Allahabad Bank Pays 15% Final Dividend To Govt. Of India.

Shri O. N. Singh, Chairman & Managing Director of Allahabad Bank today handed over a cheque for Rs.37, 00,50,000/- to Sri P Chidambaram, Hon;ble Minister of Finance, Government of India being the amount of 15% final dividend for the year 2004-05.

Allahabad Bank also paid an interim dividend of 15% to the Government of India amounting to Rs.37, 00,50,000/- for the fiscal 2004-05 on 25.3.2005. In other Words, the Bank paid out a total dividend of 30% for the year 2004-05.

Allahabad Bank has been reporting sustained growth in recent years. As on 30. 6. 2005, the total business of the Bank stood at Rs.65,455 crores recording an increase of 26.67% year -on -year basis.Net Profit of the Bank increased from Rs.137.65 crores during April - June,04 to Rs.162.98 crores in April -June,05 showing a growth of 18.40%. Net NPA ratio reduced to 0.99% as at June-end, 2005 from 1.69% as at June-end 2004. Capital Adequacy Ratio improved to 13.80%. The Return on Assets (ROA) increased to 1.36% during April-June, 2005 from 1.20% during 2004-05.

Thus, the Bank is fully prepared for compliance of Basel II norms and meeting the stakeholders' expectations satisfactorily.

Publicity Cell, Head Office
19th July, 2005.