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What is a Bank Code ?

A Bank Code is a one of a kind recognizable proof code for a specific bank. These codes are utilized while exchanging cash amongst banks and furthermore can be accustomed to trading different messages between them. The code can be partitioned into worldwide bank codes, for example, SWIFT codes and nearby or particular nation bank code. Cases of nearby bank code are BSB Number, Sort Code and Routing Number. Neighborhood bank codes are overseen by a national bank, a bank supervisory body or a Bankers Association in a nation. The bank code is then doled out to all its authorized part banks or budgetary organizations. The code rules fluctuate, as it were, between the nations. Since the presentation of International Bank Account Numbers (IBAN), the nations which utilize IBAN, have for the most part incorporated their neighborhood bank code into the prefix of indicating IBAN account numbers.

Importance of IFSC code

Unique Identification

It helps in identifying a particular bank branch.

Electronic Payments Made Easier

It used in electronic payment tools such as RTGS, IMPS, and NEFT. Format for Bank IFSC Code

Elimination Errors

It helps to eliminate any discrepancy in the fund transfer process.

What is the use of IFSC?

An IFSC code is used by the Indian financial system to facilitate online and electronic transfer of money. It is the IFSC code of a bank which enables it to help people with NEFT and RTGs.

IFSC Code Pattern

In an IFSC code, the first four characters are alphabets which denote the bank name. Hence, the IFSC code of each branch of the same bank will begin with the same four letters. The fifth character is a zero. The remaining six characters are digits or numbers which denote the branch code. This is the part which makes an IFSC code unique.

How to know the IFSC Code?

It is simple. If you have an account with any branch of any bank, you will automatically get to know its IFSC code as it is printed on the passbook. However, if you want to know the code without creating an account, you can do so via the internet. There is an official website of IFSC code where you can know all about this code.



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Analysis of Financial Ratios
NIM (Net Interest Margin): Net interest margin (NIM) is a measure of the difference between the interest income generated by banks or other financial institutions and the amount of interest paid out to their lenders (for example, deposits), relative to the amount of their (interest-earning) assets. Thus, it also has high correlation to interest spread and thus impacts profitability of the bank. NIM of Andhra Bank is 2.77 which is greater than the average of all public sector banks but less than average NIM of all banks in India. This indicates that the bank is doing well as compared to an average PSB in India but lagging among all banks in India.

COF (Cost of Funds): Cost of funds for a bank is the average interest rate paid to depositors on financial products such as savings account, current account, and fixed deposits etc. Lower CoF is better for banks as it will increase profitability. COF of Andhra Bank is 7.13 which is poorer than the average among PSBs as well as poorer than average CoF of all banks.

Return on Advances: Return on advances indicates the average interest rate at which the bank lends money to the borrowers. Higher return of advances is better for higher profitability of the bank (however, higher interest rates also indicate risky assests). So this ratio should be read along with NPA Ratio for better understanding about the bank.

Return on Equity (ROE): Return on equity is the measure of bank's profitability. Higher the better. [RoE = Net Profit / Total Equity].

CRAR: Capital to Risk-Weighted Assets Ratio (also known as Capital Adequacy Ratio is the ratio of bank's capital to its risk. This ratio is also monitored by RBI for all banks and higher value indicates higher stability for a bank. CRAR of Andhra Bank is 11.76 which is less than group average among PSBs and also less than average of all banks.

NPA Ratio: Non Performing Assets refer to loans that are in jeopardy of default. Once the borrower has failed to make interest or principal payments for 90 days the loan is considered to be a non-performing asset. Thus, NPA Ratio = [Non Perforing Assets/Total Assets]. Higher NPA Ratio indicates riskiness of the bank and losses as it may result in write downs. If you are investing in a bank, be aware to check this ratio carefully. NPA Ratio of Andhra Bank is 2.45 which is high and it is poorer than average NPA of PSBs as well as average NPA of all banks.