Hotline: 1800 102 2007
Hotline: 1800 102 2007
Search Business Opportunities
2009-10-29

SMEs fuel Andhra Bank’s Growth

Owing to the growth in credit to small and medium enterprises (SME) and retail sectors and a decline in cost of deposits, Andhra Bank reported a 69 per cent rise in net profit to Rs 274 crore for the

Owing to the growth in credit to small and medium enterprises (SME) and retail sectors and a decline in cost of deposits, Andhra Bank reported a 69 per cent rise in net profit to Rs 274 crore for the quarter ended September 30. The bank’s net profit in the same period last year was Rs 162 crore.

 

The bank had seen a 52 per cent growth in credit to the SME sector and a 34.7 per cent growth in credit to the retail sector, because of better returns on advances. SME and retail segments accounted for 14 per cent and 15 per cent, respectively, of the bank's total income.

 

This was also facilitated by rolling over of high-cost deposits. Fee-based income rose to Rs 15.55 crore from Rs 9.55 crore in the same period last year.

 

Related opportunities
  • Casual Dine Restaurants
    About Us: Established in the year 2010 by Celebrity Chef Pascal..
    Locations looking for expansion Delhi
    Establishment year 2000
    Franchising Launch Date 2010
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
  • About Us: The Bombay Sultani Biryani House, started in the year..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Cosmetics & Beauty Product Stores
    About Us: Established in the year 2000, Renewcell Cosmedica LLP formerly..
    Locations looking for expansion Maharashtra
    Establishment year 2000
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Juices / Smoothies / Dairy Parlors
    About Us: Aarkali retails private limited clothing brand for Women is..
    Locations looking for expansion Delhi
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts