Public sector lender Allahabad Bank on Saturday
reported a 55% year-on-year jump in its fourth quarter (Jan-March) net profit
at around Rs 400 crore aided by higher interest income and lower provisions.
Net interest income or the difference between interest earned and paid out,
rose nearly 12% y-o-y to Rs 1.288 crore.
Provisions and contingencies fell marginally by more than 2%
y-o-y to Rs 454 crore. However, the gross non-performing (NPA) ratio increased
to 1.83% compared with 1.74% in Q4, FY11. Net NPA ratio too deteriorated from
0.79% to 0.98%.
In FY12, net profit climbed more than 31% to Rs 1,867 crore.
During the fiscal, the bank's loan book expanded nearly 19% y-o-y to Rs 1.11
lakh crore, surpassing the Reserve Bank of India's credit growth
projection of
16% in FY12. Deposits grew 21% y-o-y to Rs 1.60 lakh crore.
The bank's capital adequacy ratio stood at 12.83% as
against 12.96% a year back.
"During the year, the bank has allotted 2.38 lakh crore
equity shares of Rs 10 each at a premium of Rs 182.94 per share to Life
Insurance Corporation of India on preferential basis," the bank said
in a release.
"The total amount of capital received by the bank on
this account is Rs 459 crore and consequently the government of India holding
has decreased from 58% to 55.24%."
The lender proposed to pay a dividend of Rs 6 per share.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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