Allahabad Bank history, company profile (overview) and history video
Allahabad Bank was a nationalized commercial bank headquartered in Kolkata, India. The bank provided treasury and banking and financial services.
HISTORY
Allahabad Bank was founded in 1865 in the confluence city of Allahabad by a group of Europeans.
In the 1920s, the Bank became a part of P & O Banking Corporation’s group
In 1969, the Bank was nationalized by the government of India along with 13 other banks.
In 1989, Allahabad Bank merged with United Industrial Bank Ltd.
In 1991, AllBank Finance Ltd., a wholly owned subsidiary for Merchant Banking, was established.
In 2002, the Bank came out with Initial Public Offer (IPO).
In 2020, Allahabad Bank merged with Indian Bank to create one of India’s largest public sector banks.
With more than 22,000 employees and over 3,000 branches across India, Allahabad Bank was considered one of the Largest Public Companies in the World, according to Forbes.
*Information from Forbes.com, Wikipedia.org, and www.indianbank.in.
**Video published on YouTube by “Arko Sen“