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Allahabad Bank fixes target of more than Rs 45,000 crore
Mangalore, Aug 24: The Kolkata based Allahabad Bank has fixed a target to achieve a total business of more than Rs 45,000 crore during the current financial year, K K Rai, executive director of the bank said here today.
Mangalore, Aug 24: The Kolkata based Allahabad Bank has fixed a target to achieve a total business of more than Rs 45,000 crore during the current financial year, K K Rai, executive director of the bank said here today.
Speaking to reporters after inaugurating the 48th ''ATM-Sugam'' here, he said the bank's deposits stood at Rs 25714.37 crore as on June 30 this year, as against Rs 22914.93 crore during the corresponding period of last year, registering a growth of 12.22 per cent.
The bank's net profit posted during the first quarter ended June 30 this year was Rs 68 crore, as against Rs 28.49 crore during the corresponding period last year, a 138.57 per cent rise. During the last financial year, the bank recorded the highest ever reduction of 4.01 per cent in non-performing asset (NPAs), Rai said.
The net-NPA of the bank during the current financial year was reduced to 7.08 per cent from 11.09 per cent, he said adding, it further came down to 6.31 per cent during June this year.
The bank was contemplating to bring the NPA to less than five per cent, he added. The bank was also planning to increase the ATM centres to 100 from 48 by end of this year, he said.
The bank has signed an agreement with the Mangalore base corporation bank on sharing ATM cards, he said adding that the bank will be installing central switch in Kolkata in two or three months.
The bank has 17 centres in the state, he said adding during the middle of October this year, one more branch in Bangalore will been opened. Bureau Report
The bank's net profit posted during the first quarter ended June 30 this year was Rs 68 crore, as against Rs 28.49 crore during the corresponding period last year, a 138.57 per cent rise. During the last financial year, the bank recorded the highest ever reduction of 4.01 per cent in non-performing asset (NPAs), Rai said.
The net-NPA of the bank during the current financial year was reduced to 7.08 per cent from 11.09 per cent, he said adding, it further came down to 6.31 per cent during June this year.
The bank was contemplating to bring the NPA to less than five per cent, he added. The bank was also planning to increase the ATM centres to 100 from 48 by end of this year, he said.
The bank has signed an agreement with the Mangalore base corporation bank on sharing ATM cards, he said adding that the bank will be installing central switch in Kolkata in two or three months.
The bank has 17 centres in the state, he said adding during the middle of October this year, one more branch in Bangalore will been opened. Bureau Report