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Nov 10, 2017 05:13 PM IST | Source: PTI

Allahabad Bank Q2 net rises 8 pc to Rs 70 cr

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

 
 
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State-owned Allahabad Bank posted a 7.9 percent rise in net profit at Rs 70.20 crore for the September quarter despite rising 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 percent of gross advances, up from 12.28 percent a year earlier.

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

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 percent in the quarter from 47.60 percent in the same quarter a year ago, it said.
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