Public sector lender Allahabad Bank Limited has posted a phenomenal increase in net profit for the full financial year FY11 (ending Mar 2011). During the said period, net profit rises 17.18% to Rs 1439.5 crore in comparison to the Rs 1228.6 crore of full financial year FY10 (ending Mar 2010) of previous year. Allahabad Bank is one of the leading nationalized bank in India. Established on 1865 in Allahabad by a group of European. Currently it offers a whole range of financial services to thousands of customers across the nation through its 2260 branches, besides its Internet banking services. Allahabad Bank has its headquarter located in Kolkata.
The bank informed the share market(BSE) that the net income increased 25.42% to Rs 12472 crore in the full financial year FY11 (ending Mar 2011) when compared with the last years same period of full financial year FY10 (ending Mar 2010) of previous year which was Rs 9944 crore.
The bank has recommended a dividend of 60 per cent or Rs 6 per share for the year 2010-11.
Share’s Data :-
BSE Code : 532480
Market Cap : Rs 9,664.48 Crores
Allahabad Bank Ltd. share’s CMP is Rs 202.95 on 6th May 2010.
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