Treasury boosts AllBank net profit to Rs 365 crore

Kolkata-based Allahabad Bank, reported a net profit of Rs 365.05 crore for the third quarter to December 31, 2007, as against Rs 286.13 crore for the corresponding period last year. The bank?s net profit registered a growth of 27.58%.

Written by Banking Bureau

January 17, 2008 23:35 IST

Announcing the result, the bank?s chairman and managing director, AC Mahajan said the first nine-month period of the current fiscal showed a rise of 28.96% at Rs 805.23 crore. The net profit for the corresponding period of the previous year was Rs 624.41 crore.

?The increase in net profit has resulted from the profit from growth in treasury income and interest income,? Mahajan said. The interest income has increased to Rs 1,583.49 crore during the quarter, against Rs 1,304.96 crore for the corresponding period last year. Treasury income of the bank for the quarter has climbed up to Rs 301 crore against Rs 42 crore last fiscal.

This article was first uploaded on January seventeen, twenty eight, at thirty-five minutes past eleven in the night.