Andhra Bank

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Andhra Bank

Company type	Public
Traded as	NSE: ANDHRABANK BSE: 532418
Industry	Banking Financial services
Founded	28 November 1923; 100 years ago (1923-11-28)
Founder	Bhogaraju Pattabhi Sitaramayya
Defunct	1 April 2020; 4 years ago (2020-04-01)
Fate	Merged with Union Bank of India
Successor	Union Bank of India
Headquarters	Hyderabad, Telangana, India
Areas served	India Dubai Malaysia Jersey City, United States
Key people	J. Packirisamy (MD & CEO)
Products	Consumer banking, Credit cards, corporate banking, finance and insurance, private banking, wealth management, Agricultural Loans
Revenue	₹20,977.26 crore (US$2.5 billion) (2018-19)[1]
Operating income	₹5,023.12 crore (US$600 million) (2018-19))[1]
Net income	₹−2,786.13 crore (US$−330 million) (2018-19)[1]
Total assets	₹249,311.41 crore (US$30 billion) (2018-19)[1]
Number of employees	20,346 (2018-19)[1]
Capital ratio	13.68% (2018-19)[1]

Andhra Bank 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.^[2] During 2011–12, the bank entered the states of Tripura and Himachal Pradesh. It operated in 25 states and three union territories. It had its headquarters in Hyderabad, Telangana, India. Along with Corporation Bank, Andhra Bank was merged with Union Bank of India in April 2020.

The government of India owned 90.85% of its share capital as of 31 March 2019. The state-owned Life Insurance Corporation held 7.80% of the shares. The bank had done a total business of ₹3,106 billion (US$37 billion) and has earned a net profit of ₹5.40 billion (US$65 million) for the financial year 2015–16.^{[citation needed]}