Jul 20 - 26, 1996Although complete results for the Allied Bank were not yet available at our going to press, a look at some select figures showed that they maintained their steady post-privatization growth pattern. Deposits of the fourth largest domestic bank in the country rose more than 21% over the last year from Rs 47.7 billion to Rs 57.8 billion, and by 13% in the last six months.
Advances too, grew by just over 22% year-on-year, from Rs 27.8 billion to Rs 33.9 billion, and by 15% since January 1996. They also stepped up their recovery of defaulted loans and recovered Rs 512 million in the half-year ended June 30, 1996. The Bank quoted a 107.3% growth in net profits from Rs 204 million end June 1995 to Rs 423 million end June 1996. Pre-tax profits for the year ended December 31, 1995 were at Rs 531 million, 20% higher than Rs 423 million; therefore, if the term "net profit" refers to pre-tax profit for the period, then the last six months have seen a 20% fall.