Total business of Allahabad Bank in the 2nd Quarter of this fiscal stands at Rs 3,59,450 crores says Managing Director
Kolkata, Nov 10 (IBNS): The total business of Allahabad Bank stands at Rs. 3,59,450 crores in the second quarter of this fiscal stated Smt Usha Ananthasubramanian, the Managing Director and CEO of Allahabad Bank on Friday in a press conference arranged at the bank-premises in the city.
She in this context elaborated on the performance of the bank in the second quarter of this fiscal.
According to her, the deposit of the bank stands at Rs 2,07,269 crores in the said period and the net profit of the bank too increased to Rs. 70.19 crores against Rs 28.84 crores in the first quarter of this fiscal.
The other highlights of the bank include the surging of the operating profit by 26.03 per cent in the said period to Rs 1223 crores as against Rs 970 crore in the second quarter of 2016-17. The net Non-performing Asset or NPA too reduced to 8.84 per cent from 8.96 per cent in June 2017. The Gross NPA on September 30, this year was 14.10 per cent.
The Current Account & Savings Account or CASA deposit too grew up by 21 per cent thus improving the share of CASA in total deposit to 45.07 per cent as against 38.50 per cent in the second quarter of 2016-17.
The bank added more than 2 million new customers during half year that ended on September 30, 2017.
Smt. Ananthasubramanian added that the credit to micro, small and medium enterprises at this period was really very positive with credit amount provided to this sector stands at Rs 30,777 crores. With this should be added the the total outstanding under retail credit as on September 30, this year which rose to Rs 11,034 crores against Rs 9,264 crores during the same period in 2016.
It is to be noted that the bank has launched a unique savings product for women named AllBank Shakti during the second quarter, which Smt Ananthasubramanian said has been done to encourage women entrepreneurs to come up with new enterprises with the loan-aid given by Allahabad Bank.
Present on the occasion were the two Executive Directors of the bank, Shri S Harisankar and Shri N K Sahoo respectively.
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