Inactive Instrument

Andhra Bank

532418

INE434A01013

Andhra Bank Reportedly Plans To Sell Stake In IndiaFirst Life Insurance

February 21, 2019 at 12:00 am EST

Andhra Bank (BSE:532418) plans to sell its 30% stake in IndiaFirst Life Insurance Company Limited in full or in part to raise INR 9 billion, a person close to the matter said. Investors, including Warburg Pincus, are lining up to buy the 30% stake in IndiaFirst Life Insurance," said the person. Warburg Pincus said it would not like to comment.

Latest news about Andhra Bank

Bank of Baroda completed the acquisition of an additional 21% stake in IndiaFirst Life Insurance Company Limited from Andhra Bank for INR 7.66 billion.	22-03-31	CI
Bank of Baroda agreed to acquire additional 21% stake in IndiaFirst Life Insurance Company Limited from Andhra Bank.	22-02-10	CI
Union Bank Reportedly Sells Insurance Unit Stake	20-04-06	CI
Post Merger, Union Bank May Sell Andhra Bank's Stake in Life Insurance	20-03-29	CI
No Change in Mega Bank Merger Plans Despite National Lockdown	20-03-25	CI
Andhra Bank(BSE:532418) dropped from S&P Global BMI Index	20-03-20	CI
Government Reportedly May Notify Merger of 10 PSBs to 4 Lenders This Week	20-02-09	CI
Andhra Bank Reports Unaudited Standalone and Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2019	20-02-05	CI
Andhra Bank announced that it expects to receive INR 2 billion in funding from India	19-12-25	CI
Reserve Bank of India Imposes Monetary Penalty of INR 2.5 Million on Andhra Bank	19-12-06	CI
Andhra Bank Reports Unaudited Consolidated and Standalone Earnings Results for the Second Quarter and Half Year Ended September 30, 2019	19-11-07	CI
Andhra Bank Informs That the Strike Has Been Deferred	19-09-25	CI
Warburg Pincus Reportedly Plans To Buy Stake In IndiaFirst Life Insurance	19-09-16	CI
Andhra Bank Reports Unaudited Standalone and Consolidated Earnings Results for the Quarter Ended June 30, 2019	19-08-02	CI
Andhra Bank Announces Audited Consolidated Earnings Results for the Year Ended March 31, 2019	19-07-06	CI
PNB Reportedly Seeks To Take Control Of 2-3 Small State-Run Banks	19-05-21	CI
Andhra Bank Reports Audited Standalone and Consolidated Earnings Results for Fourth Quarter and Audited Consolidated Earnings Results for the Year Ended March 31, 2019	19-05-13	CI
Andhra Bank Announces Appointment of P. J. Thomas as RBI Nominee Director	19-04-26	CI
Allahabad Bank, Andhra Bank In Talks To Sell Stakes In ASREC India	19-04-18	CI
Andhra Bank announced that it has received INR 32.559999974 billion in funding from India	19-03-27	CI
Andhra Bank Reportedly Plans To Sell Stake In IndiaFirst Life Insurance	19-02-21	CI
Andhra Bank announced that it expects to receive INR 32.559999974 billion in funding from India	19-02-19	CI
Andhra Bank Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 31, 2018	19-02-11	CI
Andhra Bank Announces Impact of Nation-Wide Strike on Bank's Operations	19-01-07	CI
Andhra Bank Seeks To Sell NPA’s	18-11-25	CI

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Company Profile

Andhra Bank (the Bank) is an India-based bank. The 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. The Bank's deposits include current deposits, savings deposits and term deposits. The Bank offers various types of loans, which include housing loans, vehicle loans, educational loans, personal loans, mortgage loans, non-agricultural gold loans, loans against rent receivables, gold loans and others. The Bank's online services include immediate payment service (IMPS), AADHAR Seeding, online locker booking, Internet banking, mobile banking, tax payments and tele banking. It offers short term agricultural credit and term agricultural credit. It also offers deposits, loans and investments for non-resident Indians (NRIs).

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