Retail banking buoys Allahabad Bank, Q4 net up 29%

State-owned Allahabad Bank's net profit for the quarter ended March 2015 rose 28.5 per cent to Rs 202.63 crore, from Rs 157.75 crore a year ago, on higher income from retail banking and other sources.
"Total income has increased to Rs 5,390.71 crore for the quarter ended March 31, 2015, from Rs 5,237.68 crore for the quarter ended March 31, 2014," the bank said in a filing to BSE.
During the said quarter, the bank earned income of Rs 1,460.29 crore from retail banking operations, up from Rs 1,338.56 crore a year ago.
Income from other sources rose to Rs 565.86 crore in the period under review, from Rs 426.16 crore a year earlier.

The asset quality of the bank improved during the quarter as gross non-performing assets (NPAs) as percentage of gross advances came down to 5.46 per cent from 5.73 per cent a year ago.
Net NPAs or bad loans at 3.99 per cent of net advances also shrank in the March quarter as against 4.15 per cent last fiscal.
For the full fiscal 2014-15, the bank's net profit stood at Rs 620.9 crore compared with Rs 1,172.02 crore in the previous fiscal.
Total income increased to Rs 21,712.13 crore for the year to March-end, from Rs 20,912.43 crore for the year ended March 31, 2014.