Allahabad Bank Q2 net rises 8 per cent to Rs 70 crore

PTI
Published Nov 10, 2017, 5:21 pm IST
Updated Nov 10, 2017, 5:21 pm IST
Total income remained flat at Rs 5,067.78 crore during the quarter as against Rs 5,051.61 crore.
During the quarter, gross NPAs rose to 14.10 per cent of gross advances, up from 12.28 per cent a year earlier.
 During the quarter, gross NPAs rose to 14.10 per cent of gross advances, up from 12.28 per cent a year earlier.

New Delhi: State-owned Allahabad Bank on Friday posted a 7.9 per cent rise in net profit at Rs 70.20 crore for the September quarter despite rise in non-performing assets (NPAs).

The Kolkata-headquartered bank had registered a net profit of Rs 65.03 crore in the July-September quarter of the previous financial year.

Total income remained flat at Rs 5,067.78 crore during the quarter as against Rs 5,051.61 crore in the same period a year ago, the bank said in a statement.

During the quarter, gross NPAs rose to 14.10 per cent of gross advances, up from 12.28 per cent a year earlier.

Similarly, net NPAs rose to 8.84 per cent of net loans, from 8.59 per cent.

As a result, provisions for bad loans doubled to Rs 1,469.52 crore from Rs 692.08 crore a year ago.

Capital adequacy ratio of the bank improved to 54.33 per cent in the quarter from 47.60 per cent in the same quarter a year ago, it said.

Location: India, Delhi, New Delhi




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