Allahabad Bank reported a net profit of Rs 128 crore in Q1 June 2019 as compared to a net loss of Rs 1944.37 crore in Q1 June 2018.
Bank's gross non-performing assets (NPAs) stood at Rs 28,703.47 crore as on 30 June 2019 as against Rs 28,704.78 crore as on 31 March 2019 and Rs 25,067.55 crore as on 30 June 2018.
The ratio of gross NPAs to gross advances stood at 17.43% as on 30 June 2019 as against 17.55% as on 31 March 2019 and 15.97% as on 30 June 2018.
The ratio of net NPAs to net advances stood at 5.71% as on 30 June 2019 as against 5.22% as on 31 March 2019 and 7.32% as on 30 June 2018.
The provisions and contingencies declined 63.48% to Rs 1008.80 crore in Q1 June 2019 from Rs 2762.82 crore in Q1 June 2018. Provision coverage ratio of the bank was at 78.58% as on Q1 June 2019.
Bank's capital adequacy ratio (Basel III) rose to 12.55% in Q1 June 2019 from 6.88% in Q1 June 2018.
The Government of India holds 92.1% stake in Allahabad Bank as of 30 June 2019.
Allahabad Bank is a leading public sector commercial banks in India, offering banking products and services to corporate and commercial customers and retail customers.
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