Allahabad Bank

Allahabad Bank,(Bengali:এলাহবাদ ব্যন্ক) which began operations in 1865, now has its head-quarters in Kolkata. Currently the bank has 2260 branches ^[1] across the country. The Chairman and Managing Director of the bank is K R Kamath. The bank's internet banking is maintained by EBankWorks Team of TCS.

History

http://www.allahabadbank.com/about_us.asp

• On April 24, 1865, a group of Europeans founded the bank at Allahabad, making it the oldest Joint Stock bank in India.
• In 1920, P&O Bank bought Allahabad Bank.
• In 1923 the bank moved its headquarters to Calcutta.
• In 1927, Chartered Bank of India, Australia and China acquired and amalgamated P&O Bank. However, Chartered Bank continued to operate Allahabad Bank as a separate entity.
• On July 19, 1969, the Government of India nationalized Allahabad Bank, together with 13 other banks.
• In October, 1989 Allahabad Bank acquired United Industrial Bank.
• In October, 2002, the bank came out with Initial Public Offer (IPO), which reduced the Government's shareholding to 71%.
• A second public offering in April, 2005, further reduced the Government shareholding to 55%.
• In June, 2006, the bank opened a representative office at Shenzen, China, its first office outside India.
• In February, 2007, Allahabad Bank opened its first overseas branch, in Hong Kong.

See also

• Indian banking

References

1. ^ [1]

External links

• Official web site

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