Allahabad Bank renews its agreement with MCS

Allahabad Bank has renewed the existing agreement with MCS for rendering services as Bank’s Registrar and Share Transfer Agent (RTA) for a further period of one year, effective from May 01, 2014.

MCS is the only Company in the Registrar to Issue and Share Transfer Agent business who is listed with The Bombay Stock Exchange and has been providing services to both the Public and Private Sectors. As one of the oldest business houses with a history spanning over 25 years MCS has carried out numerous Initial Public Offers and provides specialized services to the Capital Market.

The bank has 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 has 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.