Allahabad Bank is a Public Sector Bank in India with 3,107 branches, 1,168 ATM's across the country.
Allahabad Bank's registered office is located at 2, N.S.Road, Kolkata-700001
For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 6,178 crs. and Standalone net profit of Rs. 621 crs. Allahabad Bank reported total deposits of Rs. 193,424 crs and total advances of Rs. 153,095 crs.
Allahabad Bank's management is led by its CEO Mr. Rakesh Sethi.
Highest fixed deposit interest offered by Allahabad Bank is 7.25% per annum on deposits.
Its current Base Rate is 9.70%, which was last revised on 05th Oct 15.
06th Jun 16 Allahabad Bank gains most from revaluation of real estate assets
As per the latest results, Allahabad Bank has turned out to be the biggest gainer with addition of around Rs 1802 crore from its revalued commercial and residential real estate investments. The bank owns several expansive properties in the central business districts of Kolkata. UCO Bank credited nearly Rs 1,737 crore as gains from revaluation of real estate investments. In the case of United Bank of India, the revaluation gain was vetted at Rs 347 crore at the end of FY16.
13th May 16 Allahabad Bank posts Q4FY16 net loss of Rs 581 cr
As per the results of Q4FY16, Allahabad Bank reported a net loss of Rs.581.13 Crore as the bank had to provide for higher provisions for bad loans and taxes. The loss was registered due to a tax write-back of Rs.1,032.77 crore in the March quarter, compared with a tax expense of Rs.175.05 crore in the year ago period. Asset Quality showed signs of deterioration during the March quarter as Gross NPAs were 9.76 percent as on quarter ending 31st March 2016 as compared with 6.4 percent in the previous quarter. Net NPAs were at 6.76 percent in the March quarter against 4.23 percent in the previous quarter and 3.99 percent in the same quarter last year. Provisions and contingencies also increased by 294 percent to Rs.2,487.15 crore when compared on yoy basis.The Net interest income (NII) declined by 12.5 percent to Rs.1,273.70 Crore when compared on a yoy basis. Non Interest Income also reduced by 2 percent to Rs.554.73 Crore.