Andhra Bank revises BPLR, base rate

HYDERABAD: Andhra Bank has raised the Benchmark Prime Lending Rate (BMPLR) from the existing rate of 13.25% per annum to 13.75% per annum with effect from February 5 onwards. The base rate has been risen from 9.00% to 9.50% with effect from February 5.

The Bank is rendering services through 2139 Business Delivery Channels consisting of 1371 branches, 66 Extension Counters, 38 Satellite Offices and 664 ATMs spread over 21 States and 2 Union Territories as at the end of June, 2008. All Branches are 100% computerized, 1186 units viz., 1101 Branches, 68 Extension Counters, 15 Service Centres networked under Cluster Banking solution and providing 'Any Branch Banking(ABB)'.

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. Andhra Bank will hold a 25% stake in the joint-venture, Bank of Baroda will own 40% and IOB the remaining 35%.