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ANDHRABANK meaning in NSE Company Symbol ? |
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Answer» What is Andhra Bank mean? Andhra Bank (BSE: 532418, NSE: ANDHRABANK) was a medium-sized public sector bank (PSB) of India, with a network of 2885 branches, 4 extension counters, 38 satellite offices and 3798 automated teller machines (ATMs) as of 31 March 2019. During 2011–12, the bank entered the states of Tripura and Himachal Pradesh. The bank operated in 25 states and three Union Territories. Andhra Bank had its headquarters in Hyderabad, Telangana, India. As per the announcements made by Minister of Finance (India) in August 2019, Andhra Bank merged with Union Bank of India in April 2020. The Government of India owned 90.85% of its share capital as on 31 March 2019. The state owned Life Insurance Corporation of India holds 7.80% of the shares. The bank had done a total business of ₹3,106 billion (US$41 billion) and has earned a net profit of ₹5.40 billion (US$72 million) for the Financial Year 2015–16.Cabinet approved merger of Andhra Bank & Corporation Bank into Union Bank on 04.03.2020.Board of directors of bank earlier approved merger into union bank on 13.09.2019. reference nan |
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