Allahabad Bank Business Crosses Rs.150000 Crore
-
EPS increased to Rs. 6.78 from Rs. 2.09
Highlights of the performance for the quarter ended June’2009:
-
Deposit of the Bank went up to Rs.89401 crore as on 30.06.2009 from Rs.73207 crore as on 30.06.2008 and Rs.84972 crore as on 31.3.2009.
-
Year-on-Year basis, Total Deposits grew by 22.12 %.
-
Year-on-Year basis, the Gross Credit increased by 21.41 %.
-
Credit Deposit Ratio stood at 69 % as at June-end 2009.
-
Operating Profit increased from Rs.307 crore during April-June’08 to Rs. 591 crore during April-June’09, registering a growth of 92.56% during the period.
-
Net Profit of the Bank was Rs. 303 crore during April-June’09 as against Rs.93 crore in the corresponding period last year.
-
Gross NPA to Gross Advances further declined to 1.79 % as at June-end 2009 from 1.87% as at June-end2008 and 1.81% as at March-end 2009.
-
Net NPA to Net Advances ratio declined to 0.37 % as at June-end 2009 from 0.75% as at June-end 2008 and 0.72% as at March-end 2009.
-
Net Interest Margin (NIM) was 3.00 % for the quarter ended 30.06.2009 as against 2.60 % corresponding previous quarter.
-
Book Value per share was Rs.137.75 increased from Rs.118.88 as on 30.06.2008 and Rs.131.00 as on 31.3.2009.
-
Non-Fund Non-Interest Income during the first quarter of 2009-10 was Rs.146.51 crore, registering a YOY growth of 36.59% over previous year.
-
Operating Expenses to Average Working Funds stood at 1.65% during the quarter.
Shareholders’ Value:
-
Earning per Share increased from Rs. 2.09 as on 30.06.08 to Rs.6.78 as on 30.06.2009
-
Return on Asset increased from 0.45% as on June ’08 to 1.22% as on 30.06.09.
-
Book Value per Share increased to Rs. 137.75 as on June ’09 from Rs.118.88 as on 30.06.08.
-
Capital Adequacy increased from 11.68 % as on 30.06.2008 to 12.54% as on 30.06.2009.
Branch Expansion:
-
The Bank opened 18 more branches during June’09 quarter taking the total to 2278 branches (including one at Hong Kong). The Bank had 5 Authorizations in hand, of which one has since been opened on 13.07.2009.
-
Zonal Office at Berhampore inaugurated on 22.06.2009 by Hon’ble Union Finance Minister, Shri Pranab Mukherjee.
-
Bhagalpur Zonal Office made operational from 02.07.2009.
Social Banking:
-
With a view to provide credit counseling services, the Bank has started its first “Financial Literacy and Credit Counselling Centre” (FLCC) at Kolkata on 26.06.2009 under the aegis of Allahabad Bank Rural Development Trust, which was inaugurated by Smt Usha Thorat, Deputy Governor, Reserve Bank of India.
Fee Based Banking:
Technology Initiatives:
-
Bank has computerized all its 2278 Branches (inclusive of Hong Kong Branch) and 69 Extension Counters and 41 Currency Chests and Field/ Zonal Offices covering 100% of Bank’s business.
-
Bank has geared up CBS implementation and 907 Branches including 3 Regional Processing Centres, 19 Service Branches, 6 Recovery Branches alongwith its 60 associated Extension Counters, Head Office and CBS Project Office, Mumbai, 38 Zonal Offices and Field Inspection Office - Nagpur are now under the fold of CBS covering 81.23% of the Bank’s business.
-
Internet Banking, SMS Banking, e-Payment of Taxes are now at the disposal of the customers through CBS Branches at any place of the country convenient to customers.
-
The Bank has tied-up with M/S UAE Exchange & Financial Services Ltd for Inward Money Transfer System through Xpress Money and MoneyGram Channels.
-
SMS Alert facility is being provided to all desiring customers of the Bank. Any Debit/ Credit transaction above Rs.5000 are being informed through SMS.
-
Instant ATM-cum Debit Card facility has been launched for the customers of CBS Branches in which 35000 cards have been issued.
Retail Credit:
-
Total disbursement under Retail Credit upto June’09 stood at Rs.468.07 crore as against Rs. 335.93 crore during corresponding period last year registering a growth 39.33%.
-
The period of special package to all new Housing Loans upto Rs. 20 lac has been extended to 31.12.2009. Under this package, Rate of Interest, Margin stands reduced and Processing Fee and Pre-payment Penalty have been waived apart from providing free insurance cover.
-
Loan for purchase of Car is now available to Retired Persons drawing pension from the Branches of the Bank.
-
Centralised Retail Banking Boutique started functioning at Tollygunge, Kolkata for processing of Retail Loans in a hassle-free manner.
Human Resource Development:
-
To bring about a complete change in the attitude of employees towards Customer Service, one/ two day programmes on “Changing the Mindsets” for all the employees is being implemented.
-
During the first quarter of the current year, the Bank has imparted training through various channels to 2330 personnels.
-
To meet the expansion requirement and need of specialized services, the process for recruitment of 1000 Officers and 1000 Clerical staff is on the verge of completion.
Risk Management:
Standardised Approach -- for Credit Risk
Standardised Approach (Duration based) -- for Market Risk
Basic Indicator Approach -- for Operational Risk
-
Market Discipline is observed in the Bank by publishing all the requisite disclosures in the Annual Report as well as in its Website.
-
Migration to Advanced Approaches is under process for which MIS based on technology is under implementation.
Customer Service:
In order to bring about further qualitative improvement in Customer Service, Bank has stepped up its entire machinery. The Bank has reconstituted the Standing Committee on Customer Service in which 2 prominent personalities of public domain have been included for better interaction on various important aspects on customer service. The Bank has simplified procedure for settlement of claims in respect of deceased depositors’ accounts. The format for lodging complaint has been made available in Bank’s Website.
Kolkata
18th July, 2009. |
