Allahabad Bank net rises to Rs 303 crore in H1
By Our Banking Bureau | 12 Oct 2004
Kolkata: Allahabad Bank has posted a net profit of Rs303 crore for the half-year ended September 30, 2004, as compared to Rs143 crore in the corresponding year-ago period. Its aggregate business hit the Rs55,350-crore mark in end-September, 2004.
On a year-on-year basis, the business increased by 33 per cent against a growth of 12 per cent last year. The operating profit of the bank during the first half increased to Rs615 crore from Rs320 crore during April-September 2003, an increase of 91 per cent. Operating profit grew by 17 per cent against the growth of 4 per cent during the half-year ended September, 2003.
Net non-performing asset ratio declined to 1.65 per cent in end-September, 2004, down from 2.37 per cent as on end-March this year and 5.21 per cent in September last year.
