Hong Kong Monetary Authority (HKMA) has enhanced the Supervisory arrangements on Allahabad Bank’s Hong Kong branch, while assessing the implications of the capital position of the Bank as on March 31, 2018 (CRAR-8.69%).
Accordingly, Allahabad Bank Hong Kong Branch (ALHBHK) should maintain high quality liquid asset in Hong Kong equivalent to 100% of unpledged deposits and the branch should not proactively solicit customer deposits in Hong Kong. Besides, ALHBHK should maintain a position of 'net due to' its Head Office, other branches and any direct or indirect subsidiaries and associates of the bank and it should not incur additional non-bank credit exposures.
Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.
