Allahabad Bank Q2 net up 14% at Rs 239crBS Reporter / Mumbai October 17, 2007Allahabad Bank has recorded a net profit of Rs 239.78 crore for the quarter ended September 2007, a 14.16% rise from Rs 210.03 crore posted in the corresponding quarter last year. Its operating profit stood at Rs 588.42 crore, up 30.57 % from Rs 450.66 crore in the corresponding period last year.The bank posted a business growth of 6.9% for the quarter to Rs 1,08,458 crore against Rs 90, 477 crore in the corresponding period last year. While in the same period total deposits went up to Rs 65,896 crore in the same period from Rs 54,006 crore in the period last year, registering a growth of 22.02 % (during April- September, 10.67 %).Speaking at a conference AC Mahajan, chairman and managing director of Allahabad Bank, attributed the buoyant performance to declining cost and the better efficiency.
