Andhra Bank Q2 PAT seen up 6% at Rs 321 cr

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Andhra Bank Q2 PAT seen up 6% at Rs 321 cr

Andhra Bank is expected to report a profit after tax of Rs 321 crore in the second quarter of FY12, a growth of 6% as compared to Rs 303 crore in the corresponding quarter of last fiscal.

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Andhra Bank is expected to report a profit after tax of Rs 321 crore in the second quarter of FY12, a growth of 6% as compared to Rs 303 crore in the corresponding quarter of last fiscal.

Net interest income is seen going up by 15% to Rs 904 crore from Rs 783 crore during the same period.

Factors to watch

-Margins compression could be around 15 - 20 bps

-Higher slippages from agriculture could result in further compression

-Provisions to remain high as bank transits to system recognition of NPAs

-Non interest income expected to grow 30% driven by higher trading gains

-Deposit growth 22%

-Loan growth at 25%