Allahabad Bank Net Profit Rose by 22.94%
OREANDA-NEWS. August 8, 2012. Operating Profit increased to Rs. 956 crore for June,2012 as against Rs. 890 crore for June,2011.
Net Profit rose to Rs. 514 crore during the quarter ending June,2012 as against Rs. 418 crore for 30.06.11 showing a YoY growth of 22.94 %.
Net Interest Margin (NIM) sustained at 3.17 % during the quarter ending June, 2012.
Net Interest Income during the Quarter ending 30.06.12 increased to Rs. 1306 crore as against Rs. 1176 crore during the corresponding period last year recording a YoY growth of 11.09 %.
Fee-based income for the quarter ended June, 2012 increased to Rs. 239 crore as against Rs. 207 crore for the Quarter ended June, 2011.
Total Business of the Bank increased to Rs. 2,67,329 crore as on 30.06.12 as against Rs. 2,32,558 crore on 30.06.11 showing a YoY growth of 14.95 %.
Deposits of the Bank increased to Rs. 1,56,867 crore as on 30.06.12 from Rs. 1,33,818 crore as on 30.06.11. Year-on-Year basis, the Total Deposits grew by 17.22%.
Gross Credit increased to Rs. 1,10,462 crore as on 30.06.12 as against Rs. 98,740 crore as on 30.06.11. Year-on-Year basis, the Gross Credit increased by 11.87%.
Gross NPA to Gross Advances was 1.96% as on 30.06.12.
Net NPA to Net Advances Ratio was 1.09% as on 30.06.12.
Provision Coverage Ratio was 73.57% as on 30.06.12.
Capital Adequacy Ratio was 12.94% as on 30.06.12.
Shareholders' Value :
Earning per Share increased from Rs. 8.78 as on 30.06.11 to Rs. 10.28 as on 30.06.12.
Return on Asset stood at 1.14 % as on 30.06.12.
Book Value per Share increased to Rs. 203.66 as on 30.06.12.
Technology :
The Bank has launched Inter Bank Mobile Payment (IMPS) Service, a value added service to Mobile Banking on 24th April, 2012, its 148th Foundation Day.
RuPay branded domestic ATM Card, specifically targeting those customers who need cards for use in ATMs within
Prepaid Gift Card, a non-reloadable prepaid card, for providing gift to one’s near and dear ones on any occasion and which may be used for POS transactions as well as online transactions was also launched on 24.04.2012. The Prepaid Gift card can be loaded with any amount between Rs. 500/- and Rs. 50,000/-.
The Bank has issued more than 13.69 lac ATM-cum-Debit Cards. Bank’s total number of ATMs increased to 316.
New Initiatives :
The Bank has waived all charges on NEFT up to Rs. 1.00 lac as a part of its Green Initiative.
Bank has signed a Memorandum of Understanding (MOU) with the Stock Holding Corporation of India Ltd. (SHCIL) for becoming a Service Provider for e- Stamping Service from its designated branches spread across 8 states. It will help Bank to open new Current accounts and earn fee based income.
As a green initiative the Bank has launched a campaign ‘Speed – e – track’, e-world of Allahabad Bank, to promote the awareness and application of e-services among 27 million strong customer base of the Bank.
Bank has introduced Loan Scheme for Vocational Education & Training, wherein a needy student can avail bank loan from Rs. 20,000/- to Rs. 1.50 lac.
Additional features e.g. Opening of Deposit Accounts & Deposit to PPF account with the Bank have been added to Internet Banking platform of the Bank.
Bank has implemented collection module for Utility Bill Payments in which merchants under categories viz. Electricity, Telephone,Gas,Water can be enrolled.
Social Banking:
Priority Sector Credit grew from Rs. 31,404 crore as on 30.06.011 to Rs. 36,254 crore as on 30.06.2012 registering an absolute YoY growth of Rs. 4850 crore (15.44 %).
Agriculture Credit outstanding increased from Rs.13,565 crore as on 30.06.11 to Rs.16,218 crore as on30.06.12 registering an absolute YoY growth of Rs.2,653 crore (19.56 %).
Credit to Micro & Small Enterprises (MSE) grew from Rs.13,666 crore as on 30.06.11 to Rs.15,469 crore as on 30.06.12 registering an absolute YoY rise of Rs. 1803 crore (Growth: 13.19 %).
Credit to Micro, Small and Medium Enterprises (MSME) grew from Rs. 16,313 crore as on 30.06.11 to Rs. 18,166 crore as on 30.06.12 registering an absolute YoY growth of Rs. 1853 crore (11.36 %).
Retail Credit :
Total Disbursement under Retail Credit of the Bank during June,2012 Quarter surged to Rs. 984.38 crore as against Rs. 676.64 crore during the corresponding period last year registering a growth of 45.48 %.
Total Outstanding under Retail Credit as on 30.06.12 rose to Rs.15,321.32 crore as against Rs.13269.87 crore as on 30.06.11, registering 15.46% YoY growth.
Bank has financed 5101 vehicles amounting to Rs. 48.15 crore for commercial use under its Commercial Vehicle Finance Scheme during the June, 2012 Quarter.
Total disbursement under Bank’s Education Loan during the First Quarter of 2012 surged to Rs. 44.23 crore as against Rs. 26.38 crore as on 30.06.2011.
Total disbursement under Bank’s Housing Loan during June,12 Quarter increased to Rs.244.83 crore as against Rs.154.43 crore last year, registering a growth of 58.54 % YoY.
Bank ventured into financing against Gold Ornaments for its Customers. Under All Bank Gold Scheme, Rs. 46.86 crore was disbursed during the June, 2012 quarter as against Rs.14.36 crore in June, 2011. The outstanding under the Scheme soared to Rs. 108.48 Crore as on 30.06.2012 as against Rs.45.17 crore as on 30.06.2011.
Accolades :
The Bank has been honoured on the 29th of June, 2012 with three prizes by Reserve Bank of
Future Plans :
The Bank has planned to achieve Rs. 3,20,000 crore in Total Business within 31st March, 2013.
The Bank intends to open 250 Branches during 2012-13; 120 numbers of Authorisations for opening New Branches are in hand.
Bank has planned to open more Branches overseas, which include one each at Dhaka,
Bank is in process of introducing revised Kisan Credit Card Scheme with Smart Card enabled payment system through ATMs & PoS terminals.
Identification and allotment of villages with population less than 2000 is in progress for extending Banking Services under Financial Inclusion.
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