Allahabad Bank - Q2FY13 Result First-Cut - Microsec

Allahabad Bank has announced its Q2FY13 result on 5th November 2012.

The bank's total income decreased by 8.60% QoQ and 9.28% YoY to INR1476.43 crores. It is mainly because of 10.92% and 2.28% YoY de-growth in its Net Interest Income (NII) and Other Income respectively. Whereas, Profit After Tax (PAT) decreased by 54.44% QoQ and 52.01% YoY to INR234.20 crores.

During the quarter, Bank's loans book and total deposits expanded by 15.81% and 14.02% YoY to INR110847.37 and INR161957.03 crores respectively. On the assets quality front, bank asset quality is still the matter of concern. GNPA and NNPA increased by 99 and 101bps QoQ and 118 and 141bps YoY to 2.95% and 2.10% respectively. On the margin front, Net Interest Margin (NIM) decreased by 37bps QoQ and 88bps YoY to 2.80%. Moreover, Provision Coverage Ratio (PCR) unsatisfactorily stood at 60.80%. However, Capital Adequacy Raito (CAR) is 316bps or 3.16% higher than the regulator stipulated norm.

Source : Equity Bulls

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