The Hindu Business Line : Allahabad Bank to embark on expansion drive

Kolkata, Sept. 21 Allahabad Bank, according to its Chairman and Managing Director, Mr K.R. Kamath, proposes to focus on the expansion of client base and enlargement of resources base.

Addressing the business development meeting, attended by all sections of staff members of the bank here recently, Mr Kamath spoke about the importance of teamwork in the development of the bank and exhorted them to take active part in the bank’s various programmes including the drive to recovery.

Giving a view of the financial performance of the Kolkata Metropolitan area of the bank, Mr Ashok Dutt, General Manager and zonal head of Kolkata Metro Zone, said the zone’s profit went up by 20.02 per cent for the quarter ended June 30, 2008, compared with the corresponding quarter of last year.

Deposits for the zone grew at Rs 7,010.60 crore as on June 30, 2008, up from Rs 6,900.51 crore as on March 31, 2008. Low-cost current account and savings account deposits grew by about 41 per cent during the quarter and gross credit by 6.21 per cent, he said.

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