PSBs trade weak despite expectation of several banks coming out of RBI's PCA framework

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

25 Feb 2019 Evaluate

Public sector banks (PSBs) stocks were trading mostly in red despite finance ministry expects three to four more lenders to come out of weak bank list of the Reserve Bank of India in the next six to eight months

Allahabad Bank is currently trading at Rs. 45.55, down by 0.25 points or 0.55% from its previous closing of Rs. 45.80 on the BSE. The scrip opened at Rs. 45.80 and has touched a high and low of Rs. 45.85 and Rs. 45.00 respectively. So far 171571 shares were traded on the counter.

Corporation Bank is currently trading at Rs. 29.75, down by 0.50 points or 1.65% from its previous closing of Rs. 30.25 on the BSE. The scrip opened at Rs. 30.25 and has touched a high and low of Rs. 30.55 and Rs. 29.50 respectively. So far 40470 shares were traded on the counter.

United Bank of India is currently trading at Rs. 10.61, down by 0.17 points or 1.58% from its previous closing of Rs. 10.78 on the BSE. The scrip opened at Rs. 10.80 and has touched a high and low of Rs. 10.85 and Rs. 10.60 respectively. So far 8806 shares were traded on the counter.

The finance ministry expects three to four more lenders to come out of weak bank list of the Reserve Bank of India (RBI) in the next six to eight months on account of improvement in financial health amid capital infusion and falling bad loans.

The recent capital infusion of Rs 48,239 crore in 12 public sector banks (PSBs) will help Corporation Bank and Allahabad Bank to come out of the Prompt Corrective Action (PCA) framework in the next few weeks.

Corporation Bank is the biggest beneficiary of this round of capital infusion with Rs 9,086 crore of funding, followed by Allahabad Bank with Rs 6,896 crore. This infusion will help these two lenders meet requisite capital thresholds of 7.375 CET-1 ratio, 8.875 per cent Tier I ratio, 10.875 per cent of capital-to-risk weighted assets ratio (CRAR) and the net NPA ratio threshold of below 6 per cent.

Allaha.Bank-Amalgama Share Price

15.15 0.00 (0.00%)

19-Mar-2020 18:01 View Price Chart

Peers

Company Name	CMP
State Bank Of India	1030.05
PNB	105.70
Bank Of Baroda	248.20
Canara Bank	126.45
Union Bank Of India	172.40
View more..

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