It is a broadly described annual report of Allahabad Bank in the year of 2016. During the financial year, The Total business of the Bank increased to Rs. 358,352 Crore as on 31st March 2016 as against Rs. 346,519 Crore in the previous year, registering a Y-o-Y growth of 3.41%. Operating profit stood at Rs. 4134 Crore as on 31st March 2016. The Bank posted a net loss of Rs. 743.31 Crore in FY16 due to the higher provision that increased by 27.05% during the year. The paid-up capital of the Bank has increased to Rs. 613.80 Crore and shareholding of the Govt. of India (GOI) stood at 61.38% as on 31st March 2016. The reserves and surplus went up to Rs. 13,450.23 Crore as on 31st March 2016 from Rs. 12,071.40 Crore as on 31st March 2015.
The Board of Directors of the bank has not recommended any dividend for the financial year 2016.
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