Pics: Prajwal Ukkuda
Daijiworld Media Network - Mangalore (MM/CN)

Mangalore, Dec 20: Allahabad Bank, the oldest bank of the country, has been looking forward to strengthening its base in south India, said K R Kamath, chairman and managing director of the Bank.

Addressing media persons on Friday December 19, he said that the bank has a history of 143 years and has a strong hold in Uttar Pradesh with more than 700 branches. However, it has a weak presence in south India. Recently, the management decided to strengthen its base in south India also, he added.

The bank has a network of 2,230 branches all over India and has an offshore branch in Hong Kong besides a representative office in China with total business crossing Rs 125,000 crore as on September 30, 2008. The bank has deposits of Rs 73,500 crore and credits of Rs 51,500 crore. The bank earned a net profit of Rs 135 crore for the financial year ended March 31, 2008, said Kamath.

The bank has more than 110 branches in south India, which come under Chennai zone. Focusing on Karnataka and Kerala, the bank is planning on opening a zonal office in Bangalore, he said.

R K Jain, general manager, Chennai bureau, and Talukdar were present at the press meet.