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Andhra Bank’s net profit increased 20.63 per cent at Rs 386 crore in the first quarter ended June 30, 2011, compared with Rs 320 crore in the year-ago period.
The increase in net profit was primarily driven by a 23.64 per cent growth in net interest income at Rs 910 crore, Mr R. Ramachandran, Chairman and Managing Director, told newspersons here on Thursday.
The net interest margin increased to 3.77 per cent (3.72). The total business increased 26 per cent to over Rs 1.66 lakh crore. The earnings per share was at Rs 6.89 (Rs 6.61).
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