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Andhra Bank Q2 net up 22 pc

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Our Bureau

Hyderabad, Oct. 24

ANDHRA Bank has reported a growth of 21.55 per cent in net profit at Rs 132.89 crore (Rs 109.33 crore) for the second quarter of the current fiscal ended September 2005. The bank recorded a growth of 11.92 per cent in interest income at Rs 635.31 crore (Rs 567.64 crore).

However, the total income for the quarter under review declined by 9.12 per cent to Rs 753.23 crore (Rs 828.79 crore) primarily owing to the fall in treasury income. For the quarter, the profit on sale of investments declined to Rs 28.97 crore from Rs 168.9 crore in the corresponding quarter of previous fiscal.

Excluding the treasury income, total income improved by 9.75 per cent at Rs 724.26 crore (Rs 659.89 crore). In a press release, the bank said deposits grew by 23.37 per cent at Rs 29,871 crore.

(This article was published in the Business Line print edition dated October 25, 2005)
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