Allahabad Bank Results

The Department of Financial Services in a letter on Thursday conveyed the sanction for release of the fresh capital infusion fund of Rs 2,153 crore, Allahabad Bank said in a regulatory filing

The state-owned lender had registered a loss of Rs 1,816.19 crore during the year-ago period

The bank, however, logged a net interest income (NII) of Rs 1,275.7 crore, up 10.9 per cent YoY, from Rs 1,150.5 crore.

The lender on Tuesday reported a net loss of Rs 18.22 billion in the quarter to September

The bank had lent to nine of the 12 firms, and was an investor in one of the accounts

Net NPAs rose to 8.84 per cent of net loans, from 8.59 per cent

Kolkata based Allahabad Bank, which is aggressively targeting to recover non-performing assets (NPA) this year besides changing its focus over loan disbursal, posted a net profit of Rs. 111.15 crore in the fourth quarter of the last fiscal year as against the loss of Rs. 581.13 crore during the similar timeframe of the 2015-16 fiscal year.While its operating profit shot up by 22 per cent at Rs. 1065.66 crore in the quarter under review, the Net Interest Margin (NIM) also increased to 2.54 per cent in the fourth quarter from the former 2.21 per cent. For the current fiscal year, it expects to keep the NIM between 2.3-2.5 per cent.It total income however, increased by a little over one per cent at Rs. 5025.13 crore as against the earning of Rs. 5051.38 crore in the last quarter of the 2015-16 fiscal year.On an annual basis, the bank was able to bring down its net loss by 58 per cent to Rs. 313.52 crore.This year, the bank has decided to bring down its exposure to the corporate sector ...