Andhra Bank

Andhra Bank was a medium-sized public sector bank (PSB) of India, with a network of 2885 branches, 4 extension counters, 38 satellite offices and 3798 automated teller machines (ATMs) as of 31 March 2019. During 2011–12, the bank entered the states of Tripura and Himachal Pradesh. It operated in 25 states and three union territories. It had its headquarters in Hyderabad, Telangana, India. Along with Corporation Bank, Andhra Bank was merged with Union Bank of India in April 2020. The government of India owned 90.85% of its share capital as on 31 March 2019. The state owned Life Insurance Corporation held 7.80% of the shares. The bank had done a total business of and has earned a net profit of for the financial year 2015–16. History Bhogaraju Pattabhi Sitaramayya founded Andhra Bank in 1923 in Machilipatnam, Madras Presidency (present-day Andhra Pradesh). Raja Yarlagadda Sivarama Prasad was the individual who committed the financial resources for starting the institution. The bank was registered on 20 November 1923 and commenced business on 28 November 1923 with a paid up capital of and an authorised capital of . 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 Government-owned. In 1964, the bank merged with Bharat Lakshmi Bank and further consolidated its position in Andhra Pradesh.