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Allahabad Bank plans to hire 1,100 people in FY15

27 Jun 2014 Evaluate

Allahabad Bank is looking to hire 1,100 people during the current fiscal. Of total, 600-odd recruitments would be made at the officer level, while the remaining 500 would be clerical staff.

Meanwhile, the bank has obtained clearances from the Reserve Bank of India for a qualified institutional placement of Rs 320 crore. Moreover, the bank is awaiting clearances from the Finance Ministry with respect to QIP. The bank had obtained shareholders’ approval in December 2013.

The bank has also sought a capital infusion to the tune of about Rs 1,100 crore from the Centre for this fiscal.

The bank posted a rise of 25.05% in its net profit at Rs 157.75 crore for the quarter ended March 31, 2014 as compared to Rs 126.15 crore for the same quarter in the previous year.  Total income of the bank increased by 9.65% at Rs 5237.68 crore for quarter under review as compared to Rs 4776.90 crore for the quarter ended March 31, 2013.

 

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