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Updated: May 5, 2012 22:01 IST

Allahabad Bank Q4 net at Rs.400 cr

PTI
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J. P. Dua
J. P. Dua

Allahabad Bank, on Saturday, posted a 55.36 per cent rise in net profit at Rs. 400.22 crore for the fourth quarter ended March 31, 2012, against Rs.257.60 crore in the year-ago period.

During the quarter, operating profit of the bank rose by 15.52 per cent to Rs.901 crore from Rs.780 crore.

Net interest margin (NIM) stood at 3.23 per cent, Chairman and Managing Director J. P. Dua told reporters here.

“Our guidance on NIM for the first quarter of current fiscal is more than three per cent,” he said.

During the year ended March 31, 2012, the bank's total business stood at Rs.2.71-lakh-crore.

“This fiscal, our target is Rs.3.20-lakh-crore, out of which Rs.1.88-lakh-crore will be deposits and Rs.1.32-lakh-crore will be advances”, he said. Mr. Dua said the bank's capital adequacy ratio was comfortable.

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