Allahabad Bank, a Kolkata-based PSU bank, expects to achieve total business of over Rs 6,000 crore in the Orissa circle by the end of 2011-12. If achieved, this would mark growth of 27.65 per cent over Rs 4,700 recorded in 2010-11.
The bank has already crossed Rs 5,300 crore this fiscal in terms of total business by the end of September, registering growth of 56 per cent over the corresponding period of previous fiscal, Parthadeb Datta, zonal head (Bhubaneswar), Allahabad Bank told mediapersons here.
The bank's deposits in the state grew by 58 per cent to Rs 3,296 crore by September from Rs 2,085 crore during in the year-ago period. Similarly, the bank’s advances in the said period rose by around 20 per cent to Rs 2,021 crore compared to Rs 1,697 crore.
The bank has achieved a Credit Deposit (CD) ratio of 65 in the Orissa circle, claimed Datta.
For providing round the clock service to the customers, the PSU bank is planning to open 30 more ATMs across the state shortly.
The bank also intends to open six more branches by the end of this fiscal over and above its network of 74 branches in the state, said Datta.
On a pan-India basis, Allahabad Bank clocked growth of 21.09 per cent at Rs 488 crore in the April-September period as against Rs 403 crore during the corresponding period of last fiscal.