Annual Report 2006-2007 of Andhra Bank

It is a broadly described annual report of Andhra Bank in the year of 2006-2007. During the financial year, The Bank’s Total Business increased to Rs. 69,687 Crore as at the end of 31^st March 2007, from Rs. 56.406 Crore as at the end of 31^st March 2006, registering a growth rate of 23.55%. The Total Deposits increased to Rs. 41,454 Crore from Rs. 33,922 Crore, registering a growth rate of 22.20%. The Operating Profit of the Bank has increased from Rs. 702.59 Crore for the year 2005-06 to Rs. 931.24 Crore for the current year, registering a growth rate of 32.54%. Net Profit improved from Rs. 485.50 Crore in the previous year to Rs. 537.90 Crore in 2006-07, registering a growth of 10.79%. Gross Profit from Core Operations (excluding Profit on Sale of Investments) of the Bank increased by Rs. 245.78 Crore to Rs. 877.53 Crore from Rs. 631.75 Crore, registering a growth rate of 38.90%.

The Board of Directors of the bank has recommended a final dividend of @18% for the financial year 2006-2007 and the dividend shall be paid on 05^th June 2007 to the shareholders.

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