its share capital and is going to increase it to 62.14% by infusing INR2 billion (US$31 million) in capital.[2] The state owned Life Insurance Corporation of India holds 10% of the shares.[3] The bank has done a total business of INR2230 billion (US$35 billion) for the fiscal year ended 31 March 2013.
Andhra 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.[4]
Andhra Bank Building at Koti
Andhra Bank has ranked No.1 in terms of number of Life Insurance Policies mobilised amongst all the agency banks dealing with the Life Insurance Corporation of India. The bank also has tie-up with United India Insurance Company Limited under Bancassurance (Non-Life)Dr. Bhogaraju Pattabhi Sitaramayya founded Andhra Bank in 1923 in Machilipatnam, Andhra Pradesh. The bank was registered on 20 November 1923 and commenced business on 28 November 1923 with a paid up capital of INR100000 (US$1,600) and an authorised capital of INR1 million (US$16,000) 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, Telangana. In the second phase of nationalisation 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.
IndiaFirst Life Insurance Company is a life insurance company in India. It is a joint venture between two of India’s public sector banks – Bank of Baroda (44%) and Andhra Bank (30%), and UK’s financial and investment company Legal & General(26%). It was incorporated in November 2009. It has its headquarters in Mumbai. IndiaFirst Life made more than INR2 billion (US$31 million) in turnover in just four and half months since the insurance company became operational. IndiaFirst Life insurance company is headquartered in Mumbai. IndiaFirst is the first life insurance company to be recommended for ISO certification within 7 months of inception.
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