Andhra Bank – Milestones
Andhra Bank was founded by ardent freedom fighter and a great intellectual and multifaceted genius, Dr.Bhogaraju Pattabhi Sitaramayya. Andhra Bank was registered on 20th November 1923 and commenced business on 28th November 1923. The Milestones of Andhra Bank are as under:
| Year | Event |
|---|---|
| 1923 | Commenced operations at Machilipatnam |
| 1943 | Attained status of Scheduled Bank |
| 1964 | Opened 100th Branch and attained the status of “A” class Bank |
| 1964 | Amalgamation of Bharat Laxmi Bank with Andhra Bank |
| 1969 | Largest Private Sector Bank in the country |
| 1969 | Bank was entrusted with “Lead Bank” responsibility in five districts |
| 1976 | Bank opened its 500th Branch |
| 1980 | Nationalization of the Bank |
| 1981 | Sponsored the first Regional Rural Bank (Rushikulya Grameena Bank) |
| 1981 | First Bank in India to introduce “Credit Cards” |
| 1983 | Diamond Jubilee Celebrations & surpassed Business of Rs. 1750 crore |
| 1984 | Became convenor of “State Level Bankers Committee” in AP State |
| 1988 | Introduced Insurance Linked Savings Deposit Scheme (Abhaya) |
| 1989 | Bank opened its 1000th Branch |
| 1997 | Surpassed Rs.10000 crore mark in Total Business |
| 1998 | First Bank to introduce farmer friendly “Kisan Credit Card” (AB Pattabhi Card) |
| 2001 | Initial Public Offer (IPO) |
| 2002 | Introduction of New Delivery Channel – First Networked ATM |
| 2003 | Achieved 100% “Branch Computerization” |
| 2005 | Banking Technology Award for use of IT for customer service in Semi-Urban |
| 2006 | Follow-on Public Offer (FPO) |
| 2006 | First Representative Office abroad (Dubai) |
| 2006 | Banking Technology Award 2006 for Payment Initiatives from IBA |
| 2006 | Conducted BANCON 2006 “Inclusive Growth – A New Challenge” |
| 2007 | Ranked 532 among Top 1000 Banks in the world |
| 2008 | Opened Representative Office at New Jersy, USA |
| 2009 | 100% implementation of “Core Banking” |
| 2009 | Crossed Rs. 1 lakh crore Total Business |
| 2009 | Entered Joint Venture with “IndiaFirst Life Insurance Company Limited” |
| 2010 | Crossed Rs. 1000 crore Net Profit |
| 2010 | Best Bank Award for “Quality of Assets”, “CAMEL Rating” and “Mid-size” Bank |
| 2010 | Andhra Bank, Bank of Baroda & Indian Overseas Bank has entered into a tie up for setting up a banking subsidiary in Malaysia “India International Bank (Malaysia) Bhd” and is in the process of commencing business |
| 2011 | Best Bank and Financial Institution Awards by CNBC TV18 – “Editorial Board |
| 2012 | RSETI Rajahmundry adjudged as “Best RSETIs” in the country |
| 2012 | Special Jury Award for “ATM Operations Excellence” by NPCI |
| 2012 | Crossed “Two Lakh Crore” Business by 31st December 2012 |
| 2013 | Introduced Strategic Business Transformation Initiatives – NavShakti |
| 2013 | Best R-SETI award to ABIRD, Rajahmundry |
