Andhra Bank Performance Highlights for December 2011
OREANDA-NEWS. February 3, 2012. Total Business crossed the Rs.1,75,000 Crore Mark registering an impressive Year on Year Growth of 20.4% over December 2010
Performance Highlights for the Q3 FY 2011-12 and 9M FY 2011-12 ended
December 2011
• Total Business of the Bank stood at Rs.1,77,850 Crore, recording a Y-o-Y growth of 20.4% over Rs.1,47,682 Crore in Dec'10.
• Deposits at the end of Dec'11 stood at Rs.98,680 Crore as compared to Rs.82,095 Crore in Dec'10, registering a growth of 20.2% on Y-o-Y basis.
• Advances recorded a growth of 20.7% (Y-o-Y) reaching the level of Rs. 79,169 Crore as on Dec'11 from Rs. 65,587 Crore as on Dec'10.
• CASA Deposits increased to Rs. 26,261 Crore in Dec'11 from Rs. 23,428 Crore in Dec'10.
• CASA share in Total Deposits is 26.6% as at end of Dec'11.
• Total Income during Q3 FY'11-12 rose by 36.1% to Rs. 3158 Crore.
• Total Income during 9M of FY'11-12 increased to Rs.8970 Crore, recording a growth of 37.5%.
• Net Interest Income during Q3 FY'11-12 improved to Rs.984 Crore recording a growth of 17.1 % over Q3 FY'10-11.
• During 9M FY'11-12 N I I improved by 20.6 % to Rs. 2845 Crore.
• Operating Profit for Q3 FY'11-12 stood at Rs. 767 Crore as against Rs. 627 Crore in Q3 FY'10-11, registering a Y-o-Y growth of 22.3%.
• Operating Profit grew by 26.6% to reach Rs.2154 Crore in 9 months of FY'11-12 as compared to Rs.1702 Crore for 9M FY'10-11.
• Net Profit for Q3 of FY '11-12 stood at Rs.303 Crore for the Quarter ended December 2011. For the nine month period ended December 2011, Net Profit stood at Rs.1005 Crore.
• Gross NPA ratio stood at 2.38% as at Dec'11 while Net NPA ratio is 1.21%.
• Net Interest Margin (NIM) stood at 3.81% for the quarter ended Dec'11 and 3.80% for 9 months ended Dec'11.
• Return on Assets stood at 1.07% in the Q3 of FY 2011-12 and at 1.21 % for 9 Months ended Dec'11.
• Cost of Deposits stood at 7.58% for Q3 FY 2011-12 and 7.35% for 9M FY 2011-12.
• Yield on Advances stood at 12.75% for Q3 FY 2011-12 and 12.46% for 9M FY 2011-12.
• Cost to Income ratio stood at 37.04% in Q3 FY 2011-12 as against 39.67% for Q3 of Dec'10 and 38.02 % in 9M FY 2011-12 Dec'11 as against 42.46% for 9 months of FY 2010-11 Dec.10.
• Earnings Per Share was Rs.17.96 for the period ended Dec'11.
• Book Value per Share improved to Rs.
• CRAR of the Bank improved to 12.58 % under BASEL-II (Tier-I Capital: 8.24%; Tier-II Capital: 4.34%) as compared to 12.00% in the previous year.
• Gross NPAs of the Bank stood at Rs.1884.13 Crore and the Net NPAs stood at Rs.943.27 Crore as at the end of Dec.'11
• During the Current FY, the Bank has opened 68 Branches taking the PAN India presence to 2803 Delivery Channels consisting of 1700 Branches, 15 Extension Counters, 38 Satellite Offices and 1050 ATMs.
• Priority Sector Advances improved to Rs.24197 Crore as on 31.12.2011 from Rs.21585 Crore as on 31.12.2010, recording a growth of 12.10%.
• Advances to Agriculture have gone up to Rs.11368 Crore as on 31.12.2011, from Rs.10057 Crore as on 31.12.2010, recording a growth of 13.03%.
• MSME Advances registered a growth of 20.65% and stood at Rs.11862 Crore as at the end of December 2011 as against Rs.9832 Crore in Dec'10.
• Retail Credit Portfolio of the Bank increased to Rs.10931 Crore as on 31.12.2011 compared to Rs.10019 Crore as on 31.12.2010, registering a Y-o- Y growth of 9.10%.
• Bank aims at covering 1144 villages with population of more than 2000 by the end of March, 2012, through Business Correspondent (BCs) Model, by leveraging technology. As at the end of 31st December, 2011, 1144 villages have been covered by the Bank and 2.54 lac of No-frills accounts have been opened with 'built-in' overdraft facility.
• Smart Card Project: Bank has been implementing Smart Card Project in
association with Govt.of AP in 4 Districts - viz., Srikakulam,
• Till 31st December, 2011, 14.88 lacs cards were issued to beneficiaries covering 2665 villages, and an amount of Rs.386 Crore was disbursed.
• Bank has launched e-Donations facility for donations to Shri
• Bank launched new e-Banking Centres at Nanakramguda Branch and Vidyanagar Branch on 31.12.2011. The facilities include :
1. ATM Machines, 2.
• 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 comprising 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 (Rs.25,000/-), Gold (Rs.50,000/-) and Platinum (Rs.1,00,000/-).
The Prepaid Cards launched by Bank in September 2011 under Gift and International Travel received good response from the Customers.
• Gift Cards which are Initially issued at select Branches, is proposed for extending in the remaining Branches also. Presently, the Gift Cards are issued without any charges. The Gift Cards are available in flexi denomination from Rs.250/- to Rs.50,000/-. The Gift Cards are preloaded. Hence, while considering the safety point of the Cardholders, several risk mitigation measures are implemented for operating the Gift Cards, like :
o PIN is enabled for POS usage and is subject for prompting PIN at POS Terminal.
o Cardholder can lock the card temporarily when the card is not used.
o SMS Alerts are enabled for all transactions
The International Travel Prepaid Cards are issued initially under US Dollars. While considering the Customers affordability, the Cards are issued with an initial load of USD 200 and reloading of USD 100. The Cards are issued without charges.
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