Andhra Bank is one of the largest banks in India. It was founded by a freedom fighter known as Dr. Bhogaraju Pattabhi Sitaramaya.
The bank was incorporated as an institution for offering banking services on the 20th day of September, 1923.
The bank offers various services including online baking systems, corporate banking, retail banking and loan facilities.
The bank has a total of 13,224 employees who are mandated to carry out banking operations in the bank. It started its operations with a paid up capital of about Rs. 1.00 lakh and authorized capital of about 10.00 lakhs.
Since its incorporation as a bank, Andhra Bank has undergone various milestones that it successfully managed to overcome. It is ranked as one of the best performing banking institutions in India with business standing at Rs. 83,256 as at 30th June, 2008. The bank has a wide clientele base of about 1.74 million.
In addition, the bank has numerous business delivery channels and branches all over India. It has 66 extension counters, 664 ATM’s located all over the region, 38 satellite offices and 2 union territories. Its branches have a computerized system with 1186 units and 68 extension counters.
In order to enhance its performance, Andhra Bank put up 15 service centers that are all networked under the cluster banking solution. The cluster banking solution provides branch networking. The bank features a Real Time Gross Settlement facility that aids in its operation and a National Electronic Fund Transfer system that has been created in the 723 branches that the bank has all over the region.
In order to maximize provision of services to its customers, the bank has established mobile ATM system with biometric access. Besides the ATM system that is offered to its customers, the bank has an ATM sharing system with its partners.
Some of the banks that Andhra Bank partners with include SBI group, IDBI Bank, HDFC Bank, UTI Bank and Indian Bank. The bank has a Network switch that covers about 24856 ATMS in the region.
In order to increase its business operation further, the nationalized bank India has adopted a core banking solution system and is seeking to increase the total number of branches all over the region. This move will benefit not only its customers but also corporate institutions as it will ensure that they have access to financial services and banking facilities anytime of the day.