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Kolkata, Jan. 18

Allahabad Bank may consider a strategic alliance with another bank, preferably a public-sector player that has close links with the southern region, Mr O.N. Singh, CMD, Allahabad Bank, indicated. Also, he did not rule out a takeover.

"We have a stronger balance sheet today. Our expansion plans are becoming bigger and bolder... a takeover may create value for our shareholders", he mentioned.

The bank's business has recently crossed the Rs 58,000-crore mark. On a year-on-year basis, business has increased by 37 per cent against the growth of nine per cent recorded in the corresponding period last year.

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