Hotline: 1800 102 2007
X
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
  • Ice creams & Yogurt Parlors
    About: 51Rainbow Ice Cream has specialty in providing quality and value..
    Locations looking for expansion Delhi
    Establishment year 1988
    Franchising Launch Date 2017
    Investment size Rs. 10000 - 50 K
    Space required 100
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater New delhi Delhi
  • Tea and Coffee Chain
    CAFÉ Chococraze; the mad house for chocolate lovers, we are..
    Locations looking for expansion Maharashtra
    Establishment year 2010
    Franchising Launch Date 2012
    Investment size Rs. 5lac - 10lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Haveli Maharashtra
  • Laziz opens 100+ Stores across India in 2017 LAZIZ  PIZZA ™..
    Locations looking for expansion Maharashtra
    Establishment year 2010
    Franchising Launch Date 2012
    Investment size Rs. 5lac - 10lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Kolhapur Maharashtra
  • Tea and Coffee Chain
    About: The Tea Junction operates 25 outlets in the lovely city..
    Locations looking for expansion West bengal
    Establishment year 2004
    Franchising Launch Date 2017
    Investment size Rs. 10lac - 20lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Saltlake West bengal
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