|
|
|
|
 |
| |
Allahabad Bank on high growth path
Allahabad Bank has recorded highest
growth in all business parameters during the year 2003-04. The total business of the Bank
increased by Rs.8914 crores (or 22.9%) during 2003-04 as compared to the growth of Rs.4979
crores (or 14.7%) in last fiscal. The performance highlights for year 2003-04 are
presented below:
- Aggregate Deposits of the Bank grew by 25.4% during 2003-04 as against the
growth of 13.5% in the corresponding period last year.
- Gross Credit grew by 21.5% as compared to 19.3% during this period.
- Net profit increased by 179.16% during the year 2003-04 and by 296.82% during the
quarter ended March 2004 over the corresponding quarter last year.
- Operating Profit of the Bank increased by 69.87% during the year 2003-04 to reach
Rs.876.25 crores.
- Net NPA reduced to 2.37% as on 31.3.2004 from 7.08% as on 31.3.2003.
- Return on Assets (ROA) improved to 1.34% during 2003-04 from 0.59% during 2002-03.
- Provision Coverage Ratio improved to 73.75% as on 31.3.2004 from 51.23% as on 31.3.2003.
- Return on Net Worth scales to 41.03% from 19.70% during this period.
- Earning per share improved to Rs.13.37 from Rs.5.89 during this period.
- Spread to Average Working Funds (Net Interest Margin) improved to 3.39% from 2.94%.
- Cost of Deposits reduced to 5.63% during 2003-04 from 6.79% during 2002-03.
- Operating Expenses to Average Working Funds declined to 2.44% from 2.60% during the
corresponding period last year.
- Capital Adequacy Ratio improved to 12.52% from 11.15%.
- Investment Fluctuation Reserves raised to 3% as on 31.3.2004.
OPERATING RESULTS
| |
During
the year |
Growth
(%) |
During
the 4th Quarter ended March |
Growth
(%) |
2002-03 |
2003-04 |
2003 |
2004 |
Operating Profit |
515.83 |
876.25 |
69.87 |
123.89 |
320.17 |
158.43 |
Net Profit |
165.99 |
463.38 |
179.16 |
55.73 |
221.15 |
296.82 |
BUSINESS GROWTH
(Amount in Rs. Crores)
Parameters |
31.3.’03 |
31.3.’04 |
Variation |
2003-04 |
2002-03 |
| |
|
|
Amt. |
% |
Amt. |
% |
1) Total Business |
38950 |
47864 |
8914 |
22.89 |
4979 |
14.66 |
2) Total Deposits |
25463 |
31476 |
6013 |
23.61 |
2797 |
12.34 |
3) Aggregate Deposits |
24689 |
30960 |
6271 |
25.40 |
2939 |
13.51 |
4) Bank Deposits |
774 |
516 |
-258 |
-33.33 |
-142 |
-15.50 |
5) Gross Credit |
13487 |
16388 |
2901 |
21.51 |
2182 |
19.3 |
6) Non-Food Credit |
12361 |
15566 |
3205 |
25.93 |
2314 |
23.03 |
| 7) Investments (Gross) |
12476 |
15600 |
3124 |
25.04 |
1514 |
13.81 |
- The Business of the Bank increased to Rs.47,864 crores as at March-end 2004 from
Rs.38950 crores as at March-end 2003, registering a growth of Rs.8914 crores (or 22.89%)
during 2003-04 as compared to the growth of Rs.4979 crores (or 14.66%) during 2002-03.
- Deposits of the Bank stood at Rs.31476 crores as on 31.3.2004 as against Rs.25463 crore
as on 31.3.2003, registering a growth of Rs.6013 crores or 23.61% during 2003-04 as
compared to the growth of Rs.2797 crores or 12.34% during the corresponding period last
year. Aggregate Deposits grew by 25.40% during 2003-04 as against 13.51% during 2002-03.
- Gross Credit increased to Rs.16388 crore as on 31.3.2004 from Rs.13487 crore as on
31.3.2003, recording a growth of Rs.2901 crores (or 21.51%) during 2003-04 as against the
increase of Rs.2182 crores during 2002-03.
- Non-food credit of the Bank increased to Rs.15566 crores as on 31.3.2004 from Rs.12361
crores as on 31.3.2003, registering a growth of Rs.3205 crores (25.93%) during 2003-04, as
compared to the growth of Rs.2314 crores (23.03%) during 2002-03.
- Gross Investments of the Bank increased to Rs.15600 crores as on 31.3.2004 from Rs.12476
crores as on 31.3.2003, showing a growth of Rs.3124 crores or 25.04% during 2003-04 as
against the growth of Rs.1514 crores or 13.81 during 2002-03.
PROFITABILITY
- Operating Profit of the Bank during the year 2003-04 increased to Rs.876.25 crores from
Rs.515.83 crores during 2002-03, showing a growth of 69.87% as compared to the growth of
26.44% in the corresponding period last year.
- Operating Profit of the Bank during the quarter ended March 2004 was Rs.320.17 crores as
compared to Rs.123.89 crores during the quarter ended March 2003.
- Net Profit of the Bank during 2003-04 increased to Rs.463.38 crores from Rs.165.99
crores during the corresponding period last year, registering a growth of 179.16% as
compared to the growth of 106.94% during last year.
- Spread to Average Working funds increased to 3.39% during 2003-04 from 2.94% during
2002-03.
EFFICIENCY RATIOS
- Return on Assets improved to 1.34% during 2003-04 from 0.59% during 2002-03.
- Return on Net Worth improved to 41.03% from 19.70% during this period
- Capital Adequacy Ratio improved to 12.52% from 11.15% during this period.
- Cost of Deposits declined to 5.63% during 2003-04 from 6.79% in the corresponding period
last year.
- Operating Expenses to Average Working funds declined to 2.44% from 2.60% during this
period.
SHAREHOLDERS VALUE ENHANCED
- Earning Per Share (EPS) increased to Rs.13.37 as on 31.3.2004 from Rs.5.89 as on
31.3.2003.
- Book Value per share improved to Rs.44.76 from Rs.33.76 during this period.
SOCIAL BANKING
- Priority Sector Advances increased to Rs.7443 crores as at March-end 2004, which is
45.77% of net adjusted credit, from Rs.5629 crores as at March-end 2003, which was 42.29%
of net adjusted credit.
- Agricultural Advances stood at Rs.3063 crores as at March-end 2004, forming 18.88% of
net adjusted credit as against the stipulated norm of 18%.
- The Bank has issued 1,30,155 Kisan Credit Card during 2003-04 as against the target of
1,30,000 cards.
RETAIL CREDIT
- During 2003-04, the Bank disbursed Rs.1931 crores under its retail lending portfolio as
compared to Rs.1447 crores in the corresponding period last year. The outstanding under
retail lending schemes was Rs.3170 crore as on 31.3.2004, which accounts 20.36% of
non-food credit of the Bank as against 16.61% as on 31.3.2003. The 257 Retail Banking
Boutiques continued to spearhead the retail lending of the Bank.
NPA MANAGEMENT
- Net NPA ratio declined to 2.37% as at March-end 2004 from 7.08% as at March-end 2003.
Gross NPA declined to 8.66% from 13.65% during this period.
- Gross NPA amount declined to Rs.1418.46 crores as on 31.3.2004 from
Rs.1841.50 crores as on 31.3.2003 and Net NPA amount also declined to Rs.362.83 crores
from Rs.886.98 crores during this period.
- Provision coverage ratio went up to 73.75% as at March-end 2004 from 51.23% as at
March-end 2003.
TECHNOLOGY DRIVE
- The Bank has put in place a comprehensive technology plan and is continuously
implementing the technology initiatives to become a technology driven Bank in near future.
- As at March-end 2004, the Bank has computerised 1039 branches and extension counters.
These computerised branches covered 77.27% of the Business as on 31.3.2004.
- The Bank has also set up 85 ATMs across the country. Switch has been installed at
Reliance Data Centre, Navi Mumbai and integration work is under progress.
- The Bank has initiated the process for upgradation of MIS through centralised data
warehousing and data mining through Centralised Banking Solution (CBS).
- The Banks’ 24 terminals of INFINET (IDRBT’s VSAT network) are operational.
Banks’ own INTRANET is being used extensively for file transfer, e-mail and web
publishing.
- On Line Tax Accounting System (OLTAS) has been implemented in 167 branches.
- In order to implement the Real Time Gross Settlement System (RTGS), the Bank has already
placed order for necessary hardware/ software/ networking equipments. Link from Payment
Gateway to RBI (HOT & Standby Site) has been established.
NEW INITIATIVES
- Expansion of Branch Network at important business centres.
- Restructuring of Branches including merger/closure /re-allocation.
- Technology drive - 100% computerisation of branches within the current fiscal,
connectivity of the ATM, introduction of Core Banking Solution (CBS) at selected centres
& participation in the Real Time Gross Settlement scheme of RBI.
- Corporate Agency Arrangement with LIC, NICL & ECGC.
- Corporate distributorship for UTIMF products.
- Expansion of Business coverage of Retail Banking Boutiques.
- Joined ARCL of UTI with contribution of equity.
- Focussed training plan for Treasury Management, Credit Management for the officers.
- To expand overseas business coverage opening of an OBU (Overseas Business Unit) at Noida
has been proposed and RBI clearance awaited.
TASKS AHEAD
- Business projection for the current fiscal has been adopted at Rs. 61000 crores from
Rs.47864 crores.
- Improvement of Market share of Deposits from 1.99% to 2.15%.
- To improve business per employee from Rs.2.10 crores to Rs.2.86 crores.
- To improve business per branch from Rs.24.71 crores to Rs.31.20 crores.
- 100% Computerisation of Branches and introduction of Centralised Banking Solution (CBS).
- Better HR Management for training and re-training of the employees for better
exploitation of future business opportunities and proper management of Risks.
- To make the Bank a strong vibrant financial institution.
KOLKATA
03.05.2004
|
|
|
