Chairperson and Managing Director of Allahabad Bank, J. P. Dua has reported that the total business of bank at the Q1 has increased by 26.36% at Rs 2.32 lakh crore. During the first quarter of FY12, the net profit of Allahabad Bank has increased by 20.45% at Rs 418.13 crore as compared to Rs 347 crore in the same period of the previous fiscal year.

It was reported that the Net interest margin (NIM) of the bank during the first quarter was marked for about 3.40% as compared to 3.10% in the previous first quarter and the recovery of NIM for the first quarter was Rs 250 crore.

“Axis Bank, numbers have been pretty fine actually, they have reported about I think 25% or 27% rise in net profit in the first quarter and I think Axis Bank will be exhibiting strong momentum in growth, we see that continuing actually and I think going forward the number should be pretty well as per market expectation,” says Rajen Shah.

He added that HDFC has made a profit of Rs 5300 crore in this year and the current market capital is around Rs 1,17,000 crore, which is about 23-25 times the earnings.