Allahabad Bank Clocks 12% Deposit Growth
Total deposits at Allahabad Bank has increased to Rs 4,665 crore in 2002-03 against Rs 3,747 crore in the previous year, a growth of 12 per cent.
The Kolkata-based bank has also estimated a total business volume of Rs 39,146 crore for 2002-03 against Rs 38,228 crore in the previous corresponding period, translating into a growth of 13.5 per cent.
The chairman and managing director Allahabad Bank, B Samal, who held his last day at office on Monday, said net growth in deposits for the period was Rs 2,880 crore.
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This was expected to translate into a Rs 150 crore net profit for the period, and analysts said that the bank was comfortably placed to announce a nine per cent dividend.
The bank