ALLAHABAD BANK  NET PROFIT GROWS 95% FOR 9 MONTHS UPTO DECEMBER, 2009

• Deposits registered Growth of 25.39 % (YOY)
• Gross Credit up  by 24.51% (YOY)
• Total Business soared by 25.03 % (YOY)
• Operating Profit surged by 47 % (YOY)
• Provision Coverage Ratio increased to 88.29 %
• Capital Adequacy Ratio surges to 15%.
• Book Value per share mounts to Rs. 152.72.
• Net NPA reduced to  0.35 % from 0.82% last year.

Highlights of the performance for the Nine Months
 ended December’2009:

• Operating Profit surged to Rs. 1891 cr as at December’2009 as against Rs.1287 cr last year showing a YOY growth of 47 %.
  
  
•  Net Profit rose to Rs. 982 cr.  during the Nine Months period ending 31.12.2009 as against Rs. 505 cr last year showing a YOY Growth of 95%
  
  
•  Net Interest Income during the Nine Months since April,2009 stood at Rs. 1908 cr  as against Rs. 1566 crore last year recording a YOY Growth of 22%
  
  
• Non-Interest Income during the Nine Months ending December,09 rose to Rs.1114 cr  as against Rs. 684 cr. previous year showing a YOY growth of 63%
  
  
• Total Business of the Bank stood at Rs.159843 cr. as on 31.12.2009 as against Rs.127847 cr. in previous year showing a YOY growth of 25.03 %.
  
  
• Deposits of the Bank went up to Rs. 94164 cr. as on 31.12..2009 from Rs.75095  cr. as on 31.12.2008 . Year-on-Year  basis, Total Deposits grew by 25.39%.(Rs. 84972 cr. as on 31.3.2009.)
  
  
• Gross Credit was Rs.65679.83 cr. as on 31.12.2009 as against Rs.52752 cr. as on 31.12.2008. Year-on-Year basis, the Gross Credit increased by 24.51 %.  (Rs.59443 cr. as on 31.3.2009)
  
  
• Credit Deposit Ratio stood at  69.75 % as at  December 2009 end.
  
  
• Gross NPA to Gross Advances further declined to 1.77  % as at December-end 2009 from 1.93 % as at December 2008.
  
  
• Net NPA to Net Advances Ratio declined to 0.35  % as at December 2009 from 0.82 % as at December-end 2008.( 0.72% as at March 2009).
  
  
• Provision Coverage Ratio reached to 88.29%.
  
  
• Net Interest Margin (NIM) stood at 2.93 % during the Nine Months ending December,09 as against 2.85% last year.
  
  
• Return on Asset as at the end of Nine Months in December,09 stood at 1.29% as against 0.81% last year.
  
  
• Earning per Share surged to Rs.21.98  during the Nine Months ended December,09 from Rs. 11.29 corresponding last year.
  
  
• Book Value per Share increased to Rs.152.72 during the Nine Months from April,2009 from Rs.128.03  as on 31.12.08.
  
  
• Capital Adequacy Ratio increased from 12.20 % as on 31.12.2008 to 15.00 % as on 31.12.2009.                                                                                                                                                

      Highlights of the performance for the quarter ended December’2009

• Operating Profit as at December,09 quarter end stood at Rs. 650.13 cr. as against Rs. 666.06 cr.  last year.
  
  
• Net Profit of the Bank was Rs.345.37 cr. for the quarter ended December,09 as against Rs. 369.47 cr.  in the corresponding last year.
  
  
• Net Interest Income during Q-3-FY2009-10 stood at Rs. 675.57 cr. as against Rs. 604.13 cr. showing a YoY growth of 11.83%.
  
  
• Non-Interest Income during the third quarter of 2009-10 was Rs. 339.53 crore as against Rs. 408.41 crore previous year.
  
  
• Gross NPA to Gross Advances further declined to 1.77% as at the December-end,2009 from 1.93% as at December,2008 (1.81% as at March,2009)
  
  
• Net NPA to Net Advances Ratio declined to 0.35% as at the quarter ended December,2009 as against 0.82% last year.
  
  
• Net Interest Margin (NIM) stood at 2.97% at the end of the December,2009 quarter as against 3.24% last year.
  
  
• Return on Assets as at the quarter ended December,2009 stood at 1.31%.
  
  
• Earning Per Share was Rs. 7.73 as at the end of the third quarter FY-2009-10.
  
  
• Book Value per Share increased to Rs. 152.72 as at December,09 from Rs. 128.03 last year.

New Initiatives :

• Bank has launched a much liberalized New Scheme for Rice Shelling Units to meet the credit requirements of the Rice Shelling Enterpreneurs.
  
  
• Bank has launched a New Scheme for granting speedy and hassle-free OPEN TERM LOAN to existing units of the Bank specially in the mid-segment to meet their capex requirements during  a particular year.
  
  
• Bank has launched a New Scheme for financing the Construction Contractors in order to boost growth in the mid-segment.
  
  
• Bank has also launched modified AllBank Trade Loan Scheme for granting Working Capital and  Term Loan requirements of the Trader-borrowers.
  
  
• Applications Supported by Blocked Amount (ASBA) with latest features is now made available to our Customers for investing in the IPOs through our select CBS Branches.
  
  
• Video Conferencing System has been expanded to 21 Locations covering all Field General Managers’ Offices and Training Centres.
  
  
• Bank opened 26 Branches during the Nine Months ended on 31.12.2009 of which 14 are in Rural and Semi-Urban areas, taking the total number of Branches to 2285 including one overseas Branch at HongKong.
  68 authorisations are in hand as on 31.12.2009 for opening New Branches.
  
  
• Bank’s Staff College, Kolkata has been awarded ISO 9001-2008 Certification for maintaining the quality Management System in the College.
  
  
• In order to deliver outstanding service to our Customers with focused attention in a specialized manner, the Bank has initiated steps for Centralization of various processes from mobilization to disbursement of Retail Loans by opening new dedicated delivery channels named as Centralised Retail Banking Boutique(CRBB) at important centres. Such CRBBs have been made operational at 26 major centres throughout the country.                                    

Retail Credit :

• Total Outstanding under Bank’s Retail Credit went up to Rs. 9285 cr. as on 31.12.2009 as against Rs. 7804 cr. during the corresponding period last year showing a YoY growth of 18.98%.
  
  
• Total disbursement under Retail Credit rose to Rs. 2049 cr. as at Dec’09 end as against Rs. 1019 cr. last year registering a YoY growth of 101.07%.
  
  
• Keeping in view the enthusiastic and overwhelming response, Bank has extended the Festival Bonanza for various select Retail Loan Products by one more month.     Attractive rebate in Interest Rates and Processing Fees on certain Retail Loans is now available upto 31.01.2010.
  
  
• Bank has launched  the modified AllBank Trade Scheme. The Loan amount increased to Rs. 5.00 crore from existing Rs. 2.00 crore. Besides, Clean Term Loan Facility for payment of Security Deposit and/or Long Term Revenue Expenditure like Advertisement, Cost of Franchisee, License etc. has been introduced.

Social Banking :

• Priority Sector Credit grew from Rs 18317 cr. as on 31.12.2008 to Rs.22463 cr. as on 31.12.2009 registering an absolute growth of Rs 4146 crore and YOY growth of 22.63%.
  
  
• Outstanding Agriculture Credit increased from Rs.8636 cr. as at December 2008 to Rs.10980 cr. as at December 2009 registering an absolute growth of Rs. 2344 cr. and YOY growth of 27.14%.
  
  
• Fresh Credit Disbursal in Agriculture Loans has reached Rs. 2686 cr. during the nine months period since April,2009 and upto December’09 as against the budget of Rs. 2514 cr., thus achieving 106.84% of the Budget.
  
  
• Credit to Micro & Small Enterprises (MSE) grew from Rs.4019 cr. as on 31.12.2008 to Rs.7204 cr. as on 31.12.2009 as against the budget of Rs. 5172 cr. registering an absolute growth of Rs. 3185 cr.
  
  
• Bank has achieved 100% Financial Inclusion in seven Lead Districts of the Bank in the States of UP and Jharkhand.

Technology :

• Bank has geared up CBS implementation and 961 Branches/Offices covering 81.02 % of the Bank’s business have been brought within the network.
  
  
• Internet Banking, SMS Banking, e-Payment of Taxes made available through all CBS Branches.
  
  
• Instant ATM-cum Debit Card facility launched for the customers of CBS Branches. Bank has installed 211 ATMs facilitating more than 5.80 lacs ATM –cum-Debit Cardholders of our Bank.
  
  
• Bank is offering RTGS/NEFT fund transfer facility through its all CBS Branches in which funds can be transferred to any of 61000 Bank Branches across the country. RTGS/NEFT facility has also been extended through Internet Banking.
  
  
• Online Payment Gateway Services launched by the Bank for its Customers to make online payments at the billers’ site with instant debit from their accounts.

Publicity Department,
Head Office, Kolkata
22nd January, 2010.