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Our Bureau

Kolkata , March 13

Allahabad Bank's issue of eight per cent tier II bond amounting to Rs 400 crore hit the market today, with green shoe option of Rs 100 crore.

This issue, which has tenure of 120 months, opened and closed on Monday and stood fully subscribed for Rs 500 crore.

As on December 2005, Allahabad Bank's business grew by 22.77 per cent to Rs 72,346 crore from Rs 58,928 crore a year back.

The total working funds of the bank have crossed Rs 50,000 crore.

The bank's market share of deposits has increased from 2.25 per cent as on December 2004 to 2.26 per cent as on December 2005.

More Stories on : Public Sector Banks | Corporate Bonds

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