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."

The banking institution is anticipating 25-26 per cent credit growth for existing financial year (2010-11).

Regarding its fund raising plans, Mr. Nayak also said that the bank may lift up around Rs 1,000 crore of debt by March 2011.

Allahabad Bank's CAR stood at 13.65%.

"We are quite comfortable with our capital position and might not need to raise funds immediately. However, if credit offtake picks up, then we might consider raising about Rs 1,000 crore," Mr. Nayak added.

Recently, it bagged nod from its directors for lifting up debt capital instruments in the form of Innovative Perpetual Debt Instrument (Tier-I capital), and subordinated debts (Tier-II capital) worth Rs 1,400 crore in the subsisting fiscal.

At 10:23 a. m., the stock of the bank stood at Rs 227.20, down 0.4%, on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 232.50 and a low of Rs 106 on BSE.

Current EPS & P/E ratio stood at 31.04 and 7.31 respectively.