Annual Report 2008-2009 of Andhra Bank

It is a broadly described annual report of Andhra Bank in the year of 2008-2009. During the financial year, The Bank’s Total Business increased by 23.60% to reach Rs. 1,03,818 Crore as on 31^st March 2009 from Rs. 83,993 Crore as on 31^st March 2008 Deposits increased by 20.13% and stood at Rs. 59,390 Crore against Rs. 49,437 Crore in the previous year. Operating profit increased from Rs. 1,057 Crore as on 31^st March 2008 to Rs. 1288 Crore as on 31^st March 2009. Net Profit earned was Rs. 653 Crore, as at the end of March 2009 compared to Rs. 576 Crore as at the end of March 2008. Earnings per Share increased to Rs. 13.46 from Rs. 11.87, while Book Value per Share increased from Rs. 67.00 to Rs. 75.20.

The Board of Directors of the bank has recommended a dividend of @45% for the year 2008-2009.

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