Andhra Bank cuts base rate by 25 bps to 9.75 pc%

New Delhi: Andhra Bank today lowered its base rate by 25 basis points (bps) to 9.75 percent with effect from today.

The move came after the RBI cut repo rates by 50 bps, surprising economists and market watchers alike.

Andhra Bank is the first bank to cut its base rate. The RBI today lowered the benchmark repo rate by 50 basis points to 6.75 percent, while keeping the CRR unchanged at 4 percent.

The 52-week high of the share was Rs 101.00 and the 52-week low was Rs 59.35. The company’s trailing 12-month (TTM) EPS was at Rs 12.17 per share as per the quarter ended June 2015. At current value, the book value of the company is 0.41. (ANI)