Allahabad Bank, a Kolkata based bank, has opened its new branch at Kohima. With this, the bank now has six branches in the state of Nagaland. The bank is offering various benefits under financial inclusion plan of Government of India such as insurance coverage under PMSBY, PMJJBY and also pension scheme under APY for the mass people.The total business of Allahabad Bank in the state has crossed over Rs 580 crore as on December 31, 2015, with total number of branches under Dibrugarh Zone covering entire Upper Assam, Arunachal Pradesh and Nagaland increased to 40 with the opening of Kohima branch.
The bank has reported a net loss of Rs 486.14 crore for the quarter ended December 31, 2015 as compared to net profit of Rs 164.11 crore for the same quarter in the previous year. The bank’s total income has decreased by 6.62% to Rs 5030.19 crore for the quarter under review from Rs 5386.79 crore for the corresponding quarter of the previous year.
