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.
The Bank became a part of P & O Banking Corporation’s group with a bid price of Rs..436 per share
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.
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.
( Last modified on Mar 29, 2023 at 04:03:10 PM )