Allahabad Bank net profit up 30.29 percent in Q1

Kolkata, July 29 (IANS) Allahabad Bank on Wednesday posted a 30.29 percent surge in its net profit at Rs.146.86 crores for the first quarter of this fiscal as against Rs.112.72 crore in the same period last fiscal.

The total business volume of the bank, in the review period, rose by 3.82 percent at Rs.334,548 crore against Rs. 322,231 crore during the year-ago period.

However, its total income during April-June 2015 declined to Rs.5,396.44 crore from Rs.5,518 crore registered during the same timeframe of the previous fiscal period.

During the three months under assessment, the bank’s deposits increased marginally to Rs.183,521 crore against Rs. 183,270 crore during the first quarter of the last fiscal.

Its gross credit, however improved by 8.6 percent at Rs.151,027 crore in comparison to Rs. 138,961 crore in the corresponding fiscal timeframe.

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