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Allahabad Bank Declines 3% As RBI Puts Bank Under PCA Framework

Share price of Allahabad Bank slipped nearly 3 percent intraday Thursday as RBI has put the company under the Pca Framework.

Reserve Bank of India (RBI) has placed the bank under prompt corrective action (PCA) framework, consequent to the onsite inspection under the risk based supervision model carried out for the year ended March 2017, and the report issued thereof, company said in release.

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The RBI inspection has revealed high net NPA and negative ROA for two consecutive years.

This action will contribute to the overall improvement in risk management, asset quality, profitability, efficiency, etc of the bank.
Recently, the bank had successfully raised additional tier I capital of bank through private placement of AT 1 perpetual bonds series IV aggregating to Rs 500 crore at an annual coupon of 10% per annum.

At 10:03 hrs Allahabad Bank was quoting at Rs 71.05, down Rs 1.30, or 1.80 percent on the BSE.

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Allahabad Bank Declines 3% As RBI Puts Bank Under PCA Framework

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