Andhra Bank

Chandrababu Naidu's swearing-in today; Pawan Kalyan to be deputy CM?

Chandrababu Naidu will assume the office of chief minister of Andhra Pradesh for the fourth time today. PM Narendra Modi and Amit Shah are among key guests set to attend the swearing-in ceremony

Union Bank of India at 52-week high, stock rallies 42% so far in October

Post merger of Andhra Bank and Corporation Bank, Union Bank has raised capital which has improved the capitalisation levels of the bank enhancing its ability to absorb asset quality pressures

How the PSU bank merger that comes into force on April 1 will impact you

PSU Bank merger: You'll have to take stock of your cheque books, passbooks, IFCS, ECS mandates and other things once you start dealing with the new entity

Seven merged banks to see cheque book changes from April 1

The banks affected by these changes are Dena Bank, Vijaya Bank, Corporation Bank, Andhra Bank, Oriental Bank of Commerce, United Bank and Allahabad Bank.

Union Bank completes IT integration of all Andhra Bank branches with itself

Union Banks it has completed IT integration of all branches of erstwhile Andhra Bank with itself

S&P affirms Union Bank's long, short term rating, revises SACP to 'BB-'

The bank's capital buffers have weakened due to the its merger with Andhra Bank and Corporation Bank earlier this year

One month of bank merger: Coronavirus lockdown proves a dampener

On April 1, Punjab National Bank (PNB) took over Oriental Bank of Commerce (OBC) and United Bank of India (UBI) to become the country's second-largest lender after SBI in terms of business

We might raise capital through AT-1 bonds in H2, says Rajkiran Rai G

Union Bank of India's Rajkiran Rai G, in an interview with Abhijit Lele, talks about managing the integration of banks amid lockdown, raising capital

Market Ahead, April 1: Top Factors That Could Guide Markets Today

Starting today, automobile companies will starting releasing sales numbers for March. According to a Business Standard report, these auto sales for the month could see a 50 per cent YoY

Coronavirus outbreak disrupts PSB merger as banks put programmes on hold

According to the banks, they have either put the sessions on hold or are opting for e-learning instead of classroom sessions.

Telangana banks' advances grew 0.37% to Rs 1,966 cr in first half of FY20

Total advances by all sources - public sector banks, private sector banks and co-operative banks rose to Rs 53,5840.18 crore in September 2019 from Rs 5,33,874,07 crore in March, 2019.

Financial sector needs to rebuild trust, says YES Bank CEO Ravneet Gill

Edited excerpts from a discussion at the Business Standard Banking Round Table held in Mumbai

Top events today: UNSC meet on Kashmir, SC hearing on Article 370 and more

From Amit Shah to address rally in Haryana to Andhra Bank slashing 25 bps today onwards, Business Standard brings you top events of the day

Warburg Pincus may buy Andhra Bank's 20.5% stake in IndiaFirst, says report

Deal could be valued at Rs 700 cr; Analysts say this could be seen as a direct impact of the recently-announced mega-mergers of 10 state-run banks into four

Top 10 biz headlines: GST rate cut for Auto sector, Hyundai sales, and more

From Eveready's plan to sell battery business to Air India posting operational losses, here are the top business headlines for Monday

Recent CoC decisions raise hopes for the return of errant promoters

Two recent CoC decisions give hope to those who were pushed out of their company's management due to IBC provisions

Government creates banking behemoths to boost India's flagging economy

News of the mergers comes minutes before official data is expected to confirm a fifth-straight quarter of slowing economic growth

Amalgamating 10 govt banks into 4 entities in mega consolidation move: FM

After today's mergers, the count of government-owned banks will come down to 12 from 27 in 2017

Andhra Bank posts net profit of Rs 52 cr in Q1; total income grows 6.77%

The bank's total business grew 9.22 per cent at Rs 33,503 crore during the quarter

Andhra Bank takes large NPA hit from iron & steel and infra sectors

BS ReporterHyderabad, 16 March: Iron and Steel and infrastructure sectors contributed to almost 50 percent of Andhra Bank's gross non-performing assets (NPAs) as the bank continues to witness more slippages during the current financial year. A fresh Rs 58.35 billion were added to the gross NPAs during the first three quarters of the year while the bank was able to reduce the existing NPAs worth of Rs 19.05 billion during the same period. As a result the total gross NPAs rose to Rs 215.99 billion from Rs 176.7 billion at the beginning of the financial year, taking the ratio to an all time high of 14.26 percent.Most of the bank's exposure to Iron and Steel industry resulted in to NPAs. As much as Rs 51.18 billion outstanding loan went bad out of the total exposure of Rs 78 billion. With Rs 41.73 billion in NPAs, infrastructure sector came close second even though this sector has had the largest size of write-offs at Rs 3.63 billion followed by textiles-cotton sector with Rs 1.53 ...