Andhra Bank to extend finance to women's self-help groups in AP
By Our Banking Bureau | 20 Mar 2003
1
Andhra Bank is concentrating on extending finance to self-help women's groups in the state of Andhra Pradesh.
The bank has so far lent Rs 169 crore to 78,048 such groups with a total membership of 6 lakh women, says Andhra Bank executive director R Balakrishnan. “The bank has received Nabard awards for its performance on this front. The recovery percentage was 97%.“
Balakrishnan says the operating profit of the bank had risen to Rs 539.33 crore during the nine months ended 31 December 2002 from Rs 304.69 crore during the previous year and the net profit had gone up to 262.40 crore from Rs 132.05 crore. Deposits amounted to Rs 19,929 crore and advances Rs 10,784 crore.
Gross non-performing assets (NPAs) as on 31 December 2002 stood at Rs 626.60 crore and net NPAs at Rs 202.89 crore.
