 "A closed branch of Allahabad Bank during bank employees' two-day nationwide strike for wage revision, in New Delhi on Wednesday, May 30, 2018.")
Weighed down by high provisioning, Allahabad Bank posted a net loss of Rs 19.44 billion in the first quarter of the financial year, against a net profit of about Rs 288 million in the same period of the last financial year. However, sequentially, the bank's losses came down as in the last quarter of FY18, the bank had posted a net loss of about Rs 35 billion.
The provisioning for non-performing assets (NPAs) stood at Rs 25.9 billion in Q1 FY19, against Rs 16.86 billion in the same period last financial year.
During Q1 FY19, the bank made a provision
