Andhra Bank Q3 PAT seen down 6% to Rs 308 cr

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Andhra Bank Q3 PAT seen down 6% to Rs 308 cr

Andhra Bank is expected to report a profit after tax of Rs 308 crore in the third quarter of FY12, degrowth of 6% as compared to Rs 331 crore in the corresponding quarter of last fiscal.

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Andhra Bank is expected to report a profit after tax of Rs 308 crore in the third quarter of FY12, degrowth of 6% as compared to Rs 331 crore in the corresponding quarter of last fiscal.

Net interest income is seen going up by 14% to Rs 958 crore from Rs 840 crore year-on-year.

Highlights

- Loan growth expected at 19% 

- Deposit growth expected at 22%

- Expect margins to be stable 
* Downside risk due to higher than expected increase in cost of deposits

- Muted fee income to lead to flat non-interest income

- Expect slippages to decline post Q2 which saw higher slippages due to system based NPA recognition

- Exposure to stressed sectors remains very high - may lead to higher restructuring
* Rs 6500 crore exposure to power sector (7-8% of total advances)