Allahabad Bank To Focus On Expansion Drive - Sep 22, 2008

Allahabad Bank, according to its Chairman and Managing Director, Mr K.R. Kamath, suggested to concentrate on the expansion of client base and enlargement of resources base. Mr Kamath giving a view of the financial performance of the Kolkata Metropolitan area of the bank, Mr Ashok Dutt, General Manager and zonal head of Kolkata Metro Zone, said the zone''s profit increased by 20.02 per cent for the quarter ended June 30, 2008, compared with the corresponding quarter of last year. Deposits for the zone grew at Rs 7,010.60 crore as on June 30, 2008, up from Rs 6,900.51 crore as on March 31, 2008. Low-cost current account and savings account deposits increased by about 41 per cent during the quarter and gross credit by 6.21 per cent