Allahabad Bank

UP electricity boards keep up the reputation, like others, of not paying up and this has led to Allahabad Bank restructuring assets of UP Electricity Board at Rs 2,500 crore. Another Rs.600 crore was that of other electricity boards. Total assets restructured were to the tune of Rs.4770 crore in Q1Fy13. In current Q2 too, it plans to restructure Rs.700-800 crore. In terms of recoveries, it was at Rs.404 crore in current Q1 compared to Rs.260 crore in Q1Fy12. Total deposits ,YoY rose 17.22% and total advances rose 11.87%.

In terms of operational performance, net profit for the quarter was up 23% (YoY) at Rs.514 crore. NII rose 11.09% at Rs.1306 crore and NIM was at 3.17%, down from 3.48% in previous quarter. Gross NPA to Gross Advances was at 1.96%, up from 1.83% (QoQ) while Net NPA was at 1.09%, up sharply from 0.98%. Its provision coverage Ratio was at 73.57%, up from 74% in Q4Fy12 but down from 79.90% in Q1FY12. CAR was at 12.94%, up from 12.83%. Its yields on advances rose from 12.09% to 12.49% (QoQ). RoA was at 1.14%, up from 1.02%. Bookvalue stands at Rs.203.66.