Public sector lender, Allahabad Bank has set target of achieving 22-25% growth rate this fiscal. The bank aims to attain a total business of Rs 220,000 crore in this financial year, said J. P. Dua, Chairman and Managing Director.

Dua also said that the bank would mainly concentrate on improving its CASA ratio and also focus on lending activities to sectors like infrastructure, SME (small and medium enterprises) and retail.

Southern stretch of the Indian subcontinent would be targeted by the bank with Tamill Nadu being the prime target. The bank had added 15 branches in Tamil Nadu in the last two years and had a total branch network of 50 in the State.

The bank has 2,318 branches across India. It plans to foray into China, Hong Kong and Bangladesh.

The first quarter of this fiscal has seen the bank posting total income of Rs 2,701.68 crore against Rs. 2,377.70 crore.

The net profit has risen by 14.6 per cent to Rs. 347.14 crore from Rs. 302.86 crore in the year-ago period.