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:

and Rural areas by IDRBT, Hyderabad Roll of Honour“ under Mid-sized Banks Category
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
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