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A subsidiary of the Uniopn Bank of India, ABFSL was incorporated in 1991 for hire purchase and leasing activities. It stopped its business in 1992 and is maintained as a non-banking, non-financial institution.
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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 of 31 March 2019. The state-owned Life Insurance Corporation held 7.80% of the shares.
Apr 20, 2020 · Learn how the merger of three public sector banks on April 1 affects your account numbers, IFSC codes, loans and ATM charges. The government aims to create four bigger and stronger banks from 12 public sector lenders.
Aug 30, 2019 · Finance Minister Nirmala Sitharaman announced a mega consolidation plan for public sector banks, including the merger of Andhra Bank and Corporation Bank with Union Bank of India. The combined entity will be the fifth-largest PSB with a business size of Rs 14.59 lakh crore and 9,609 branches.
ANDHRA BANK Branches, All Branch Addresses, Phone, IFSC code, MICR code, Find IFSC, MICR Codes, Address, All Bank Branches in India, for NEFT, RTGS, ECS Transactions
Mar 19, 2020 · Andhra Bank operates through four segments: Treasury Operations, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations. The Bank offers various products and services, which include deposits and accounts, loans, credit cards, debit cards, travel cards, online payment services, mutual funds and insurance.
Sep 13, 2019 · The proposed merger of Andhra Bank with Union Bank of India (UBI) on Friday received a crucial approval from the board of directors of the former.