Allahabad Bank Q1 net profit stands at Rs 128 cr
Mumbai, Jul 31 (UNI) Public Sector lender Allahabad Bank has reported net profit of Rs 128 crore for the quarter ended for the quarter ended June 30 as against net loss of Rs 1,944.37 cr for the quarter ended June 30, 2018 .
However total income for the quarter ended June 30, 2019 was marginally down by 0.97 percent to Rs 4747.49 crores as compared to Rs.4794.04 crores during the period ended June 30, 2018.
The bank's gross non-performing assets (NPAs) stood at Rs 28,703.47 crore as on 30 June 2019 as against Rs 28,704.78 crore as on 31 March 2019 and Rs 25,067.55 crore as on 30 June 2018.
The ratio of gross NPAs to gross advances stood at 17.43 pc as on 30 June 2019 as against 17.55 pc as on 31 March 2019 and 15.97 pc as on 30 June 2018.
The ratio of net NPAs to net advances stood at 5.71 pc as on 30 June 2019 as against 5.22 pc as on 31 March 2019 and 7.32 pc as on 30 June 2018.
The provisions and contingencies declined 63.48 pc to Rs 1008.80 crore in Q1 June 2019 from Rs 2762.82 crore in Q1 June 2018. Provision coverage ratio of the bank was at 78.58 pc as on Q1 June 2019.
The bank's capital adequacy ratio (Basel III) rose to 12.55 pc in Q1 June 2019 from 6.88 pc in Q1 June 2018.
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