On 17 May 2017Allahabad 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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