Date:05/01/2005 URL: http://www.thehindubusinessline.com/2005/01/05/stories/2005010501690600.htm

Back New biz model for Allbank Finance

Our Bureau

Kolkata, Jan. 4

ALLAHABAD Bank will soon choose a business model for its newly-revived subsidiary, Allbank Finance.

Presentations have been already made by consultants on the matter.

The bank, Mr O.N. Singh, CMD, said, hoped to kick-start merchant banking activities through Allbank Finance. There are also proposals for offering project appraisal, loan syndication and distribution services.

"We decided to retain Rs 60 crore equity in the company. The idea is to turn it into a self-reliant outfit, one that is able to conduct business profitably," he told newspersons. — Our Bureau