Because of high loan demand, Allahabad Bank is eyeing a 27 per cent increase in its credit during the three month period ended September 30.

On the sidelines of a seminar conducted by FICCI, Executive Director M. R. Nayak stated, "For the full year we expect to post a 5 percent more growth in credit than what the banking industry is likely to achieve."

Allahabad Bank, one of the public sector banking institutions in the country, has inked an agreement with commercial vehicle manufacturing company Ashok Leyland for automobile financing.

According to company's declaration, this affiliation would help the bank's clients across India to buy medium and heavy commercial vehicles under the plan known as "Commercial Vehicle Finance Scheme".