Allahabad Bank
Encyclopedia
Allahabad Bank , which began operations in 1865, has its head-quarters in Kolkata
. Currently the bank has 2500 branches across the country. The Chairman and Managing Director of the bank is Shri J. P. Dua. The bank has a branch in Hong Kong
and a representative office in Shenzen.
Kolkata
Kolkata , formerly known as Calcutta, is the capital of the Indian state of West Bengal. Located on the east bank of the Hooghly River, it was the commercial capital of East India...
. Currently the bank has 2500 branches across the country. The Chairman and Managing Director of the bank is Shri J. P. Dua. The bank has a branch in Hong Kong
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
and a representative office in Shenzen.
19th Century
- 24 April 1865: A group of Europeans at Allahabad founded Allahabad Bank. Allahabad Bank is therefore now the oldest joint stock bank in India.
20th Century
- 1920: P & O Banking CorporationP&O BankIn 1920 James Mackay, later the Earl of Inchcape, of the Peninsular and Oriental Steam Navigation Company, established the P&O Banking Corporation to develop the shipping company's private banking business. In the same year, Lloyds Bank and National Provincial Bank took shares in P&O Bank, which in...
acquired Allahabad Bank with a bid price of Rs.436 per share. - 1927: Chartered Bank of India, Australia and ChinaChartered Bank of India, Australia and ChinaThe Chartered Bank of India, Australia and China was a bank founded in London in 1851/1853 by Scotsman James Wilson following the grant of a Royal Charter from Queen Victoria. It opened its first branches in 1858 in Calcutta and Bombay and then in 1863 in Karachi and Shanghai...
acquired P&O Bank. However, Chartered Bank continued to operate Allahabad Bank as a separate entity. - 19 July 1969: The Government nationalized Allahabad Bank, together with 13 other banks.
- October 1989: Allahabad Bank acquired United Industrial Bank, a Calcutta-based bank that had been established in 1940.
- 1991: The Bank established AllBank Finance Ltd, a wholly owned Merchant BankMerchant bankA merchant bank is a financial institution which provides capital to companies in the form of share ownership instead of loans. A merchant bank also provides advisory on corporate matters to the firms they lend to....
ing subsidiary.
21st Century
- October 2002: Bank came out with an Initial Public OfferingInitial public offeringAn initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
(IPO) of 10 crores of shares, each with a face value Rs.10 each. The IPO reduced the Government's shareholding to 71.16%. - April 2005: Bank conducted a second public offering of 10 crores of shares, each with a face value Rs.10 and selling at a premium of Rs.72. This offering reduced the Government's ownership to 55.23%.
- June 2006:Bank opened its first office outside India when it opened a representative office in Shenzen, China.
- February 2007: Bank opened its first overseas branch, in Hong Kong.
- March 2007: Bank's business crossed Rs.1,00,000 crores mark.
External links
- Official web site
- Allahabad Bank Detail
- Allahabad Bank on IndianBanks.org
- IFSC/MICR Code List - ALLAHABAD BANK (ALB) IFSC code, MICR code number, address list of all branches
- http://zeebal.com/allahabad-bank-po-and-clerical-post-recruitment-2011-12-allahabadbank-com.html
- Allahabad Bank IFSC Codes
- Bank Branch Location - Allahabad Bank IFSC code, MICR code , address list of all branches
- Allahabad Bank ATM Locations
- 'Swift Code of Allahabad Bank Branches