Allahabad Bank profit up 20%

Public sector lender, Allahabad Bank, on Friday reported a 20.45 per cent increase in net profit to Rs 418.13 crore in the first quarter of the present financial year, against Rs 347 .14 crore in the same period last year.

Backed by higher yield on advances, the bank reported a net interest margin of 3.40 per cent in the last quarter, against 3.10 per cent in the same period last year.

Source: Business Standard