Allahabad Bank pays Rs 136-cr dividend to Govt

 Source : B L Bureau:Kolkata, September 13,2010

Allahabad Bank paid about Rs 136 crore as dividend for the financial year 2009-10 to the Union Government. The Union Government holds 55.23 per cent stake in the bank at present. The bank had declared a dividend of Rs 5.50 /share

The dividend cheque was handed over to the Union Finance Minister, Mr Pranab Mukherjee, by the bank's Chairman and Managing Director, Mr J.P. Dua, along with the Executive Directors, Mr D. Sarkar and Mr M.R. Nayak on Monday, according to a press statement issued by the bank.

Allahabad Bank's total business grew by about 22 per cent during the first quarter of fiscal 2010-11 at Rs 1,84,039 crore. Deposits grew by 21 per cent while advances by 24 per cent, Mr Dua said.