Board of Allahabad Bank approves capital raising fund
On 17 May 2017
Allahabad Bank announced that the Board of Directors of the Bank on 17 May 2017 has approved the capital raising plan of bank as under -Raising of equity capital of Bank aggregating up to Rs 2000 crore (including premium) through various modes.
Raising of Additional Tier I capital of Bank aggregating up to Rs 2000 crore and Tier 2 capital of Bank aggregating up to Rs 1000 crore during FY 2017-18.
The Board of Directors of the Bank has not recommended any dividend for financial year 2016-17.
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