Allahabad Bank rises on opening 40 Centralised Retail Banking Boutiques

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

16 Sep 2013 Evaluate

Allahabad Bank is currently trading at Rs. 82.20, up by 1.90 points or 2.37% from its previous closing of Rs. 80.30 on the BSE.

The scrip opened at Rs. 81.60 and has touched a high and low of Rs. 82.65 and Rs. 80.90 respectively. So far 1,19,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 190.80 on 18-Jan-2013 and a 52 week low of Rs. 64.90 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 81.20 and Rs. 69.50 respectively. The current market cap of the company is Rs. 4,110.00 crore.

The promoters holding in the company stood at 55.24% while Institutions and Non-Institutions held 30.10% and 14.66% respectively.

Allahabad Bank, the public sector lender, has opened up 40 Centralised Retail Banking Boutiques (CRBBs) across the country. The bank has taken this step in order to quicken the various processes from mobilization to quick process of appraising & sanction of retail loans within a specified time frame. The above 40 CRBBs are in addition to the 59 boutiques that the bank already owns which allow faster processing, appraisal and sanction of retail loans.

The bank has also taken steps to speed up sanction of housing loans within six working days and car (vehicle) loans within 48 hours. Besides, financing of commercial vehicles to transport operators will be done through its All Bank Fleet Finance Scheme, wherein loans above Rs 2 crore are sanctioned.

Further, the bank has also entered into a tie-up with automobile manufacturers such as Piaggio Vehicles, Tata Motors, Ashok Leyland, Hindustan Motors, Bajaj Auto and Force Motors for financing their vehicles.

Allaha.Bank-Amalgama Share Price

15.15 0.00 (0.00%)

19-Mar-2020 18:01 View Price Chart

Peers

Company Name	CMP
SBI	1019.55
PNB	107.20
Canara Bank	134.35
Bank Of Baroda	264.05
Union Bank Of India	166.15
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