Comments
The Centre has raised its holding in Allahabad Bank to 58 per cent, up from the present 55 per cent, through a capital infusion of Rs 670 crore.
The fund infusion, cleared by the bank's board of directors at an extraordinary general meeting here on Wednesday, was through preferential allotment. Allahabad Bank issued 2,95,15,418 equity shares of Rs 10 each at a premium of Rs 217 each.
The earlier plan of the Centre was to raise the stake to 56.48 per cent through a capital infusion of Rs 292 crore.
During the quarter ending December 31, 2010, the bank's business crossed Rs 2 lakh crore while its operating profit rose by 21.27 per cent to Rs 788.43 crore. The net profit touched Rs.415.80 crore.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.