Andhra Bank was incorporated.

On November 28th 1923, AndhraBank was founded by freedom fighter Bhogaraju Pattabhi Sitaramayya and commenced business in Machilipatnam, Andhra Pradesh.

On November 20th 1923, Andhra Bank was registered (incorporated) with a paid-up capital of ₹1 lakh (₹100,000) and authorized capital of ₹10 lakh.