Allahabad Bank - Q3FY14 Result First-Cut - Microsec

Allahabad Bank Ltd. announced its Q3FY14 result on 27th January 2014.

The Bank's total income decreased by 6.24% QoQ while, increased by 12.51% YoY to INR1879.96 crores, driven by 59.18% YoY growth in its other income. Whereas, Profit After Tax (PAT) increased by 17.97% QoQ and 4.67% YoY to INR325.36 crores. During the quarter, the Bank has decreased its Provision by 24.96% QoQ to INR556.91 crores, which has helped it to improve its bottom line on QoQ basis.

The Bank's loans book and total deposits expanded by 12.86% and 9.86% YoY to INR137300 and INR187478 crores respectively. On the asset quality front, the Bank's asset quality is still the matter of concern. Gross NPA and Net NPA increased by 53 and 36bps QoQ to 5.47% and 4.19% respectively. However, the Bank has maintained its Net Interest Margin (NIM) on QoQ basis to 2.75%. Capital Adequacy Ratio (CAR) and Provision Coverage Ratio (PCR) stood at 10.46% and 43.93% respectively.

Source : Equity Bulls

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