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.

Twentieth Centuryy

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.

July19,1969 – Nationalized along with 13 other banks, Branches – 151 Deposits – Rs.119 crores, Advances – Rs.82 crores.

Oct,1989 – United Industrial Bank Ltd. merged with Allahabad Bank.

1991 – Instituted AllBank Finance Ltd., a wholly owned subsidiary for Merchant Banking.

Twenty-First Century

Oct,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.

Feb,2007 – The Bank opened its first overseas branch at Hong Kong

Mar,2007 – Bank’s business crossed Rs.1,00,000 crores mark