Public sector lender, Allahabad Bank has posted a 15% rise in net profits for the last quarter of the fiscal just ended. The growth in profits comes in a situation even when the bank has made higher provisions for NPAs and gratuity payment.

The bank booked profits figuring to Rs 258 crore in the last quarter. The operating profit of the bank has grown by 19% amounting to Rs 780 crore.

There has been a dip although not major in the gross NPAs of the bank to 1.74% as on end of March 2011.

At the end of the last fiscal, the bank had a capital adequacy ratio of 12.96%.