Government to infuse Rs 320 crore in Allahabad Bank: Report

Allahabad Bank - (Amalgamated) | Bank - Public | BFSI | BSE: 532480 | NSE: ALBK

13 Feb 2015 Evaluate

Government of India (GoI) has reportedly decided to infuse capital funds to the tune of Rs 320 crore in the Allahabad Bank by way of preferential allotment of equity in favour of the GoI. The Bank is taking all necessary steps / approvals in this regard.

Allahabad Bank has registered a fall of 49.56% in its net profit at Rs 164.11 crore for third quarter ended December 31, 2014 as compared to Rs 325.36 crore for the same quarter in the previous year. However, total income of the bank increased marginally by 1.51% at Rs 5386.79 crore for Q3FY15 as compared Rs 5306.74 crore for the corresponding quarter previous year.

Peers

Company Name	CMP
State Bank Of India	978.50
PNB	117.05
Bank Of Baroda	234.55
Canara Bank	125.90
Union Bank Of India	179.25
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