Andhra Bank’s net profit increased 1.5 per cent at Rs 345 crore in the fourth quarter ended March 31, 2013 compared with Rs 340 crore in the same period last year.
Total income grew 15 per cent at Rs 3,713 crore (Rs 3,229 crore). Deposits and advances grew at 17 per cent and 18.4 per cent respectively while net interest margin was in the range of 3.04 per cent.
Profit came under pressure due to provisions for new non-performing assets, wage settlements and pension, its Chairman and Managing Director, B.A. Prabhakar told news-persons here on Thursday.
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