Allahabad Bank PBT up 15.7% at Rs 2108 cr in Q2, asset quality declines

Gross NPA ratio rises to 19.05% from 17.53% a year ago, net NPA falls to 5.98% from 7.96%

Allahabad Bank posted profit before tax (PBT) of Rs 2,108 crore for the second quarter of this financial year, against a PBT of Rs 1,822 crore in the same period last year.

The provisions and contingencies of Allahabad Bank rose by 16.32 per cent to Rs 2,741 crore, against Rs 2,356 crore in the same period last year. The bank's provisions stood at Rs 1,008.81 crore in the first quarter of this financial year.

During the second quarter of this fiscal, the bank's operating profit (before Provisions & Contingencies) increased to about Rs 647 crore from Rs 543 crore in the year-ago