Allahabad Bank has successfully raised Basel III compliant Tier 2 Bonds aggregating to Rs 1,000.00 crore through private placement at an annual coupon of 8.15% per annum. The said Tier 2 Bonds are eligible for inclusion in Tier 2 Capital of Bank.
The Bank has reported 63.28% fall in its net profit at Rs 65.03 crore for second quarter ended September 30, 2016 as compared to Rs 177.10 crore for the same quarter in the previous year. Total income of the Bank decreased by 4.99% at Rs 5051.61 crore for the quarter under review from Rs 5317.06 crore for the corresponding quarter previous year.
The Bank’s gross NPA for the July- September quarter of the current fiscal increased to 12.28%, as compared to 5.26% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 8.59% in Q2FY17.
