Page 3 - Allahabad Bank

Allahabad Bank puts stake sale at Universal Sompo on the back-burner

At present, Allahabad Bank holds 28.52 per cent, while IOB holds 18.06 per cent stake in the company

Will establish IOB as bank focused on South India: MD and CEO Karnam Sekar

In a Q&A, the bank's chief also dwells the strategies to trim down the lender's non-performing assets

NextGen PSBs: Govt unveils mega bank mergers to revive economic growth

10 banks to be merged into 4; Indian Bank & Allahabad to be one

Government creates banking behemoths to boost India's flagging economy

News of the mergers comes minutes before official data is expected to confirm a fifth-straight quarter of slowing economic growth

Public sector banks gain on Rs 70,000-crore capital boost from govt

Bank of Baroda, PNB, Bank of India, Oriental Bank of Commerce, Central Bank of India, Allahabad Bank, Syndicate Bank, Union Bank of India, and Canara Bank were up 5% to 12% in intra-day trade

Public sector banks volunteer to link their lending rates to repo

Bank of India also cut its MCLR by 25 bps, while Bank of Maharashtra and IDBI Bank had lowered their rate by 10-15 bps on Thursday

Allahabad Bank reports Q1 net profit of Rs 128 cr on good credit growth

The gross NPA of the bank, as a percentage of its total lending, stood at 17.43 per cent in the last quarter

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Allahabad Bank tanks 15% after reporting Rs 1,775 cr fraud by Bhushan Power

The bank said it has already made provisions amounting to Rs 900.20 crore against the bank's exposure in BPSL

Allahabad Bank reports Rs 1,744-cr fraud by Bhushan Power & Steel to RBI

Allahabad Bank further said it has been observed that the company has misappropriated bank funds, and manipulated books of accounts to raise funds from consortium lender banks

Allahabad Bank might partially exit insurance venture Universal Sompo

Lender is seeking a fresh valuation of the company after it posted positive results in Q4FY19

Allahabad Bank aims at turnaround, hopes to return in black in this quarter

Kolkata-based lender Allahabad Bank had posted a loss of Rs 8,334 crore last fiscal

Allahabad Bank cuts lending rate by 5 bps, housing loans to get cheaper

Most of the loans including housing loans are benchmarked against MCLR for one year

Allahabad Bank Q4 loss widens to Rs 3,834 cr on higher NPA provisions

NPA provisions in Q4 at Rs 5,279 crore, against Rs 5,126 crore in the same period of the FY18; lender got out PCA framework in Feb

Delhi court summons ex-Allahabad Bank CMD Ananthasubramanian on RBI plaint

Court summon on RBI complaint against Ananthasubramanian, others for making false statements

Allahabad Bank looks to raise Rs 500 crore via non-core asset sale

The bank had recently invited bids for the property, but did not receive any as the reserve price was on a higher side at around Rs 220 crore

Allahabad Bank draws a road map to come out of PCA list by June

Allahabad Bank expects fresh capital infusion from the government by the end of this month or early next month

Allahabad Bank posts net loss of Rs 733 core in Q3; NPA rises to 18%

The bank will seek further capital infusion from the government by March 2019

Strain in bank's balance sheet likely to continue: Allahabad Bank CEO

We are looking to sell our non-core assets, and we are confident of realising some amount by March 2019

Allahabad Bank posts net loss of Rs 18.2 billion for September quarter

The bank has assessed a capital requirement of about Rs 18 bn to maintain capital adequacy according to Basel-III norms