Bangalore, Jan 28: Andhra Bank has said it has broken into the bracket of top 1,000 banks of the world, as its operating profit zoomed 77 per cent to Rs 539.33 crore during the nine months ended December 31, 2002, over the corresponding period of the previous year (Rs 304.69 crore). Andhra bank has joined the handful of Indian banks in the top league, its Chairman and Managing Director B Vasanthan told reporters after the Board of Directors approved the unaudited Q3 numbers.
Andhra Bank is now ranked 957 in the world, he said.
Net profit for nine months was up 98.7 per cent at Rs 262.40 crore from Rs 132.05 crore, Vasanthan said, adding the bank's total business as on December 31, 2002 stood at Rs 30,713 crore (deposits of Rs 19,929 crore and advance of Rs 10,784 crore).
Net profit for Q3 jumped more than 120 per cent at Rs 112.68 crore, from Rs 46.78 crore.
Currently, the bank has 140 ATMs, which would be increased to 250 by March-end this year. Bureau Report