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allahabad bank (ALBK) Snapshot

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allahabad bank (ALBK) Details

Allahabad Bank provides retail banking, corporate/wholesale banking, and treasury services in India and Hong Kong. The company offers various deposit products, including saving and current accounts, term and flexi-fix deposits, recurring deposit accounts, salary accounts, deposit schemes for children, and tax benefit term deposit schemes. It also provides various credit products, such as housing and furnishing loans, car loans, commercial vehicle and home appliances finance schemes, trade and property loans, rent and education loans, two-wheeler and gold loans, reverse mortgage schemes, loans for employees, and overdraft facilities, as well as loans against national savings certificate/kisan vikas patra; and personal loans for pensioners and doctors. In addition, the company offers cash management services, pension schemes, depository services, bancassurance/mutual fund and insurance products, inward money transfer services, settlement services for deceased depositors, real time gross settlement services, national electronic fund transfer services, debit and ATM cards, and MSME banking services, as well as application supported by blocked amount facility. Further it provides credit products to agriculture and other sectors, and micro and small enterprises; schemes to finance exporters for the purchase of showroom/place in the export mart; and deposit accounts, remittance facility, export finance, and loans, as well as resident foreign currency accounts to nonresident Indians. Additionally, the company offers corporate advisory, project appraisal, issue management, loan syndication, debenture trusteeship, and underwriting services. It operates approximately 3107 branches in India and 1 branch in Hong Kong. Allahabad Bank was founded in 1865 and is headquartered in Kolkata, India.

24,231 Employees
Last Reported Date: 05/29/15
Founded in 1865

allahabad bank (ALBK) Top Compensated Officers

Chairman, Managing Director, Chairman of Risk...
Total Annual Compensation: 906.0K
Executive Director, Member of Share Issue & A...
Total Annual Compensation: 780.0K
Executive Director, Member of Share Issue & A...
Total Annual Compensation: 41.9K
Compensation as of Fiscal Year 2015.

allahabad bank (ALBK) Key Developments

Allahabad Bank Plans To Raise Funds

Public sector lender Allahabad Bank(BSE: 532480) has sought a capital infusion of INR 10 billion from the Centre for the current financial year, Chairman & Managing Director Rakesh Sethi said on June 26, 2015. Separately, the lender may also raise up to INR 15 billion through bonds to boost its capital adequacy. "We have made a representation (to the finance ministry) for a capital support of INR 10 billion for 2015-16," said Sethi during the bank's 13th annual general meeting. “In addition to the capital support, we have plans to raise another INR 5 billion under Tier-II Basel-II-compliance bonds. The bank may also raise up to INR 10 billion tier-I capital through bonds, provided it is available at a reasonable cost i.e. in the range of 10-11%”, said Sethi.

Allahabad Bank, Annual General Meeting, Jun 26, 2015

Allahabad Bank, Annual General Meeting, Jun 26, 2015., at 10:30 Indian Standard Time. Location: Bhasha Bhawan Auditorium. Agenda: To discuss, approve and adopt the balance sheet, profit & loss account of the bank as at and for the year ended 31 March, 2015, the report of the board of directors on the working and activities of the Bank for the period covered by the accounts and the auditors' report on the balance sheet and accounts; and to declare dividend on equity shares.

Allahabad Bank Recommends Dividend for the Financial Year 2014-15

Allahabad Bank announced that the Board of Directors of bank at its meeting held on May 8, 2015, recommended a dividend of INR 1.63 per share that is at a rate of 16.30% of paid up capital of bank for the financial year 2014-15.

 

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ALBK Competitors

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Company Last Change
Indian Bank 139.60 INR 0.00
Indian Overseas Bank 37.40 INR 0.00
Oriental Bank of Commerce 180.95 INR 0.00
Syndicate Bank 100.90 INR 0.00
UCO Bank 53.25 INR 0.00
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Industry Analysis

ALBK

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Valuation ALBK Industry Range
Price/Earnings 5.0x
Price/Sales -- Not Meaningful
Price/Book -- Not Meaningful
Price/Cash Flow 5.3x
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