Allahabad Bank's net profit rises 14 per cent

Kolkata, Oct 17 (UNI) Allahabad Bank's net profit rose 14 per cent to Rs 239.79 crore in the July-September quarter compared with Rs 210.03 crore in the same quarter previous year.

The total income increased by 33 per cent to Rs 1664.29 crore in the September quarter against Rs 1,242.93 crore during the corresponding period a year ago, Chairman and Managing Director A C Mahajan announced today.

During the half-yearly period this fiscal, the bank's business stood at Rs 1,08,458 crores and total deposit reached Rs 65,896 crores, he said.

Mr Mahajan informed that the bank had added 114 branches during the present year although the total man power remained at 20,036.

He said from this year the bank was operating as a totally income-tax paying organisation and all its profits were counted after tax.

The operating profit of the bank increased to Rs 588.42 crore during April-September this year from Rs 450.66 crores recorded during the corresponding period of 2006.

UNI