Kolkata, July 18: Public sector Allahabad Bank has reported a 3-fold rise in first quarter net profit at Rs 303 crore.
The bank had a net profit of Rs 93 crore in the June quarter of the last fiscal.
The jump in net profit had been due to improved treasury operations, Bank Chairman and Managing Director K R Kamath said.
Net interest margin (NIM) of the bank in the first quarter stood at three per cent compared to 2.60 per cent in the corresponding period last fiscal.
Kamath told reporters here today that business of bank touched Rs 1.5 lakh crore registering a growth of 21.83 per cent. Deposits of the bank went up to Rs 89,401 crore (Rs 73,207 crore) and advances to Rs 61,002 crore.
He said that non-interest income of the bank increased 36.59 per cent during the quarter.
Credit deposit of the bank stood at 69 per cent at the end of June 2009.
–PTI