Andhra Bank - Q2FY13 Result First-Cut - Microsec

Andhra Bank Ltd has announced its Q2FY13 result on 6th Nov 2012.

The bank's total income decreased by 5.19% QoQ and 1.40% YoY to INR1113.23 crores. It is mainly because of 6.04% YoY de-growth in its Net Interest Income (NII). However, Other Income grew by 23.43% YoY to INR219.46 crores. Whereas, Profit After Tax (PAT) decreased by 10% QoQ and increased by 3.01% YoY to INR325.65 crores.

During the quarter, Bank's loans book and total deposits expanded by 15.91% and 15.26% YoY to INR85298.88 and INR108846.98 crores respectively. On the assets quality front, bank asset quality is still the matter of concern. GNPA and NNPA increased by 76 and 64bps QoQ and 81 and 68bps YoY to 3.48% and 2.16% respectively. Moreover, Provision Coverage Ratio (PCR) unsatisfactorily stood at the level of 53.15%. However, Capital Adequacy Raito (CAR) is 339bps or 3.39% higher than the regulator stipulated norm.

Source : Equity Bulls

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