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: Our Restaurant Chain Serves Fresh Pizza, Pasta, Soups and..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 30lac - 50lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Pune Maharashtra
  • Laundry & Dry Cleaning
    About Us: Established in 2012, Western Dhobi Grandeur is an innovative..
    Locations looking for expansion Maharashtra
    Establishment year 2012
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater PUNE Maharashtra
  • Others Food Service
    About Us: With renowned success of Above & Beyond and Patch..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Multi Cuisine Restaurant
    About Us: Multi cuisine restaurant which serves Italian , Mexian ,..
    Locations looking for expansion Maharashtra
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
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