Allahabad Bank registers increase in total business
For the quarter ending December 2018 in financial year 2018-19, the Allahabad Bank registered total business of Rs 3,67,713 crore. According to an official release, the share of CASA in total deposit improved to 47.74 per cent in December 2018 as against 45.14 per cent at the end of December 2017, one of the highest in the industry.
Further, the retail credit grew by more than 26.11 per cent year on year basis while the cost of deposit improved to 5.13 per cent. The Provision Coverage Ratio (PCR) significantly improved to 69.64 per cent while the Gross NPA (GNPA) stood at 17.81 per cent as on December 2018.
The total business of the bank stood at Rs 3,67,713 crore with total bank deposit of the bank at Rs 2,09,235 crore and gross credit at Rs 1,58,478 crore. The bank has also signed an MoU with SBI Life as a second partner in life insurance segment apart from LICI for providing alternative option to its customers. A strategic decision has also been taken to introduce co-branded credit card with SBI cards to offer a complete bouquet of digital banking products.
Sunday, 10 February 2019 | PNS | Dehradun
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