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e-Allahabad Bank Journey

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.

( Last modified on Sep 21, 2020 at 12:09:52 PM )