e-Allahabad Bank Journey

Faith of centuries evolving into the trust of generations…

• April 24, 1865’s
  The Bank was founded at the confluence city of Allahabad by a group of Europeans.
• 1920’s
  The Bank became a part of P & O Banking Corporation’s group with a bid price of Rs..436 per share
• 1923
  The Head Office of the Bank shifted to Calcutta on Business considerations.
• July 19, 1969
  Nationalized along with 13 other banks, Branches – 151 Deposits – Rs.119 crores, Advances – Rs.82 crores.
• October, 1989
  United Industrial Bank Ltd. merged with Allahabad Bank.
• 1991
  Instituted AllBank Finance Ltd., a wholly owned subsidiary for Merchant Banking.
• October, 2002
  The Bank came out with Initial Public Offer (IPO), of 10 crores share of face value Rs.10 each, reducing Government shareholding to 71.16%.
• April, 2005
  Follow on Public Offer (FPO) of 10 crores equity shares of face value Rs.10 each with a premium of Rs.72, reducing Government shareholding to 55.23%.
• June, 2006
  The Bank Transcended beyond the National Boundary, opening Representative Office at Shenzen, China.
• Oct, 2006
  Rolled out first Branch under CBS.
• February, 2007
  The Bank opened its first overseas branch at Hong Kong.
• March 2007
  Bank’s business crossed Rs.1,00,000 crores mark.
• March, 2010
  Bank crosses Business figure of Rs.1,75,000/- crore with a growth rate of 23.06%
• March, 2011
  Bank has implemented CBS in all its Branches
• March, 2012
  Bank crosses its net work of 2500 branches.
• March, 2013
  Bank crosses bench mark business figure Rs.3,00,000/- crore and enters in “Orbit of Large Banks”
• April, 2014
  Bank celebrates 150 years of foundation.
• April, 2020
  Bank amalgamated into Indian Bank.