United Bank, Allahabad Bank to come up with ESOP Plans

United Bank, Allahabad Bank to come up with ESOP Plans

As a part of their funds raising plans, public sector United Bank and Allahabad Bank are to issue stock options for their employees that will make them their shareholders through the exercising of the employee stock option (ESOP).
The board of directors of United Bank has already given a nod to issuing 5 crore equity shares by way of ESOP.
However, the board of directors of the Allahabad Bank will hold a meeting on December 12 to discuss the specifics, although they have decided to match Union Bank’s number of equity shares, which is 5 crores.