Public sector lender Allahabad Bank on Thursday said it has targeted a business growth of 21.39 per cent, and a business level of around Rs.3,300 billion by end of the current fiscal.

"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," declared Allahabad Bank chairman and managing director J.P. Dua at the bank's 10th Annual General Meeting here.

Dua said the focused approach towards enhanced customer service, network expansion and new products resulted in substantial increase in the bank's total business by 20.04 per cent to reach the level of Rs.2,718.43 billion during the last financial year.

The bank has planned to open 250 branches and 1,000 ATMs during the current fiscal.

Dua said the bank planned to open more overseas branches to increase its international presence.

"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," he added.



Source: EconomicTimes