please help improve it or discuss these issues on the talk page . learn how and when to remove these template messages this article contains wording that promotes the subject in a subjective manner without imparting real information . please remove or replace such wording and instead of making proclamations about a subject s importance use facts and attribution to demonstrate that importance . january 2009 learn how and when to remove this template message this article needs additional citations for verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . april 2015 learn how and when to remove this template message this article relies too much on references to primary sources . please improve this by adding secondary or tertiary sources . january 2009 learn how and when to remove this template message learn how and when to remove this template message andhra bank type public traded as nse andhrabank bse 532418 industry finance founded 20 november 1923 ; 92 years ago 1923 11 20 founder bhogaraju pattabhi sitaramayya key people suresh n patel md & ceo products consumer banking credit cards corporate banking finance and insurance private banking wealth management agricultural loans revenue 178.68 billion us 2.7 billion for the fiscal year ended 31 march 2015 operating income 32.98 billion us 490 million for the fiscal year ended 31 march 2015 net income 6.38 billion us 95 million for the fiscal year ended 31 march 2015 total assets 1 295.76 billion us 19 billion 2015 1 number of employees 29 598 2013 1 website www.andhrabank.in andhra bank logo old logo of andhra bank andhra bank bse 532418 is a medium sized public sector bank psb of india with a network of 2803 branches 4 extension counters 38 satellite offices and 3636 automated teller machines atms as of 31 mar 2016 . 1 during 2011 12 the bank entered the states of tripura and himachal pradesh . the bank now operates in 25 states and three union territories . andhra bank has its headquarters in hyderabad india . the government of india owns 63.97 % of its share capital as on 31 dec 2015 . the state owned life insurance corporation of india holds 7.66 % of the shares . the bank has done a total business of 3 106 billion us 46 billion and has earned a net profit of 5.40 billion us 80 million for the financial year 2015 16 . andhra bank is a pioneer in introducing credit cards in the country in 1981 . andhra bank has ranked no. 1 in terms of number of life insurance policies mobilised amongst all the agency banks dealing with the life insurance corporation of india . the bank also has tie up with united india insurance company limited under bancassurance non life . citation needed contents 1 history 2 products and services 3 international expansion 4 awards 5 community involvement 6 see also 7 references 8 external links history edit dr bhogaraju pattabhi sitaramayya dr. bhogaraju pattabhi sitaramayya founded andhra bank in 1923 in machilipatnam andhra pradesh . the bank was registered on 20 november 1923 and commenced business on 28 november 1923 with a paid up capital of 100 000 us 1 500 and an authorised capital of 1 million us 15 000 in 1956 linguistic division of states was promulgated and hyderabad was made the capital of andhra pradesh . the registered office of the bank was subsequently shifted to andhra bank buildings sultan bazar hyderabad . in the second phase of nationalisation of commercial banks commenced in april 1980 the bank became a wholly owned government bank . in 1964 the bank merged with bharat lakshmi bank and further consolidated its position in andhra pradesh . indiafirst life insurance company is a life insurance company in india . it is a joint venture between two of india s public sector banks bank of baroda 44 % and andhra bank 30 % and uk s financial and investment company legal & general 26 % . it was incorporated in november 2009 . it has its headquarters in mumbai . indiafirst life made more than 2 billion us 30 million in turnover in just four and half months since the insurance company became operational . indiafirst life insurance company is headquartered in mumbai . indiafirst is the first life insurance company to be recommended for iso certification within 7 months of inception . products and services edit andhra bank at koti amroha andhra bank complex at visakhapatnam the products and services which are provided by the bank are mainly categorised into businesses of retail corporate nri msme and agricultural industries . under the retail business the bank offers deposits loans cards dmat services p payment services insurance and mutual funds to individual customers . under the corporate business the bank offers loans & advances project appraisals and loan syndication . under the nri business segment the bank offers deposit schemes loans remittance services and investment services to the non resident indians . under the msme business segment the bank offers different schemes that aimed at providing loan and transaction services to micro small and medium enterprises msme . some of the msme schemes available are ots scheme composite loan scheme open cash credit occ artisans credit card acc ab laghu udhyami credit card lucc ab power tools shakti technology upgradation fund scheme tufs credit guarantee fund trust for small industries cgtsi ab doctor plus ... etc. under the agriculture business segment bank provides different credit schemes to farmers women empowerment schemes and andhra bank rural development trust abrdt helps rural self employment training institutes rsetis . andhra bank introduced internet banking facility ab infi net to all customers of cluster linked branches . rail ticket booking facility is made available to all debit card holders as well as to internet banking customers through irctc website through a separate gateway . corporate website is available in english hindi and telugu languages communicating bank s image and information . bank has been given best bank award a banking technology award by idrbt hyderabad for extensive use of it in semi urban and rural areas on 2 september 2006 . 2 iba jointly with tfci has conferred the joint runner up award to the bank in the best payments initiative category 3 in recognition of outstanding achievement of the bank in promoting atm channel . citation needed international expansion edit andhra bank opened a representative office in dubai in may 2006 and another at jersey city new jersey usa in june 2009 . a foothold in new jersey is strategic for the bank as the state has a large number of indians from andhra pradesh . in 2010 malaysia awarded a commercial banking license to a locally incorporated bank to be jointly owned by bank of baroda indian overseas bank and andhra bank . the new bank india bia bank malaysia will have its headquarters in kuala lumpur which has a large population of indians . andhra bank will hold a 25 % stake in the joint venture . bank of baroda will own 40 % and iob the remaining 35 % . andhra bank entered mou with bank of baroda and legal & general group of uk to form a joint venture life insurance company indiafirst life insurance company . the shareholders agreement has already been signed and necessary formalities are being completed for setting up of the company . the jv company is already incorporated in june 08 and is in the process of filing for approvals from irda etc. indiafirst has commenced operations . awards edit andhra bank was ranked 532nd for the year ended 31 march 2007 amongst top 1000 banks in the world by the banker a london based publication based on tier i capital as defined by basel s bank for international settlements bis . 4 community involvement edit andhra bank along with a p state government nabard canara bank indian bank iob and sbh sponsored the andhra pradesh banker s institute of entrepreneurship development which will offer training to unemployed youth for improving their skills in andhra pradesh . andhra bank adopted gundugolanu village west godavari district andhra pradesh the birthplace of its founder dr. bhogaraju pattabhi sitaramayya . a comprehensive budget with an outlay of 55.5 million us 820 000 is finalised for improving health sanitation education and social service facilities in the village . see also edit list of banks list of banks in india references edit a b c fy 2015 16 press release pdf . andhra bank . idrbt banking technology excellence awards . archived copy pdf . archived from the original pdf on 10 april 2007 . retrieved 2015 07 14 . citi and andhra bank enter remittance services alliance . draft red herring prospectus of andhra bank filed with sebi andhra bank press release march 15 external links edit official website v t e banking in india reserve bank reserve bank of india public sector banks allahabad bank andhra bank bank of baroda bank of india bank of maharashtra bharatiya mahila bank canara bank central bank of india corporation bank dena bank idbi bank indian bank indian overseas bank oriental bank of commerce post bank of india punjab & sind bank punjab national bank state bank of bikaner & jaipur state bank of hyderabad state bank of india state bank of mysore state bank of patiala state bank of travancore syndicate bank uco bank union bank of india united bank of india vijaya bank private sector banks axis bank bandhan bank catholic syrian bank city union bank dcb bank dhanlaxmi bank federal bank hdfc bank icici bank idfc bank indusind bank jammu & kashmir bank karnataka bank karur vysya bank kotak mahindra bank lakshmi vilas bank nainital bank rbl bank ratnakar bank south indian bank tamilnad mercantile bank limited yes bank cooperative banks buldhana urban cosmos bank repco bank saraswat bank shamrao vithal co op . bank tnsc bank rajkot nagrik sahakari bank foreign banks abn amro abu dhabi commercial bank antwerp diamond bank australia and new zealand banking group bank internasional indonesia bank of america bank of bahrain and kuwait bank of ceylon the bank of tokyo mitsubishi ufj barclays citibank india credit suisse deutsche bank hsbc the royal bank of scotland scotiabank standard chartered regional rural banks andhra pragathi grameena bank kerala gramin bank bangiya gramin vikash bank gramin bank of aryavart north malabar gramin bank pallavan grama bank pandyan grama bank paschim banga gramin bank sarva up gramin bank south malabar gramin bank uttar bihar gramin bank vananchal gramin bank list of regional rural banks in uttar pradesh interbank networks bancs cashnet cirrus imps upi mitr nfs plus rupay defunct banks alliance bank of simla arbuthnot & co bank of bombay bank of calcutta bank of chettinad bank of cochin bank of hindostan bank of madras bank of madura bank of rajasthan bank of thanjavur bareilley corporation bank bengal central bank bharat overseas bank centurion bank of punjab chartered bank of india australia and china commercial bank of india dass bank exchange bank of india & africa global trust bank grindlays bank hindustan commercial bank imperial bank of india ing vysya bank lakshmi commercial bank lord krishna bank madhavpura mercantile cooperative bank mercantile bank of india london and china miraj state bank nath bank nedungadi bank new bank of india oriental bank corporation oudh commercial bank palai central bank pandyan bank sikkim bank state bank of indore state bank of saurashtra times bank united industrial bank united western bank related topics banks board bureau banking codes and standards board of india atm usage fees in india de materialisation demat foreign exchange forex indian financial system code ifsc list of banks in india national electronic fund transfer neft national payments corporation of india real time gross settlement rtgs structured financial messaging system sfms prepaid payment instruments in india v t e major indian