|This article relies on references to primary sources. (October 2011)|
|Traded as||BSE: 532480,
|Industry||Banking, Financial services|
|Founded||1865 in Allahabad|
|Number of locations||2,500 branches (2012)|
|Key people||Shubhalakshmi Panse (Chairman and MD)|
|Revenue||189.13 billion (US$3.1 billion) (2013)|
|Operating income||33.85 billion (US$550 million) (2013)|
|Net income||11.85 billion (US$190 million) (2013)|
|Total equity||5 billion (US$82 million) (2013)|
|Employees||22,557 (March 2013)|
As of 31 March 2012, it had over 2,500 branches across India. The bank did a total business of INR 3.1 trillion during the FY 2012-13. The bank has a branch in Hong Kong and a representative office in Shenzen.
In the early 20th century, with the start of Swadeshi movement, Allahabad Bank witnessed a spurt in deposits. In 1920, P & O Banking Corporation acquired Allahabad Bank with a bid price of 436 (US$7.10) per share. In 1923 the bank moved its head office and the registered office to Calcutta for reasons of both operational convenience and business opportunities. 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 nationalised 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 later, Allahabad Bank established AllBank Finance Ltd, a wholly owned Merchant Banking subsidiary.
The government's ownership of Allahabad Bank shrank in October 2002 after the bank engaged in an Initial Public Offering (IPO) of 100 million (US$1.6 million) of shares, each with a face value 10. The IPO reduced the Government's shareholding to 71.16%. Then in April 2005 the bank conducted a second public offering of 100 million of shares, each with a face value 10 and selling at a premium of 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, Mainland China. In February 2007, Allahabad Bank opened its first overseas branch, in Hong Kong. In March, the bank's business crossed the 10 million million mark.
|Shareholders (as on 31-Dec-2013)||Shareholding|
|Promoter Group (Government of India)||58.90%|
|Foreign Institutional Investors (FII)||08.74%|
|Banks/Financial Institutions/Mutual Funds/UTI||04.86%|
As om 31 March 2013, the bank had 22,557 employees, out of which 3,293 were women (15%). Out of the total employees, 51% were officers, 30% were clerks and remaining 19% were subordinate staff. The bank recruited 1,950 employees (1,421 Officers, 390 Clerks and 139 subordinate staff) during the same financial year. The company incurred INR 20 billion on employee benefit expenses during the same financial year.
Employee productivity: During the FY 2012-13, the business per employee was INR 13.73 crores and it earned a net profit of INR 5.25 lakhs per employee.
- Official website
- IFSC Codes, SWIFT codes and MICR numbers of Allahabad Bank branches
- ATM finder for Allahabad Bank