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CONSISTENT GROWTH ALL THE WAY
ALLAHABAD BANK'S BUSINESS CROSSES Rs.2,38,897 CRORE
- Allahabad Bank records 21.47 % growth in Q2 Operating Profit
- Net Profit up by 21.22 %
- Net Interest Income (NII) up by 36.01 %
- Net Interest Margin (NIM) increases to 3.68%
- Earning per Share mounts to Rs.10.25
- Capital Adequacy Ratio at 12.99 %
- Provision Coverage Ratio at 79.58%
Highlights of the performance for the Quarter/Half-Year ended September '2011
- Operating Profit increased to Rs. 949.29 crore as at the Quarter ended September '11 from Rs. 781.53 crore as at Sept.10 Quarter, registering a growth of 21.47% during the period. (HY-FY11-12 :Rs. 1838.91 Crore, YOY growth: 23.74 %)
- Net Profit of the Bank was Rs. 488.01 crore for the Quarter ended September '11 as against Rs. 402.57 crore in the corresponding period last year recording a growth of 21.22 %. (HY - FY'11-12: Rs. 906.14 crore, YoY Growth : 20.87 %).
- Net Interest Income(NII)during Q-2' FY11-12 at Rs. 1318.23 crore showed a growth of 36.01% (HY - FY'11-12: Rs. 2493.78 crore, YoY Growth : 37.06 %)
- Non-Interest Income during the Second Quarter of 2011-12 stood at Rs. 309.20 crore (HY - FY'11 -12 : Rs. 595.13 crore)
- Total Business of the Bank increased to Rs. 2,38,897 crore as on 30.09.2011 as against Rs. 1,96,816 crore in previous year showing a YoY growth of 21.38 %.
- Deposits of the Bank went up to Rs. 1,42,043 crore as on 30.09.2011 from Rs. 1,13,633 crore as on 30.09.2010 and Rs. 1,31,887 crore as on 31.3.2011. Year-on-Year basis, Total Deposits grew by 25 %.
- Gross Credit was Rs. 96,854 crore as on 30.09.2011 as against Rs. 83,183 crore as on 30.09.2010 and Rs. 94,571 crore as on 31.3.2011. Year-on-Year basis, the Gross Credit increased by 16.44 %.
- Credit Deposit Ratio stood at 68.44 % as at September 2011.
- Gross NPA to Gross Advances was maintained at 1.77 % as at September 2011.
- Net NPA to Net Advances ratio was 0.69 % as at September 2011.
- Provision Coverage Ratio was at 79.58 %.
- Net Interest Margin (NIM) was 3.68 % for the quarter ended 30.09.2011 as against 3.34 % corresponding previous quarter (HY: 3.54 % against 3.27%).
- Capital Adequacy Ratio stood at 12.99 % as on 30.09.2011 against the stipulated norm of 9%.
Shareholders' Value:
- Return on Asset (annualized) surged to 1.24 % in the Quarter ended 30.09.11 (HY:1.19 %)
- Earning per Share increased to Rs. 10.25 in the Quarter ended 30.09.2011 from Rs. 9.01 for the Quarter ended 30.09.10 (HY: Rs. 19.03 against Rs.16.78)
- Book Value per Share increased to Rs.197.99 as at September '11 from Rs.167.90 as on 30.09.10.
New Initiatives:
- Bank has entered into a strategic Alliance with M/s Aditya Birla Money Ltd for providing On-line facility for trading to the Demat Customers of the Bank.
- Bank has also signed an MOU with American Express Banking Corporation for issuance of "Programme Cards" i.e. Charge/Credit Cards to the Customers of the Bank
- Bank is in the process of installing Point of Sales(POS)/Electronic Data Capture (EDC) machines at Merchants’ Sites for acquiring Merchant Business.
- During the Half-Year ending September,2011, 26 new Branches have been opened taking the total number of Branches of the Bank to 2441 of which Rural-1001 (41%), Semi-Urban-464 (19%), Urban-513 (21%) and Metropolitan-463 (19%).
Retail Credit:
- Total outstanding under Retail Credit as on 30.09.2011 was Rs.13925.44 crore as against Rs. 11562 .55 crore as on 30.09.2010 showing a YoY growth of 20.44%.
- Disbursement under Retail Credit grew to Rs.1845.12 crore during the Half Year ending September,2011 as against Rs.1654.59 crore during the corresponding period last year(YoY growth : 11.52%)
- Apart from 62 Retail Banking Boutiques (RBB) operating across the country, Bank has opened 7 more Centralized Retail Banking Boutiques (CRBB) at various prominent Centres of the Bank taking the total number of CRBBs to 34. All these CRBBs have facility of applying on-line for Retail Loans for the Customers. CRBBs disbursed Rs. 277.59 crore in the Half-Year ending September,2011. Outstanding Loans in the CRBBs increased to Rs.1576.22 crore as on 30.09.2011 as against Rs. 1366 crore last year (YoY Growth : 15.39%).
- Bank has entered into a Tie-up with the Leading Automobile Manufacturer M/s Tata Motors Ltd for financing their vehicles .
- Total disbursement under Housing Loan during the first half of 2011-12 surged to Rs.351.07 crore as against Rs.305.27 crore last year (YoY Growth : 15%)
- Total Outstanding in Auto Loan ( Car +Mobike) increased to Rs. 644.81 crore as against Rs. 541.74 crore last year registering a YoY growth of 19%.
- During the quarter, Bank has announced Festival Bonanza discount on various Retail Lending Schemes, under which rebate upto 1.50% in interest rate has been offered under Select Loan Schemes and 50% rebate in applicable processing fees and documentation charges has also been offered on some Schemes. This offer is available to the Bank's Customers upto 31.12.2011.
Social Banking
- Priority Sector Credit grew to Rs. 30450 crore as on 30.09.2011 as against Rs.26138 crore last year showing a YoY Growth of 16.50%.
- Agricultural Credit outstanding increased to Rs. 12611 crore as on 30.09.2011 as against Rs.12079 crore as on 30.09.2010.
- Bank's Credit to Micro and Small Enterprises (MSE) surged to Rs.13591crore as on 30.09.2011 as compared to Rs.9358 crore last year showing a YoY Growth of 45.23 % and exceeding the target of Rs. 13581 crore.
- Three more RSETIs have been opened at Gonda, Balrampur and Jalaun , all in UP, during the Half-Year ending September,2011 taking the total to 16.
- Bank has covered 1753 villages under Financial Inclusion Plan by September,2011 by way of opening of Branches in 8 villages, 22 villages through Mobile Branch and 1723 villages by Business Correspondent (BC) Models.
- Bank as a Registrar of UIDAI, has completed 57846 number of enrolment upto September,2011.
Technology:
- Mobile Banking has been launched during the Half-Year ended September,2011.
- Internet Banking, SMS Banking, e-Payment of Taxes(Direct & Indirect) have also been made available from all the Branches of the Bank for the Customers.
- Total number of ATMs increased to 316.
- Instant ATM-cum-Debit Card facility is available for Customers of all Branches. Bank has issued more than 11.48 lac ATM-cum-Debit Cards to its Customers.
- All the 63 Branches and one extension counter of Sharda Gramin Bank and 507 Branches and 4 extension counters of Allahabad UP Gramin Bank have been migrated to CBS platform on and from 24.09.2011.
- The 3rd Mobile Banking Van of the Bank with ATM through CDMA VPN connectivity with CBS network has been rolled out at Khaira Branch under New Delhi Zone.
- Bank has extended Internet Banking Facility with option for Fund Transfer to the Corporate Customers for Cash Credit and Overdraft Accounts.
- Bank's RTGS/NEFT fund transfer facility implemented through all its Branches.
- Online Payment Gateway Services is available for the Customers to make online payments at the billers' site with instant debit from their accounts. More than 100 Merchants are added to the Bank's Gateway through M/s Bill Desk and more than 350 Merchants are added through M/s Tech Process.
- Central Processing Hub (CPH) is in operation in Bangalore. At present CPH is handling Inward and Outward Clearing transactions of Branches of Bangalore City.
- Cash Management System made live with 1 HUB and 32 SPOKES. Fast Remittance facility provided to Clients by bulk RTGS/NEFT facility.
- The facility of payment of UP VAT through Net Banking made available to Bank's Customers in UP.
- Facility for Online payment of Direct Taxes (CBDT) & Indirect Taxes (CBEC) has also been provided through Internet Banking Channel for the Customers of Bank's CBS Branches on 24 X 7 basis.
- 300 ATMs are being set up at Metro cities and State Capitals.
Future Plans
- Bank has planned for 25% growth in Business to reach at Rs.2,80,000 crore and to increase the number of Branches to 2,570 within 31st March, 2012.
- Bank has planned to open 155 Branches and 500 ATMs within the Financial Year 2011-12.
- Bank has envisaged to cross Rs. 4 lac crore in Total Business , to increase the number of Branches to 3,000 and to open 2000 ATMs within next 3 year- horizon.
- Bank has plan to open more Branches Overseas which include one each at Singapore, Shanghai, Dhaka(Bangladesh) and Kowloon (HongKong) for which ground work is in progress.
- Bank has 66 fresh authorization from RBI/approval from Board for opening new branches, which will be opened soon.
- Bank will open 11 more Financial Literacy and Credit Counselling Centres (FLCC) in its identified Lead Districts shortly.FLCC in North 24 Paraganas (WB) is scheduled to be opened on 14.11.2011.
- Out of a total of 18,167 villages allotted to the Bank, Financial Inclusion Plan will be implemented covering 2,618 villages with population above 2000 within 31.03.2012 through Business Correspondents and 200 Biometric Rural ATMs and 15,549 villages with population of less than 2000 will be covered within 31.03.2014.
- Out of 21 Rural Self Employment Training Institutes (RSETIs) planned to be opened by the Bank , 16 such Institutes have already been made operational and the remaining five Institutes will be opened shortly.
Kolkata
2nd November, 2011
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