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Allahabad Bank
BSE Announcements on Allahabad Bank
Posted by :
MMB MessengerTracked by: 0 Boarder
Allahabad Bank has informed BSE that a meeting of the Board of Directors of the Bank will be held on October 18, 2008, to consider and approve the Un-audited Financial results of the Bank for the quarter and half year ended on September 30, 2008 (Q2)....
safest stock in present market
Posted by :
piyushbajpai1Tracked by: 0 Boarder
yes i also agree one of the cheapest stock in the market in terms of valuation and it had nil exposer in foreign derivatives so no mtm for this bank . ...
In reply to:
safest stock in present market
Posted by :
EMCEE
Manika
Well said:unfortunately simple truths few people seem to understand 
safest stock in present market
Posted by : EMCEETracked by: 0 Boarder
Manika
Well said:unfortunately simple truths few people seem to understand...
In reply to:
safest stock in present market
Posted by : manika123
this is only best PSU stock available in the market at such a low PE ration / high book value and eps / with high dividened .Wait for 1 year this stock will cross 150 rs and this is safest stock in this type of mkt at present .3 years back its ipo price was 82 rs and now available at around 62 rs .keep on accumulatin for 2 years you will get a good return .This is best managed psu bank sofar.
safest stock in present market
Posted by : manika123Tracked by: 0 Boarder
this is only best PSU stock available in the market at such a low PE ration / high book value and eps / with high dividened .Wait for 1 year this stock will cross 150 rs and this is safest stock in this type of mkt at present .3 years back its ipo price was 82 rs and now available at around 62 rs .keep on accumulatin for 2 years you will get a good return .This is best managed psu bank sofar....
Allahabad Bank shelves rights issue
Posted by : manika123Tracked by: 0 Boarder
this is only best PSU stock available in the market at such a low PE ration / high book value and eps / with high dividened .Wait for 1 year this stock will cross 150 rs and this is safest stock in this type of mkt at present .3 years back its ipo price was 82 rs and now available at around 62 rs .keep on accumulatin for 2 years you will get a good return .This is best managed psu bank sofar....
In reply to:
Allahabad Bank shelves rights issue
Posted by : latikav
KOLKATA: Allahabad Bank has put its rights issue on the backburner.
The board of directors had in June okayed a Rs 149 crore rights issue, a move that would have allowed the bank to raise capital without diluting the government`s holding.
The government holds 55% in the bank, very close to the minimum 51% it is mandated to hold in public sector banks.
Now, however, the bank has decided to put the issue on ice.
K R Kamath, chairman and MD, said: "Only SBI has been allowed the rights issue. We are not too clear about our case. And in any case, we are not keen on diluting government holding at this juncture."
The bank also believes it`s headroom -- Rs 2,500 crore -- is enough to maintain a capital adequacy ratio at 11% over the next two years. Kamath said: "Our CAR is at 11.68% keeping Basel II in mind." He added the bank would raise requisite capital as and when needed.
Meanwhile, the bank is targeting a credit growth of about 20% this fiscal. On the deposit side, overall core deposits, excluding bulk deposits, have been growing at 18%.
Meanwhile, Universal Sompo General Insurance will hit the market with its entire gamut of cover products from November. It is gunning for a premium of Rs 400 crore in three years.
The insurer hopes to rake in 60% of its business from the motor and health portfolio, keeping in mind the massive discounting and drop in premiums witnessed in the fire and engineering segments.
On Friday, the company signed a distribution agreement with Allahabad Bank for distribution of its products from the bank’s branches.
Allahabad Bank is a stakeholder in Universal Sompo, a JV that also includes Indian Overseas Bank, Karnataka Bank, Dabur Investments and Sompo Japan Insurance.
While the Japan-based Sompo holds 26% — the maximum allowed for foreign players — Allahabad Bank has a 30% stake. Indian Overseas Bank and Karnataka Bank have 19% and 15% respectively, and Dabur Investments holds the balance 10%.
O N Singh, chairman, Universal Sompo said, “We are aiming at a total premium of Rs 50 crore by the close of the fiscal. In three years, we would be ending at Rs 400 crore.”
A capital of Rs 238 crore would be sufficient to carry on business for 5-6 years, he added.
A late entrant, it is betting on bancassurance — its partner banks have a network of around 4,000 branches — to hawk policies. “We have three banking partners and globally, both loss and claim ratio from bancassurance happens to be the lowest,” Singh said.
The company plans to launch a bouquet of 30 products.
DNA...........
Allahabad Bank shelves rights issue
Posted by : latikavTracked by: 0 Boarder
KOLKATA: Allahabad Bank has put its rights issue on the backburner.
The board of directors had in June okayed a Rs 149 crore rights issue, a move that would have allowed the bank to raise capital without diluting the government`s holding.
The government holds 55% in the bank, very close to the minimum 51% it is mandated to hold in public sector banks.
Now, however, the bank has decided to put the issue on ice.
K R Kamath, chairman and MD, said: "Only SBI has been allowed the rights issue. We are not too clear about our case. And in any case, we are not keen on diluting government holding at this juncture."
The bank also believes it`s headroom -- Rs 2,500 crore -- is enough to maintain a capital adequacy ratio at 11% over the next two years. Kamath said: "Our CAR is at 11.68% keeping Basel II in mind." He added the bank would raise requisite capital as and when needed.
Meanwhile, the bank is targeting a credit growth of about 20% this fiscal. On the deposit side, overall core deposits, excluding bulk deposits, have been growing at 18%.
Meanwhile, Universal Sompo General Insurance will hit the market with its entire gamut of cover products from November. It is gunning for a premium of Rs 400 crore in three years.
The insurer hopes to rake in 60% of its business from the motor and health portfolio, keeping in mind the massive discounting and drop in premiums witnessed in the fire and engineering segments.
On Friday, the company signed a distribution agreement with Allahabad Bank for distribution of its products from the bank’s branches.
Allahabad Bank is a stakeholder in Universal Sompo, a JV that also includes Indian Overseas Bank, Karnataka Bank, Dabur Investments and Sompo Japan Insurance.
While the Japan-based Sompo holds 26% — the maximum allowed for foreign players — Allahabad Bank has a 30% stake. Indian Overseas Bank and Karnataka Bank have 19% and 15% respectively, and Dabur Investments holds the balance 10%.
O N Singh, chairman, Universal Sompo said, “We are aiming at a total premium of Rs 50 crore by the close of the fiscal. In three years, we would be ending at Rs 400 crore.”
A capital of Rs 238 crore would be sufficient to carry on business for 5-6 years, he added.
A late entrant, it is betting on bancassurance — its partner banks have a network of around 4,000 branches — to hawk policies. “We have three banking partners and globally, both loss and claim ratio from bancassurance happens to be the lowest,” Singh said.
The company plans to launch a bouquet of 30 products.
DNA..............
NSE Announcements on Allahabad Bank
Posted by : sambalaTracked by: 0 Boarder
Allahabad Bank in pact with Universal Sompo
KOLKATA: Allahabad Bank on Friday signed a distribution agreement with Universal Sompo General Insurance Co. Ltd (USGICL) for selling its insurance products from November 1.
USGICL was floated as a joint venture by Allahabad Bank by entering into an agreement with Sompo General Insurance of Japan, along with other Indian partners like Indian Overseas Bank, Karnataka Bank and Dabur Investment Corporation.
Allahabad bank holds the single largest share of 30 per cent.
While defining the roadmap of the company for the next five years, O. N. Singh, Executive Chairman, USGICL, said Allahabad Bank would be able to provide good products to its customers while earning fee-based income through sharing of commissions.
...
In reply to:
NSE Announcements on Allahabad Bank
Posted by : MMB Messenger
Allahabad Bank has informed the Exchange vide its letter dated October 03, 2008 that "On date Bank has entered in to corporate agency arrangement with Universal Sompo General Insurance Co. Ltd. for providing general insurance products to the customers of the Bank w.e.f. 1st November, 2008. It is worth mentioning here that the existing tie up with National Insurance Company Ltd for distribution of general insurance products through our branches would be terminated w.e.f. 31st October, 2008".
Allahabad Bank eyes 20 per cent loan growth
Posted by : latikavTracked by: 0 Boarder
KOLKATA: The city-based public sector Allahabad Bank is targeting a growth of 20 per cent in its loan portfolio and 17 per cent in deposit this f
iscal, a top company official said here Friday.
"We are looking at 20 per cent loan growth and 17 per cent deposit growth. The loan growth will be sourced from small and medium enterprises, steel, cement and commercial real estate sectors," the bank`s chairman and managing director K.R. Kamath told reporters at a press meet.
The bank plans to maintain the net interest margin at 2.75 per cent and the capital adequacy ratio at 11 per cent during the current fiscal, he said.
Though the bank has headroom of Rs.25 billion, it does not plan to raise any capital now, Kamath said.
He also ruled out a rights issue, saying: "We are not keen on diluting holdings right now."
The bank will now remain focused on national operations, Kamath said, adding: "Looking at the current volatile international market situation we will remain cautious of any international operations."
Kamath said his bank was targeting a premium income of Rs.4 billion annually from general insurance business set up in partnership with other banks and financial institutions, after three years.
The partnership business, Universal Sompo General Insurance Co (USGICL), is a joint venture company between Allahabad Bank, Indian Overseas Bank, and private sector players Karnataka Bank, Dabur Investment Corp and Sompo Japan Insurance Inc.
This insurance company was soft-launched initially with two products, Fire and Aapat Suraksha, in February.
At present, it has a premium income of Rs.12.5 million, he said. The company got approval for 30 products from Insurance Regulatory and Development Authority (IRDA) and will start launching these products shortly.
Allahabad Bank Friday signed distribution agreement with USGICL for distribution of the joint venture`s general insurance products to its customers from Nov 1. "Bancassurance will be our major thrust area," Kamath said.
ET..........
NSE Announcements on Allahabad Bank
Posted by : MMB MessengerTracked by: 0 Boarder
Allahabad Bank has informed the Exchange vide its letter dated October 03, 2008 that "On date Bank has entered in to corporate agency arrangement with Universal Sompo General Insurance Co. Ltd. for providing general insurance products to the customers of the Bank w.e.f. 1st November, 2008. It is worth mentioning here that the existing tie up with National Insurance Company Ltd for distribution of general insurance products through our branches would be terminated w.e.f. 31st October, 2008"....
BSE Announcements on Allahabad Bank
Posted by : MMB MessengerTracked by: 0 Boarder
Allahabad Bank has informed BSE that on October 03, 2008 Bank has entered in to corporate agency arrangement with Universal Sompo General Insurance Co. Ltd for providing general insurance products to the customers of the Bank w.e.f. November 01, 2008.
It is worth mentioning here that the existing tie up with National Insurance Company Ltd for distribution of general insurance products through the Banks branches would be terminated w.e.f. October 31, 2008....
Good to buy at about 62
Posted by : piyushbajpai1Tracked by: 0 Boarder
if Allahabad Bank closes above 64 then it will show some strength and can go upto 72 ....
In reply to:
Good to buy at about 62
Posted by : Guest
This stock is good to buy at 62. Below that it can be dangerous.
Is it worth shorting at this level. I don't have any shares of Allahabad bank. Can naked short be done in this?
Good to buy at about 62
Posted by : GuestTracked by: 0 Boarder
This stock is good to buy at 62. Below that it can be dangerous.
Is it worth shorting at this level. I don't have any shares of Allahabad bank. Can naked short be done in this?...
Which is better
Posted by : IlhanTracked by: 0 Boarder
I too have the same opinion but did u see the latest movemnet. Syndicate bank is 65.95 and Allahabad bank is 65.20. But this was not the case a few weeks back. Allahabad bank used to be higher than Syndicate bank. Do u feel that one should shift to syndicate bank or remain in Allahabad bank for the near term.
...
In reply to:
Which is better
Posted by : EMCEE
Allhabad Bank by all acoounts: EPS,BOOK VALUE etc.. Allahabad Bank should enjoy atleast 30-40% premium over Syndicate Bank by valautions
Which is better
Posted by : EMCEETracked by: 0 Boarder
Allhabad Bank by all acoounts: EPS,BOOK VALUE etc.. Allahabad Bank should enjoy atleast 30-40% premium over Syndicate Bank by valautions
...
In reply to:
Which is better
Posted by : Ilhan
Between Allahabad bank and Syndicate bank which is a better to be invested in
Which is better
Posted by : IlhanTracked by: 0 Boarder
Between Allahabad bank and Syndicate bank which is a better to be invested in ...
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