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CONSISTENT GROWTH ALL THE WAY

ALLAHABAD BANK’S BUSINESS CROSSES Rs. 2,00,000 CRORE

Allahabad Bank records 21.27 % growth in Q3 Operating Profit
Net Profit up by 20.39 % at Rs. 415.80 crore
Net Interest Income up by 55.67 %
Net Interest Margin (NIM) surges to 3.44 %
Provision Coverage Ratio at 80.22 %
Earnings per Share mounts to Rs. 9.31

Highlights of Q3’ FY-2010-11

Operating Profit as at December’10 quarter end mounts to Rs. 788.43 cr as againstRs. 650.13 cr last year.
Net Profit of the Bank surges to Rs. 415.80 cr for the quarter ended December,10 as against Rs. 345.37 cr in the corresponding last year.
Net Interest Income during Q-3-FY2010-11 stood at Rs. 1051.63 cr as against Rs. 675.57 cr last year.
Non-Interest Income during the third quarter of 2010-11 stood at Rs. 257.64 cr.
Gross NPA to Gross Advances remained at 1.77 % as at the December-end, 2010
Net NPA to Net Advances Ratio stood at 0.59 % as at the quarter ended December,2010
Net Interest Margin (NIM) surges to 3.44 % at the end of the December, 2010 quarter as against 2.97% last year.

Highlights of the performance for the Nine Months ended December, 2010

Operating Profit surges to Rs. 2,274.54 cr as at Dec’2010 as against Rs. 1,890.60 cr last year showing a YOY growth of 20.31 %.
Net Profit rose to Rs. 1,165.51 cr during the Nine Months period ending 31.12.2010 as against Rs. 981.82 cr last year showing a YOY Growth of 18.71%
Net Interest Margin (NIM) stood at 3.34 % during the Nine Months ending December,10 as against 2.93% last year
Net Interest Income during the Nine Months since April, 2010 stood at Rs. 2,871.17 cr as against Rs. 1,907.88 crore last year recording a YOY Growth of 50.49 %
Non – Interest Income during the Nine Months ending December,10 stood at Rs. 900.94 cr.
Total Business of the Bank increased to Rs. 2,07,785 cr as on 31.12.2010 as against Rs.1,59,843 cr in previous year showing a YOY growth of 30 %. (Rs. 1,78,493 cr as on 31.3.2010)
Deposits of the Bank went up to Rs. 1,20,948 cr as on 31.12.2010 from Rs. 94,164 cr as on 31.12.2009. Year-on-Year basis, Total Deposits grew by 28.44 %. (Rs. 1,06,056 cr as on 31.3.2010)
Gross Credit surged to Rs. 86,837 cr as on 31.12.2010 as against Rs. 65,680 cr as on 31.12.2009. Year-on-Year basis, the Gross Credit increased by 32.21 %. (Rs. 72,437 cr as on 31.3.2010)
Credit Deposit Ratio rose to 72.12 % as at December 2010 end as against 70.29% last year.
Gross NPA to Gross Advances further remained at 1.77 % as at December-end 2010.
Net NPA to Net Advances stood at 0.59 % as at December 2010.
Provision Coverage Ratio stood at 80.22 %.
Capital Adequacy Ratio was 12.78 % as on 31.12.2010.
Business per Employee surged to Rs. 9.60 cr as on Dec’10 as against Rs. 7.45 cr last year.
Market Share of Deposit as on 31.12.2010 rose to 2.42% as against 2.19% last year.
Market Share of Advances as on 31.12.2010 rose to 2.31% as against 2.17% last year.

Shareholders’ Value:

Return on Asset as at the end of Nine Months in December, 10 stood at 1.24 % vis-a-vis 1.16% as on 31.03.2010. (Q3, FY2010-11: 1.28%)
Earning per Share surges to Rs. 26.09 during the Nine Months ended December, 10 fromRs. 21.98 corresponding last year. (Q3, FY2010-11: Rs.9.31)
Book Value per Share increases to Rs. 177.16 during the Nine Months ended Dec, 2010 from Rs. 151.17 as on 31.03.10.

New Initiatives:

As many as 116 Branches have been opened including upgradation of 55 Extension Counters into full-fledged Branches during the Nine months ending Dec,2010 of which 10 are Rural, 38 are Semi-Urban, 36 are Urban and 32 are Metropolitan Branches taking the Total number to 2402 of which 38 Branches have been opened during the Quarter ending Dec,2010.
40 number of Authorizations are in hand for opening New Branches.
Bank has imparted training to 6472 Personnel (Officers-5222, Award Staff-1081 and 169 Non-employees) through Bank’s own Internal Training Establishments.
With a view to enhance Capacity Building exercise, special “Management Development Programs” for the Zonal Heads were conducted by the Administrative Staff College, Hyderabad.
Bank has engaged Integra Micro Systems P Ltd for providing end-to-end solution for implementation of Bank’s Financial Inclusion Plan in 500 villages in the first phase with 20 villages attached to 4 Base Branches. Another 480 villages will be attached to 96 Branches in the 2nd phase on Pilot basis. The Project is being implemented in West Bengal, Jharkhand, UP and MP.
Bank being the SLBC Convenor in the State of Jharkhand, has launched its First Mobile Banking Van fitted with ATM through CDMA VPN connectivity in Ranchi for its Lead District Dumka, State Jharkhand under Financial Inclusion Plan for catering Banking services in 12 villages in the District including Financial Literacy.
“Housing Finance Scheme for NRI/PIO” introduced for granting Housing Finance to NRI/PIOs.
Premium Housing Finance Scheme introduced for High Networth Individuals (HNIs).
Bank has entered into Tie-Up arrangement with a number of Country’s renowned Vehicle Manufacturers to sell their Vehicles to the Bank’s Customers. Such Companies, inter-alia, include M/S Rasandik Engineering Industries India Ltd, M/S Ashok Leyland Ltd, M/S Force Motors Ltd, M/S Hindustan Motors Ltd, M/S Mahindra & Mahindra Ltd, M/S Man Force Trucks Pvt Ltd, M/S URAL India Ltd, M/S Hyundai Motors Ltd etc. to sell their vehicles to the Customers of the Bank.
Bank has entered into a Tie-Up arrangement with the Life Insurance Corporation of India for opening of their Current Account with the Bank’s Branches.
Universal Sompo General Insurance Company Ltd (USGICL) has launched a Unique Health Insurance Scheme viz. “Sampoorna Swasthya Kavach” exclusively for the Customers of Allahabad Bank.
Bank entered into Tie-Up arrangement with “Unique Identification Authority of India Ltd” with a view to allot Unique Identification Number to every Customer of the Bank nation-wide.

Technology

Bank’s over 24 million Customers can now avail Banking facilities through any of Bank’s 2400 + Branches nation-wide.
One more ATM installed at Dumka in the Mobile Banking Van taking the total number of Bank’s ATMs to 213.
Bank issued more than 8.74 lacs ATM-cum-Debit Cards including 2.70 lac Instant ATM Cards to Customers.
Alongwith the Internet Banking for individuals, Bank has introduced Internet Banking facility for its Corporate Customers also.
On-Line Payment Gateway Services launched by the Bank for its Customers to make real time on-line payment at the Billers’ Site with instant debit from their accounts.
Central Processing Hub (CPH), made live in Bangalore, is handling Inward and Outward Clearing Transactions of Branches.
Cash Management System is running live with 1 HUB and 32 SPOKES in which fast Remittance facility is provided to Clients by bulk RTGS/NEFT facilility.
Online payment of Direct Taxes (CBDT) and Indirect Taxes (CBEC) provided through Internet Banking Channel for the Customers on 24X7 basis.
ASBA with latest features is made available to the Customers to invest in the IPOs without parting with the funds through Bank’s Branches in selected 21 locations in 7 different cities.
Facility for payment of UP VAT through net banking made available to the Customers in UP.
Incentive Scheme for Officers for obtaining various Professional Certifications in the areas of Information System Audit has been introduced.
Bank has introduced a portal named “ Training Management System” as a part of e-learning initiativ

Retail Credit:

Total Disbursement under Retail Credit of the Bank upto Dec, 2010 surged to Rs. 2,701 cr as against Rs. 2,049 cr during the corresponding period last year registering a growth of 32%.
Total Outstanding under Retail Credit as on 31.12.2010 stood at Rs. 11,913 cr as against Rs.9,285 cr as on 31.12. 2009, constituting 13.71% of Gross Credit of the Bank.
Bank has extended Festival Bonanza discount on Select Retail Loan Schemes upto 31.03.2011, under which Rebate upto 1.00 % in Interest Rate and 50% in applicable Processing Charges have been allowed. Loans amounting to Rs. 500 cr have been disbursed upto 31.12.2010 with Festival Bonanza Discount.
Bank has entered into a Tie-Up arrangement with M/S Hyundai Motors Ltd for financing their vehicles for personal use under Bank’s Car Loan Scheme for employees.
Bank has financed 7,500 vehicles for commercial use under its Commercial Vehicle Finance Scheme during the last one year amounting to Rs. 217 cr.
Bank has dedicated Delivery Channels for Retail Lending through its 27 Centralized Retail Banking Boutiques (CRBB) with on-line application facility and 75 Retail Banking Boutiques (RRB) across the country, besides other Branches authorized to sanction/disburse Retail Loans.

Social Banking:

Priority Sector Credit grew from Rs. 22,462 cr as on 31.12.2009 to Rs. 27,455 cr as on 31.12.2010 registering an absolute YoY growth of Rs. 4,993 cr (22.23%).
Outstanding Agriculture Credit increased from Rs. 10,980 cr as at December 2009 to Rs.12,172 cr as at December 2010 registering an absolute YoY growth of Rs. 1,192 cr (10.86%).
Credit to Micro & Small Enterprises (MSE) grew from Rs. 7,204 cr as on 31.12.2009 to Rs.9,974 cr as on 31.12.2010 as against the budget of Rs. 9907 cr registering an absolute YoY rise of Rs. 2,770 cr (Growth: 38.45%)
Credit to Micro, Small and Medium Enterprises (MSME) grew from Rs. 8,402 cr as on 31.12.2009 to Rs. 12,368 cr as on Dec, 2010 registering an absolute YoY growth of Rs. 3,966 cr (47.20%)
Bank has already implemented its Financial Inclusion Plan in 315 villages and opened a Rural Branch at Gadaipur, New Delhi under the Plan.

Future Plans

Bank has planned to achieve Rs. 2,20,000 cr in Total Business and to increase the number of Branches to 2,425 within 31st March, 2011.
Bank has envisaged to cross Rs. 4.00 lac crore in Total Business, to increase the number of Branches to 3,000 and to open 2000 ATMs within next 3 year- horizon.
Out of total 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.
Bank has plans to open more Branches Overseas which include one at Singapore, Shanghai, Dhaka(Bangladesh) and Kowloon (HongKong) for which ground work is in progress.
Scheme of 1% interest subvention on Housing Loans upto Rs. 10 lacs announced by the Hon’ble Union Finance Minister is being implemented by the Bank.
The Central Scheme to provide Interest Subsidy for the period of moratorium on Educational Loans taken by Students from Economically Weaker Sections (EWS) from Scheduled Banks under the Educational Loan Scheme of the Department of Education, Ministry of Human Resources, Govt. of India to pursue technical/professional education in India is in the process of implementation.
CBS implementation in the Bank’s sponsored 2 Regional Rural Banks will be complete by September 2011.
As a Registrar to UIDAI, enrollment and issuance of “AADHAR” Unique Identification Numbers to 80% of the Residents of all areas allotted to the Bank under Financial Inclusion Plan will be completed.
UID enabled Micro Payments System will be introduced to No-Frill Account-holders with Micro ATM technology to obviate last mile collection problem.
As per the directions of the RBI, implementation of Cheque Truncation System (CTS) in Chennai Grid will be completed within the targeted schedule.
With a view to enhance NFNI, Bank is in the process of introducing PRE-PAID CARDS in the market.
Policy on Summer Internship Program (SIP) under HRD has been finalized by the Bank.

Publicity Department,
Head Office, Kolkata
28th January, 2011.