Allahabad Bank is targeting a loan growth of 20% and a deposit growth of 17% for fiscal 2008-09.
?The rise in loan will come from small and medium businesses, steel, cement and commercial real-estate sectors,? said KR Kamath, chairman and managing director of the bank. The bank?s deposits grew by 18.46% till September 2008.
Kamath said the bank plans to maintain its net interest margin at 2.75% and capital adequacy ratio at 11.68% for 2008-09.
The bank has a headroom of raising Rs 2,500 crore in the tier I and tier II segment. ?We have a scope of raising Rs 2,500 crore from tier I and tier II which can give us adequate capital adequacy ratio for the next two years,? Kamath said at a press conference in Kolkata on Friday.
?We will raise funds at the opportune time,? he said.
