Allahabad Bank plans adding 250 branches this year
By Neelima Shankar
Jun 7, 2012
Print    Email    RSS   

Public Sector Bank, Allahabad Bank has plans of adding 250 branches in the current fiscal, more than double of 100 branches it had opened the last year.

Adding more branches to its current 2,500 branches would reduce the risk for the bank, said Mr. T.R. Chawla, Executive Director. The bank has increased the recruitments to meet its target of new offices. Bank hired 1,600 probationary officers and 350 specialist officers, and is looking forward to take on board 1,200 clerical staff.

For the current fiscal, banks focus would be on lending to SME, retail, and agricultural sector.

"We have no appetite for power and steel, and we are selective on lending to the textile sector," added Mr Chawla.

Quality of assets has been issue for the entire banking sector, and the bank plans to improve it. Major focus would be on recovery of assets, and has set a target of Rs. 500 crore during the first quarter.


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

 Select a product:

Recurring deposits: to the benefit of the...
Fixed Deposits: Safest instrument to invest
Fixed deposits in India: Benefits,...
Carnival of Indian Personal Finance Blogs...
ICICI Bank’s recurring deposit scheme

NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...
If I invest 100000 rupees deposit for 2 year , how...

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