The Allahabad Bank on Wednesday said it has sanctioned Rs 1,003 crore in loans to 8,289 micro, small and medium enterprises (MSME) through a mega camp organised Monday.

"The bank organised a mega camp for MSME loans on Monday. Through the said camp, MSME loans aggregating Rs 1,003 crore were sanctioned to 8,289 beneficiaries, which included Rs 55.42 crore (1,794 beneficiaries) under Pradhan Mantri Mudra Yojana (MUDRA) and Rs 35.04 crore (160 beneficiaries) under Stand-Up India Scheme," the bank said in a statement.

We offer competitive rate of interest for MSME and retail loans, the bank claimed.

It added that more than 5 million new customers were added during the last one year.

Total outstanding of the bank under retail credit as on December 31, 2017 stood at Rs 19,849 crore registering a year-on-year growth of 20.50 per cent from Rs 16,473 crore year-ago.

The bank posted a net loss of Rs 1,263.79 crore in the third quarter of 2017-18 due to higher provisions made for aging NPAs (non-performing assets) and NCLT (National Company Law Tribunal) referred accounts and also losses incurred in treasury operations during the quarter.