Andhra Bank Merged Share Price

Summary

Andhra Bank (AB) was founded by the eminent freedom fighter and a multifaceted genius, Dr. Bhogaraju Pattabhi Sitaramayya. The Bank was registered in 20th November 1923 and commenced its business in 28th November 1923. The bank offers innovative and need based financial products and services using state-of -the art technology. As on 31 March 2019, the bank had 6,687 Delivery Channels consisting of 2,885 Branches, 4 Extension Counters, and 3,798 ATMs including BNAs/ CRs spread over 26 States and 3 Union Territories. The bank has 44 Specialized Branches catering to the needs of the specific segments of clientele. The bank also has one representative (overseas) Office at Dubai (U.A.E) (opened in May 2006). Andhra Bank is a pioneer in Credit Card Business, both as issuer and acquirer (merchant business) since 1981.Andhra Bank, Bank of Baroda and Indian Overseas Bank jointly own a banking unit in Malaysia. Andra Bank the Banks stake in the venture is 25%. The joint venture viz. INDIA INTERNATIONAL BANK (MALAYSIA) BHD commenced business on 11 July 2012.Andhra Bank is an Authorised Dealer; to deal in foreign exchange business through 56 designated B category branches of the Bank. The bank has speed remittance arrangements with an Exchange House based in Gulf. Andhra Bank has a joint venture in insurance with Bank of Baroda and Legal and General Plc of UK named India First Life Insurance Co. Ltd. Andhra Banks stake in the venture is 30% while Bank of Baroda holds 44% and Legal and Ge
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