Kolkata: Allahabad Bank today reported a marginal 4.6 per cent increase in net profit to Rs. 325.36 crore for the October-December 2013 quarter.
The city-based state-owned bank had posted a net profit of Rs.310.83 crore in the third quarter of 2012-13. Commenting on the results, banks Chairman and Managing Director Subhalakshmi Panse said that the quarter had been challenging for the bank with business registering a growth of 11 per cent.
She said the third quarter witnessed muted growth in relation to corporate advances. "That is why we have cautiously kept the deposit growth muted so that the C/D (credit/deposit) ratio does not decline," she told reporters here.
Operating profit of the bank during the quarter increased 17.41 per cent at Rs. 1010 crore.
She said that adequate provisioning had been made for doubtful and bad loans as well as possible wage revision of the staff. Provisioning had increased 24.6 per cent at Rs. 684 crore during the quarter.
Net interest margin (NIM) of the bank stood at 2.75 per cent at the end of the third quarter. Panse said the guidance of NIM for the fourth quarter was three per cent.
Both Gross NPA and Net NPA had shown a rise at 5.4 per cent and 4.19 per cent respectively.
The city-based state-owned bank had posted a net profit of Rs.310.83 crore in the third quarter of 2012-13. Commenting on the results, banks Chairman and Managing Director Subhalakshmi Panse said that the quarter had been challenging for the bank with business registering a growth of 11 per cent.
She said the third quarter witnessed muted growth in relation to corporate advances. "That is why we have cautiously kept the deposit growth muted so that the C/D (credit/deposit) ratio does not decline," she told reporters here.
Operating profit of the bank during the quarter increased 17.41 per cent at Rs. 1010 crore.
She said that adequate provisioning had been made for doubtful and bad loans as well as possible wage revision of the staff. Provisioning had increased 24.6 per cent at Rs. 684 crore during the quarter.
Net interest margin (NIM) of the bank stood at 2.75 per cent at the end of the third quarter. Panse said the guidance of NIM for the fourth quarter was three per cent.
Both Gross NPA and Net NPA had shown a rise at 5.4 per cent and 4.19 per cent respectively.
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