Allahabad Bank: Difference between revisions

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Allahabad Bank, which began operations in 1865, now has its head-quarters in Kolkata. Currently the bank has 2165 branches ^[1] across the country. The Chairman and Managing Director of the bank is K R Kamath. The bank's internet banking is maintained by EBankWorks Team of TCS.

History

Nineteenth Century

The Oldest Joint Stock Bank of the Country, Allahabad Bank was founded on April 24, 1865 by a group of Europeans at Allahabad. At that juncture Organized Industry, Trade and Banking started taking shape in India. Thus, the History of the Bank spread over three Centuries - Nineteenth, Twentieth and Twenty-First. April 24, 1865's The Bank was founded at the confluence city of Allahabad by a group of Europeans.

1890's

Twentieth Century

===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.

Twenty-First Century

  ===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.

References

^ Allahabad Bank's Branch Network

External links

Official web site

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[1] Allahabad Bank's Branch Network

[1]

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 ==History==
+===Nineteenth Century===
+The Oldest Joint Stock Bank of the Country, Allahabad Bank was founded on April 24, 1865 by a group of Europeans at Allahabad. At that juncture Organized Industry, Trade and Banking started taking shape in India. Thus, the History of the Bank spread over three Centuries - Nineteenth, Twentieth and Twenty-First.
+April 24, 1865's The Bank was founded at the confluence city of Allahabad by a group of Europeans.
+'s
+===Twentieth Century===
+ ===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.
+==Twenty-First Century==
+   ===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.
-*On April 24, 1865, a group of Europeans founded the bank at Allahabad, making it the oldest Joint Stock bank in India.
-*In 1920, [[P&O Bank]] bought Allahabad Bank.
-*In 1923 the bank moved its headquarters to Calcutta.
-*In 1927, [[Chartered Bank of India, Australia and China]] acquired and amalgamated P&O Bank. However, Chartered Bank continued to operate Allahabad Bank as a separate entity.
-*On July 19, 1969, the Government of India nationalized Allahabad Bank, together with 13 other banks.
-*In October, 1989 Allahabad Bank acquired United Industrial Bank.
-*In October, 2002, the bank came out with Initial Public Offer (IPO), which reduced the Government's shareholding to 71.16%.
-*A second public offering in April, 2005, further reduced the Government shareholding to 55.23%.
-*In June, 2006, the bank opened a representative office at Shenzen, China, its first office outside India.
-*In February, 2007, Allahabad Bank opened its first overseas branch, in Hong Kong.
 ==See also==