Allahabad Bank cuts rate on retail deposits by 0.15%

The new rates will be applicable from November 10, 2014, the bank said in a filing to the BSE.

Public sector lender Allahabad Bank  today cut by 0.15 percent the rate of interest on retail term deposits maturing in 1-5 years.

The new rates will be applicable from November 10, 2014, the bank said in a filing to the BSE.

"The Bank has decided to revise the interest rate downward by 0.15 percent per annum i.e. from existing 9.05 percent per annum to 8.90 percent per annum on domestic retail term deposits scheme with maturity period of one year to less than five years," it said.

Shares of Allahabad Bank today closed at Rs 116.15 per piece on the BSE, down 1.44 per cent from the previous close.

Allahabad Bank stock price

On November 05, 2014, Allahabad Bank closed at Rs 116.15, down Rs 1.7, or 1.44 percent. The 52-week high of the share was Rs 150.00 and the 52-week low was Rs 72.45.

The company's trailing 12-month (TTM) EPS was at Rs 13.54 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 8.58. The latest book value of the company is Rs 216.68 per share. At current value, the price-to-book value of the company is 0.54.

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