Allahabad Bank, one of the leading nationalized banks in the country celebrating 144 years of service to the nation, has reported 83 per cent decline in net profit at Rs 41.68 crore for the quarter ended September 30, 2008 compared with Rs 239.78 crore in the corresponding period last year.

For the said quarter, the total income of the bank grew to Rs 1,977.19 crore from Rs 1,664.29 crore in the corresponding period year-ago.

During the year from Sept., 2007 to Sept, 2008, the public sector lender has opened 53 more branches throughout the country taking the total number of branches to 2187 of which 988 (45%) are Rural, 416 (19%) Semi-urban, 462 ( 21%) Urban and 321 ( 15%) in Metropolitan cities.