Andhra Pragathi Grameena Bank came into existence from 01.06.2006 by amalgamating Rayalaseema Grameena Bank, Sri Anantha Grameena Bank and Pinakini Grameena Bank consequent upon the Government of India Notification dt.01.06.2006. The Bank is constituted under Regional Rural Banks Act 1976. The Bank is having its Head Office at KADAPA with a jurisdiction of 5 districts namely Anantapur, Y. S. R (Kadapa), Kurnool, Nellore and Prakasam. The Bank is having 7 Regional offices with its Head quarters at 5 district Head Quarters, Kadiri of Anantapur district and in Nandyal of Kurnool district. The Bank is providing banking services with its 500 branches as on 31.03.2016. The Bank is catering to the needs of Rural Poor mainly and to all other sectors also. The Bank has been playing a pivotal role in economic development of its operational area by outreaching the people in the countryside. The Bank earned Net profit of Rs.166 Crore as on 31.03.2016 and stood first among all RRBs sponsored by Syndicate Bank and all RRBs in the Andhra Pradesh State in respect of networth Rs. 1637 Crore ason 31.03.2016.
The entire area of operation of the Bank, which is mostly in Rayalaseema region, is characterized by drought and backwardness. About 75% of the population in the area lives in countryside. The soils are mostly black and red, about 75% of the area is rain fed and farmers depend on rain fed crops and Irrigation sources viz., canals, tanks, bore wells etc., the major crops grown are paddy, cotton (hybrid), chilies, vegetables, horticulture crops like banana, papaya, sweet orange, mango etc., and under rain fed conditions the major crops grown are ground nut, jowar, Bengal gram, sun-flower, coriander, tobacco, etc. The area is rich in minerals viz., barites, limestone, granite, black and colour slabs, slates etc
The important rivers flowing through the Bank's area of operation are Krishna, Tungabhadra, Hundri, Pennar, Kundu, Papagni, Chitravathi, Sagileru, Pincha, Cheyyeru, Swarnamukhi, Paleru, Pillaperu and Gundlakamma . The Government of Andhra Pradesh awarded 'BESTBANK’ award to the bank on 17.01.2007 and on 15.01.2010.
The paid up capital of the Bank is Rs.300 lakh, contributed by the Govt. Of India, Sponsor Bank (Syndicate Bank) and the Government of Andhra Pradesh in the ratio of 50:35:15 respectively. As a part of restructuring process of RRBs, an additional share capital (in the form of share capital deposit) of Rs.3934.26 lakh was infused by the shareholders in the ratio mentioned above