Andhra Bank

NCLT awards Lanco Solar Energy to JVS-Derit Infra consortium

Lanco Solar was ordered to undergo insolvency proceedings following an application filed by lender Andhra Bank in June 2019.

Hyderabad-based infra firm IVRCL booked for alleged bank fraud of Rs 4,837 crore, CBI raids premises

The central probing agency had earlier booked IVRCL and its directors on a complaint from the State Bank of India and raided their premises for an alleged fraud worth over Rs 4,800 crore against a consortium of banks.

RBI excludes 6 PSBs from Second Schedule of RBI Act

A bank mentioned in the Second Schedule of the Reserve Bank of India Act is known as 'Scheduled Commercial Bank'. These six banks merged with other public sector banks (PSBs) with effect from April 1.

Merged PSBs to ensure no disruption to credit flow, enhanced customer experience: FinMin

Finance Minister Nirmala Sitharaman on March 12 held meetings with chief executives of these banks, including Andhra Bank, Corporation Bank and Union Bank of India.

Andhra Bank Consolidated December 2019 Net Interest Income (NII) at Rs 1,845.67 crore, up 4.35% Y-o-Y

Andhra Bank posts net profit of Rs 175cr in December quarter

Gross non-performing assets (NPAs) worsened to 17.26 per cent of the gross advances at the end of December 2019, compared with 16.68 per cent a year ago.

Andhra Bank share price falls 3% after RBI imposes Rs 25 lakh penalty

The bank was fined for non-compliance with RBI's directions on KYC norms, anti-money laundering standards and opening of current accounts.

RBI imposes Rs 25 lakh fine on Andhra Bank for violating KYC, AML norms

The penalty has been imposed in exercise of powers vested in RBI under the provisions of the Banking Regulation Act, 1949, taking into account the failure of the bank to adhere to the aforesaid directions issued by RBI, it said.

Andhra Bank to cut MCLR by 10 bps across all tenors from today

The benchmark one-year tenor MCLR, which is used to price most of the consumer loans, has been brought down to 8.30 per cent from 8.40 per cent.

Warburg may acquire an additional 20.5% stake in IndiaFirst from Andhra Bank

The sale is expected to bring in Rs 700 crore for state-run lender Andhra Bank

Andhra Bank board okays merger with Union Bank

Finance Minister Nirmala Sitharaman recently announced the merger of Oriental Bank of Commerce and UnitedBankwith Punjab National Bank, Syndicate Bank with Canara Bank, while Andhra Bank and Corporation Bank would merged with Union Bank of India.

Andhra Bank cuts MCLR by 25 basis points

The bank said it would soon introduce repo rate linked deposit and loan products.

Andhra Bank Standalone June 2019 Net Interest Income (NII) at Rs 1,650.59 crore, up 13.04% Y-o-Y

Andhra Bank back in the black, posts Q1 standalone net profit of Rs 52 cr

The lender's total income, however, increased to Rs 5,437.03 crore in three months to June 2019 as compared with Rs 5,092.08 crore in the year-ago period, Andhra Bank said in a regulatory filing on August 2.

SFIO seeks action against Bhushan Steel's lenders, including SBI, PNB, LIC

In its report that runs into over 70,000 pages, the investigating agency has charged officials of 13 banks of being hand-in-glove with the Bhushan Steel promoters

Andhra Bank board approves raising Rs 2,000 cr equity capital

The board of directors of the bank at its meeting held on June 24, 2019, approved the proposal to raise the equity capital amounting to Rs 2,000 crore.

Andhra Bank Standalone March 2019 Net Interest Income (NII) at Rs 1,821.45 crore, up 5.87% Y-o-Y

Andhra Bank Q4 loss narrows to Rs 1,224 cr

The bank had booked a net loss of Rs 2,535.82 crore in the corresponding quarter of 2017-18.

Andhra Bank surges 2% on preferential share allotment to govt

At 0943 hrs, Andhra Bank was quoting Rs 28.25, up 1.62 percent on the BSE.

19 PSBs write off loans worth Rs 41,000 crore in Q3FY19: Report

The rise in the pace of the write-off exercise indicates that write-offs may be sizeable in the current year too.

Andhra Bank Standalone December 2018 Net Interest Income (NII) at Rs 1,698.27 crore, up 1.56% Y-o-Y

Andhra Bank's net loss widens to Rs 579 cr in Q3 as bad loans spurt

Total income, however, rose to Rs 5,322.33 crore for the third quarter of 2018-19 as against Rs 5,093.43 crore in same period last year, Andhra Bank said in a regulatory filing.

Andhra Bank to divest stakes in joint ventures

Andhra Bank earlier last week reported a net loss of Rs 434 crore in second quarter of this fiscal, which widened against Rs 385.11 crore loss in year ago same period.

Andhra Bank Standalone September 2018 Net Interest Income (NII) at Rs 1,728.39 crore, up 15.14% Q-o-Q

Sterling Biotech bank fraud: The reputation and independence of CBI at stake

The controversy surrounding the appointment of Rakesh Asthana and how the probe into his misdemeanours is being thwarted, raises the question of whether the government exercises political discretion in selecting candidates who are pliant to their agenda.