Allahabad Bank aims for 21% business growth
By Neelima Shankar
Jun 15, 2012
Print    Email    RSS   

At the 10th Annual General Meeting of Allahabad bank, held in Kolkata, the bank announced that it has set its sights on a 21.39 % business growth at around Rs.3,300 billion at the end of the current financial year.

Talking on the matter, the Chairman and managing director of the bank, Mr. J.P. Dua , said, "Sustaining its growth momentum, the bank has targeted a business growth of 21.39 per cent during the current year and projected a business level of around Rs.330,000 crore as on March 31, 2013".

Dua said that the growth could be achieved due to the banks attention towards a better customer service, branch expansion and introducing new products. All of this culminated into a hike in the bank's total business by 20.04 per cent at Rs.2,718.43 billion during the previous fiscal.

The bank also has expansion plans, both within and outside India. In the current financial year, the bank plans to open 250 branches and install 1000 ATMs .

On the bank's international presence, Mr. Dua said that the bank has projected to open more branches abroad to augment its international presence. He said, "In order to increase overseas presence, apart from the existing overseas branch at Hong Kong and the representative office at Schenzen, China, the bank has planned to open more overseas branches".



(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Sweep in to Auto Sweep savings A/c
The recent interest rate hike
FDs or Equity? Which suits you best?
Should you preclose your current FD for...
Gold ETFs or Gold Funds: Which One Should...

MEXING: CaℒL Giℛℒ In Hoshiarpur 09855660911...
Sakeela.CaℒL Giℛℒs In Kharar 0985566O911...
NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...

Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive