Allahabad Bank

This article relies on references to primary sources or sources affiliated with the subject, rather than references from independent authors and third-party publications. Please add citations from reliable sources. (October 2011)

Allahabad Bank

Type	Public
Traded as	BSE: 532480, NSE: ALBK
Industry	Banking Financial services Investment services
Founded	1865
Headquarters	Allahabad Bank, Head Office, 2, N. S. ROAD, Kolkata- 700 001. India
Key people	J. P. Dua (Chairman & MD)
Products	Finance and insurance Consumer banking Corporate banking
Website	http://www.allahabadbank.com

Allahabad Bank (Hindi: इलाहाबाद बैंक), NSE: ALBK, BSE: 532480 which began operations in 1865, has its head-quarters in Kolkata is the oldest joint stock bank in India. The bank was founded in the historical city Allahabad in 1865 and now the bank has crossed 2500 branches on 31th march 2012.^[1]The Chairman and Managing Director of the bank is Shri J. P. Dua. The bank has a branch in Hong Kong and a representative office in Shenzen.

History

19th Century

On 24 April 1865: A group of Europeans at Allahabad founded Allahabad Bank. Allahabad Bank is therefore now the oldest joint stock bank in India.

20th Century

In 1920, P & O Banking Corporation acquired Allahabad Bank with a bid price of Rs.436 per share. Then in 1927 Chartered Bank of India, Australia and China acquired P&O Bank. However, Chartered Bank continued to operate Allahabad Bank as a separate entity.

On 19 July 1969, the Government nationalized Allahabad Bank, together with 13 other banks.

In October 1989, Allahabad Bank acquired United Industrial Bank, a Calcutta-based bank that had been established in 1940. Two years alter, Allahabad Bank established AllBank Finance Ltd, a wholly owned Merchant Banking subsidiary.

21st Century

The government's ownership of Allahabad Bank was reduced in October 2002 when the bank engaged in an Initial Public Offering (IPO) of 10 crores of shares, each with a face value Rs.10. The IPO reduced the Government's shareholding to 71.16%. Then in April 2005 the bank conducted a second public offering of 10 crores of shares, each with a face value Rs.10 and selling at a premium of Rs.72. This offering reduced the Government's ownership to 55.23%.

In June 2006 the bank opened its first office outside India when it opened a representative office in Shenzen, China. In February 2007, Allahabad Bank opened its first overseas branch, in Hong Kong. In March, the bank's business crossed Rs.1,00,000 crores mark.

See also

• Indian banking and supporter of state bank of India
• List of banks in India
• Chartered Bank of India, Australia and China

References

1. ^ [1]

External links

• Official web site
• Allahabad Bank Detail
• Allahabad Bank on IndianBanks.org
• IFSC/MICR Code List - ALLAHABAD BANK (ALB) IFSC code, MICR code number, address list of all branches
• http://zeebal.com/allahabad-bank-po-and-clerical-post-recruitment-2011-12-allahabadbank-com.html
• Allahabad Bank IFSC Codes
• Allahabad Bank Branch Location - Allahabad Bank IFSC code, MICR code , address list of all branches
• Allahabad Bank ATM Locations
• Allahabad Bank IFSC Code
• 'Swift Code of Allahabad Bank Branches

v t e Banking in India Central bank Reserve Bank of India Nationalised banks Allahabad Bank Andhra Bank Bank of Baroda Bank of India Bank of Maharashtra Canara Bank Central Bank of India Corporation Bank Dena Bank IDBI Bank Indian Bank Indian Overseas Bank Oriental Bank of Commerce Punjab & Sind Bank Punjab National Bank Syndicate Bank UCO Bank Union Bank of India United Bank of India Vijaya Bank State Bank of India State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of Indore State Bank of Mysore State Bank of Patiala State Bank of Travancore State Bank of Saurashtra Private banks Axis Bank Catholic Syrian Bank Dhanalakshmi Bank South Indian Bank City Union Bank Federal Bank HDFC Bank ICICI Bank IndusInd Bank ING Vysya Bank Jammu & Kashmir Bank Karnataka Bank Limited Karur Vysya Bank Kotak Mahindra Bank Lakshmi Vilas Bank Saraswat Bank Tamilnad Mercantile Bank Limited Yes Bank Development Credit Bank Foreign banks ABN AMRO Abu Dhabi Commercial Bank Antwerp Diamond Bank Bank International Indonesia Bank of America Bank of Bahrain and Kuwait Bank of Ceylon Bank of Nova Scotia The Bank of Tokyo-Mitsubishi UFJ Barclays Bank Citibank India Credit Suisse HSBC Standard Chartered Deutsche Bank Royal Bank of Scotland Regional Rural banks North Malabar Gramin Bank South Malabar Gramin Bank Vananchal Gramin Bank Financial Services Real Time Gross Settlement (RTGS) National Electronic Fund Transfer (NEFT) Structured Financial Messaging System (SFMS) CashTree Cashnet Automated Teller Machine (ATM) De-Materialisation (DEMAT) Foreign Exchange (FOREX)

This article about an Indian company is a stub. You can help Wikipedia by expanding it. v t e

This Asian bank-related article is a stub. You can help Wikipedia by expanding it. v t e