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Allahabad Bank’s net profit surged by 20.39 per cent to Rs 415.80 crore for the quarter ended December 2010, as against Rs 345.37 crore in the corresponding last year.
Briefing on the bank’s 21.27 per cent growth in Q3 operating profit, Allahabad Bank Chairman and Managing Director Mr J P Dua told reporters on Friday that it (operating profit) mounted to Rs 788.43 crore as at December-end, as against Rs 650.13 crore last year.
Mr Dua touched upon the consistent growth the bank had made in Q3 FY11, and said that net interest income stood at Rs 1,051.63 crore as against Rs 675.57 crore last year, registering growth of 55.67 per cent during the period.
He said net NPA to net advances ratio stood at 0.59 per cent for the quarter ended December, 2010. “The net interest margin (NIM) surges to 3.44 per cent at the end of December 2010 quarter as against 2.97 per cent last year,” he added.
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