Freedom fighter B. Pattabhi Seetharamaiah formed Andhra Bank in 1923 with an investment of 1 lakh rupees in Machilipatnam. Andhra Bank Head office shifted to Hyderabad from Machilipatnam in 1963 and Registered office too shifted to Hyderabad. People have agitated then and not allowed to shift AB main branch from Machilipatnam. Chairman of the AB was convinced the people saying that it will be useful for the growth of the bank if Head Office is in state capital.
After the division of the state, people want to back the Andhra Bank Head Office to Machilipatnam. They argued that State Bank of Hyderabad was shifted to Hyderabad from Madras when Andhra Pradesh got separated from Tamilnadu. Like that, Andhra Bank Head Office also back to Machilipatnam from Hyderabad. Currently, Andhra Bank is doing 21,52,000 crores of the business having 2,114 branches across the country.
Currently, Andhra Bank has 720 branches in SA and 440 branches in Telangana region. It doesn’t matter of the state capital of the state, people demand Andhra Bank Head Office in Machilipatnam. Earlier, Government deposits were in SBI. During the President Rule, Governor ordered all Government deposits should be in Andhra Bank. This helps to the growth of the bank.
