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Allahabad Bank net up 14.62 percent in Q1

Kolkata, July 23 (IANS) City-based public sector Allahabad Bank posted a 14.62 percent surge in net profit in the April-June first quarter of the current fiscal to Rs.347 crore from Rs.303 crore during the corresponding period last year, a top official said here Friday.

The bank recorded a 19.29 percent growth in the operating profit in the first quarter. The net interest margin was up by 3.10 percent, said J.P. Dua, the chairman and managing director of the Allahabad Bank.

The bank is also planning to open an office in Dhaka and Shanghai this year.

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