Andhra Bank Q3FY08 Results

Andhra Bank has announced the following Unaudited results for the quarter ended December 31, 2007:

The Bank has posted a net profit of Rs 1590.207 million for the quarter ended December 31, 2007 as compared to Rs 1362.799 million for the quarter ended December 31, 2006. Total Income has increased from Rs 9269.214 million for the quarter ended December 31, 2006 to Rs 12333.401 million for the quarter ended December 31, 2007.

Bank of Baroda, Andhra Bank MoU with UK partner

Bank of Baroda has informedthat the Bank, Andhra Bank and M/s. Legal & General Group plc, UK have signed an MoU on November 16, 2007 to form a Joint Venture (JV) for Life Insurance Business, wherein the equity participation in the proposed JV would be (i) Bank of Baroda - 44%, (ii)Andhra Bank - 30% and (iii) M/s. Legal and General plc, UK - 26%.

The partners would initiate various steps to operationalise the JV in due course.

Andhra Bank Q2 Results

Andhra Bank has announced the following Un-Audited results for the quarter ended September 30, 2007:

The Bank has posted a net profit of Rs 1512.130 million for the quarter ended September 30, 2007 as compared to Rs 1464.366 million for the quarter ended September 30, 2006. Total Income has increased from Rs 8825.226 million for the quarter ended September 30, 2006 to Rs 11834.122 million for the quarter ended September 30, 2007.