Andhra Bank first half net up by 21 per cent

Operating profit zooms to Rs. 429.59 crores

Andhra Bank has reported a net profit of Rs.262.85 core during the first half of the financial year ended September 30, 2006. The operating profit went up by 19.1 per cent to Rs. 429.59 crores from Rs. 360.62 crore while interest income increased by 2.3 percent to Rs.1531.99 crore from Rs.1252.54 crore.

Speaking at a press conference on Thursday, the Chairman and Managing Director K Ramakrishnan said that the Bank's total income during the period increased to Rs.172.49 crore from Rs.1447.66 crore. The business increased to Rs.56,113 crore of which gross credit had risen to 32,513 crore.

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