Allahabad Bank is aiming to return in the black in coming quarter on the back of tight recovery mechanism and arrest of fresh slippages. The Bank has dedicated verticals in place to ensure recovery of around Rs 2,000 crore per quarter. The bank also expects break even during Q1FY20 and thereafter to post net profits consistently.
Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.