Page 4 - Allahabad Bank

Allahabad Bank tumbles 15% on weak Q2 results

The stock tanked 15 per cent to Rs 35.40, trading close to its 52-week low of Rs 33.25 touched on October 9, 2018, in the intra-day trade on the BSE.

Govt to infuse Rs 30.5 billion as fresh capital in Allahabad Bank

This is the govt's contribution in the preferential allotment of equity shares of the bank during the financial year 2018-19

Allahabad Bank hikes benchmark lending rate by 0.05% making loans costlier

The new rates would be effective from November 1

Allahabad Bank to raise about Rs 15 bn via disinvestment in non-core assets

The bank is also in the process of closing its Hong Kong branch, which would release some capital

Allahabad Bank posts Q1 net loss of Rs 19.44 bn due to high provisioning

Gross NPAs stood at Rs 250.67 bn at the end of June 2018, against Rs 210.32 bn in the year-ago period

Allahabad Bank Q1 net loss at Rs 19 bn on higher provisioning for bad loans

Net NPA ratio, however, improved to 7.32 per cent (Rs 104.1 billion) as against 8.96 per cent (Rs 128.68 billion)

Allahabad Bank likely to recover Rs 55 billion in FY19: N K Sahoo

The Bank is hopeful of raising close to Rs 5 billion from sale of non-core assets

Allahabad Bank branch in Hong Kong to face increased scrutiny from HKMA

Supervisory arrangements imposed by HKMA ask the branch to maintain a position of 'net due to' its head office, other branches and any direct or indirect subsidiaries and associates of the bank

PNB fraud: Allahabad Bank board divests CEO of functional powers

Ananthasubramanian was MD and CEO of PNB between 2015 and 2017, before moving to Allahabad Bank

Allahabad Bank divests its CEO Usha Ananthasubramanian of all powers

The Board of state-owned Allahabad Bank today divested its MD and CEO Usha Ananthasubramanian of all powers with immediate effect, following a directive from the finance ministry after she was named in the CBI's chargesheet in PNB fraud case. Ananthasubramanian, was the CMD of Punjab National Bank till May 2017. Yesterday, the finance ministry had asked the boards of Allahabad Bank and PNB to take action against Ananthasubramanian and two executive directors of PNB. The PNB had yesterday divested its two executive directors of all powers. "...the Board of Directors of the Bank in its meeting held on date has decided that Smt Usha Ananthasubramanian, MD & CEO be divested of all functional responsibilities of the Bank with immediate effect...," Allahabad Bank said in a regulatory filing. It further asked the government to make suitable arrangements for smooth functioning of the bank. The CBI yesterday filed its first chargesheet in the PNB fraud case detailing the roles of Nirav ..

RBI puts fresh lending restrictions on Allahabad Bank

Recently, the RBI not only debarred Dena Bank from extending fresh credit in view of the deteriorating financial health, but also debarred the lender from recruiting staff

Allahabad Bank's March quarter net loss at Rs 35.09 bn; revenue down 17%

The lender said its provisions for bad assets were at Rs 51.26 billion at the end of March 31, 2018 as against Rs 14.89 billion year-ago.

Allahabad Bank slashes lending rates by 45 bps to lower EMIs for borrowers

The revised rates are effective from April 2

Three directors of Allahabad Bank step down on cessation of terms

The bank will soon call and extra ordinary general meeting for appointment of new directors

Allahabad Bank aims to raise Rs 2.5-2.7 bn from staff share offer: MD & CEO

The bank is also planning to come out with a qualified institutional placement in the third week of March to raise around Rs 10 bn

RBI puts Allahabad Bank under prompt corrective action

The RBI inspection has revealed high net NPAs and negative ROA for two consecutive years

Allahabad Bank raises Rs 500 crore in debt to comply with Basel III norms

To comply with Basel-III Capital Regulations, banks need to improve and strengthen their capital planning processes

Allahabad Bank cuts one-year MCLR to 8.25% from 8.3%

New rates for overnight lending for 1-6 months and 1-3 years reduced by 0.05% each in the range of 7.75-8.5%

Allahabad Bank Board plans to raise up to Rs 2,000 crore

The Bank's proposed capital raising up to a ceiling of Rs 2,000 crore is inclusive of premium, according to a regulatory filing

Allahabad Bank gets shareholders' nod to raise Rs 2,000 cr in FY18

Allahabad Bank was looking to achieve a business growth of 12% in the current financial year