Hyderabad: State-run Andhra Bank has registered a 33.74% increase in its net profit to Rs213 crore during the third quarter (Q3) ending 31 December 2008.
Addressing a press conference, the bank’s CMD R.S. Reddy said the profit in the third quarter is increased by 33.74% from Rs159 crore during the same period last year.
He said the bank is poised to achieve a business level of Rs1 lakh crore by March next, thus becoming a major bank status.
He said the bank’s advances stood at Rs14,194 crore, which includes agricultural advances of Rs6,485 crore.
Reddy to a question said the overall performance of the bank is excellent and the corporate financing has not been affected due to slowdown in the economy.