Allahabad Bank profit grows 95% for the 9 month ended December 2009
Kolkata, January 22, 2010:
Highlights of the performance for the Nine Months
Operating Profit surged to Rs. 1891 cr as at December’2009 as against Rs.1287 cr last year showing a YOY growth of 47 %.
Net Profit rose to Rs. 982 cr. during the Nine Months period ending 31.12.2009 as against Rs. 505 cr last year showing a YOY Growth of 95%
Net Interest Income during the Nine Months since April,2009 stood at Rs. 1908 cr as against Rs. 1566 crore last year recording a YOY Growth of 22%
Non-Interest Income during the Nine Months ending December,09 rose to Rs.1114 cr as against Rs. 684 cr. previous year showing a YOY growth of 63%
Total Business of the Bank stood at Rs.159843 cr. as on 31.12.2009 as against Rs.127847 cr. in previous year showing a YOY growth of 25.03 %.
Deposits of the Bank went up to Rs. 94164 cr. as on 31.12..2009 from Rs.75095 cr. as on 31.12.2008 . Year-on-Year basis, Total Deposits grew by 25.39%.(Rs. 84972 cr. as on 31.3.2009.)
Gross Credit was Rs.65679.83 cr. as on 31.12.2009 as against Rs.52752 cr. as on 31.12.2008. Year-on-Year basis, the Gross Credit increased by 24.51 %. (Rs.59443 cr. as on 31.3.2009)
Credit Deposit Ratio stood at 69.75 % as at December 2009 end.
Gross NPA to Gross Advances further declined to 1.77 % as at December-end 2009 from 1.93 % as at December 2008.
Net NPA to Net Advances Ratio declined to 0.35 % as at December 2009 from 0.82 % as at December-end 2008.( 0.72% as at March 2009).
Provision Coverage Ratio reached to 88.29%.
Net Interest Margin (NIM) stood at 2.93 % during the Nine Months ending December,09 as against 2.85% last year.
Return on Asset as at the end of Nine Months in December,09 stood at 1.29% as against 0.81% last year.
Earning per Share surged to Rs.21.98 during the Nine Months ended December,09 from Rs. 11.29 corresponding last year.
Book Value per Share increased to Rs.152.72 during the Nine Months from April,2009 from Rs.128.03 as on 31.12.08.
Capital Adequacy Ratio increased from 12.20 % as on 31.12.2008 to 15.00 % as on 31.12.2009.
Highlights of the performance for the quarter ended December’2009
Operating Profit as at December,09 quarter end stood at Rs. 650.13 cr. as against Rs. 666.06 cr. last year.
Net Profit of the Bank was Rs.345.37 cr. for the quarter ended December,09 as against Rs. 369.47 cr. in the corresponding last year.
Net Interest Income during Q-3-FY2009-10 stood at Rs. 675.57 cr. as against Rs. 604.13 cr. showing a YoY growth of 11.83%.
Non-Interest Income during the third quarter of 2009-10 was Rs. 339.53 crore as against Rs. 408.41 crore previous year.
Gross NPA to Gross Advances further declined to 1.77% as at the December-end,2009 from 1.93% as at December,2008 (1.81% as at March,2009)
Net NPA to Net Advances Ratio declined to 0.35% as at the quarter ended December,2009 as against 0.82% last year.
Net Interest Margin (NIM) stood at 2.97% at the end of the December,2009 quarter as against 3.24% last year.
Return on Assets as at the quarter ended December,2009 stood at 1.31%.
Earning Per Share was Rs. 7.73 as at the end of the third quarter FY-2009-10.
Book Value per Share increased to Rs. 152.72 as at December,09 from Rs. 128.03 last year.
>>> GO TO PAGE 2
>>> GO TO PAGE 3
(This is a press release from Allahabad Bank)