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ALLAHABAD BANK FOR CAPITAL INFUSION
June, 11th 2010

Allahabad Bank on Thursday sought Rs 1,000 crore from the government for capital infusion. We have asked for Rs 1,000 crore from the government.

Since the government holding is at 55.23 percent, there is no further scope for equity dilution, Allahabad Bank chairman & managing director JP Dua told shareholders at the eighth AGM.

Dua said the bank also has headroom to raise Rs 2,612 crore as tier I and tier II capital. The bank, he said, is aiming to grow in all verticals in which it is doing business.

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