The bank said it was the lead bank of the consortium in case of two group companies of Sterling Group and the exposure to these companies is Rs 578.57 core (fund based) and Rs 568.35 crore (non-fund based) as on date and not as Rs 5,000 crore appeared in media reports.
The bank was responding to a clarification sought by stock exchanges in a news article about loans to Sterling group.
"He was neither an employee nor a whole time director in the bank at any point of time," it said in a regulatory filing.
Meanwhile, in a separate filing, Bangalore-headquartered Canara Bank said Abhijeet Group was declared a wilful defaulter on October 6, 2017.
Also Read
Further, the Enforcement Directorate has sought details on February 26, 2018 about transactions details and the same has been furnished on February 27, 2018.
Andhra Bank said its exposure to the Sterling group companies was classified as non-performing assets since March 2015 onwards based on the conduct of the account.
"As on December 31, 2017, out fund based exposure to the group companies is to the tune of Rs 515.19 crore and stands classified as non-performing asset," it said.
"We have already lodged formal complaint with CBI against the companies," the bank said.
Andhra Bank shares closed 6.88 per cent down at Rs 35.85 apiece on BSE while Canara Bank was up 1.42 per cent at Rs 238.55.
Disclaimer: No Business Standard Journalist was involved in creation of this content