In an interview to CNBC-TV18, Rajeev Chandrasekhar, MP of Rajya Sabha, and Hari Prasad, the Whistleblower who wrote letter to the PMO of a possible scam at PNB in 2016 discussed the key developments of the scam.
Shubhalakshmi Panse of Allahabad Bank says the bank does not have any term loan exposure to Jharkhand and Bihar. And while the bank has a very small exposure of Rs 28.08 crore to Andhra Pradesh, it is a performing asset and a very recent loan of a small quantum.
Shubhalakshmi Panse believes the way the public sector has been growing, it is confident of clocking 18 percent growth rate for its credit portfolio going ahead.
Sugar cane prices have increased 17 percent on average for the last three years, while sugar prices have been lower by nearly 10 percent year-on-year (YoY).
Allahabad Bank managed NPA recovery of Rs 837 crore and reduced fresh addition to Rs 1,694 crore from Rs 2,586 crore. The bank's total restructured book of the bank is Rs 13,595 crore, which was earlier Rs 14,874 crore as of March 31, 2013
State-owned Allahabad Bank on Tuesday (May 7 2013) announced its fourth quarter earnings. It posted a 68.5 percent decline in net profit at Rs 126.15 crore on account of rise in bad loans. However company‘s non-performing assets (NPAs) have increased by about Rs 1,600 crore.
Shubhalakshmi Panse, CMD, Allahabad Bank, says that the bank aims to bring down its gross NPA to 2 percent by 31st March, 2013.
JP Dua, chairman and managing director of Allahabad Bank says, he expects 20% growth in advances ahead. "We have been achieving 20-22%," he adds.
In an interview to CNBC-TV18, JP Dua, chairman of Allahabad Bank says, he expects margins of more than 3.5% and a credit growth of around 18% for the full year.
JP Dua, chairman and managing director, Allahabad Bank in an interview to CNBC-TV18 said, rise in NIM has been possible because of the bank's ability to contain cost.
In an interview to CNBC-TV18, sharing his outlook for 2012, JP Dua, Chairman of Allahabad Bank said the bank is hopeful to maintain NIMs at above 3%.
"I stand by the guidance of 3% plus NIMs (net interest margins) that we had given at the start of this year," says JP Dua, chairman and managing director of Allahabad Bank. In an interview to CNBC-TV18, post the Q2 results, Dua says the bank major growth verticals have been the core business and the fee based income.
Public sector lender Allahabad Bank has reported fourth quarter FY11 net profit of Rs 258 crore, 15.2% growth as compared to Rs 224 crore in same quarter the previous year. The bank's net interest income (NII) jumped nearly 55% to Rs 1,150 crore from Rs 743 crore on year-on-year basis.