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Allahabad Bank registers 
1.7 Bn profit
Tuesday, 06 May 2008, 17:43 IST
Kolkata: Allahabad Bank - one of the oldest joint stock banks in India that started operations in 1865 - posted a net profit of nearly 
1.7 billion for 2007-08 compared to 1.25 billion of the previous fiscal, according to bank officials.
"We have raised our profit by 34.81 percent in 2007-08," chairman and managing director A.C. Mahajan told reporters while presenting the financial report Saturday evening.
"The bank's earnings have rose by 29.94 percent to 974.75 crore (9.75 billion) from 750.14 crore (7.5 billion)," he said.
Mahajan said shareholders for 2007-08 would be given a dividend of 3 per share.
"In 2007-08 Allahabad Bank did a business of 121,928 crore (121.928 billion). Our business target for 2008-09 is 150,000 crore (150 billion)," Mahajan said.
Source: IANS
1.7 billion for 2007-08 compared to 1.25 billion of the previous fiscal, according to bank officials.
"We have raised our profit by 34.81 percent in 2007-08," chairman and managing director A.C. Mahajan told reporters while presenting the financial report Saturday evening.
"The bank's earnings have rose by 29.94 percent to 974.75 crore (9.75 billion) from 750.14 crore (7.5 billion)," he said.
Mahajan said shareholders for 2007-08 would be given a dividend of 3 per share.
"In 2007-08 Allahabad Bank did a business of 121,928 crore (121.928 billion). Our business target for 2008-09 is 150,000 crore (150 billion)," Mahajan said.
Source: IANS