Allahabad Bank has reported results for the fourth quarter and year ended March 31, 2016.
The bank has posted a net loss of Rs 581.13 crore for the quarter ended March 31, 2016 as compared to a net profit of Rs 202.63 crore for the same quarter in the previous year. Total income of the bank has decreased by 6.29% at Rs 5051.38 crore for quarter under review as compared to Rs 5390.71 crore for the quarter ended March 31, 2015.
For the year ended March 31, 2016, the bank has posted a net loss of Rs 743.31 crore as compared to a net profit of Rs 620.90 crore for the same period in the previous year. Total income of bank decreased 4.22% at Rs 20795.07 crore for year under review as compared to Rs 21712.13 crore for the period ended March 31, 2015.
For the year ended March 31, 2016, on the consolidated basis, the bank has posted a net loss of Rs 719.84 crore as compared to a net profit of Rs 649.02 crore for the same period in the previous year. Total income of bank has decreased by 4.04% at Rs 21006.81 crore for year under review as compared to Rs 21891.53 crore for the period ended March 31, 2015.
