Wednesday, Jan 26, 2005
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By Our Special Correspondent
HYDERABAD, JAN. 25. Andhra Bank has posted a 30 per cent growth in net profit at Rs.121.84 crores for the third quarter ended December 31, 2004 against Rs.93.54 crores in the corresponding period of the previous year. Total business was up by 21.65 per cent to Rs. 40,998 crores from Rs. 33,703 crores. According to a press release issued here on Tuesday, growth in deposits was 17.61 per cent taking the total to Rs. 25,149 crores. Gross bank credit showed robust growth by 28.64 per cent at Rs.15,849 crores. Net non-performing assets declined to 0.11 per cent (Rs.16.44 crores) from 0.98 per cent (Rs.115 crores) during the corresponding period. Capital adequacy ratio went down to 13.02 per cent against 15.36 per cent in December 2003. It said priority sector advances constituted 42.24 per cent, against national target of 40 per cent. Agricultural advances constituted 18.23 per cent against national target of 18 per cent. Growth in agricultural advances year on year is 36.40 per cent to Rs.2,735 crores.
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