Asia/India/Jharkhand/Ranchi/Allahabad Bank/

Allahabad Bank

Location & Contact Information
- Address, Directions, & Map
  - Main Road, Hinoo, Ranchi, Jharkhand, India
- GPS Coordinates
- Telephone Numbers: 0651-2501370
- Official Website
Overview & Photographs

On April 24, 1865, a group of Europeans founded the bank at Allahabad, making it the oldest Joint Stock bank in India. ^[1]
In 1920, P&O Bank bought Allahabad Bank. ^[1]
In 1923 the bank moved its headquarters to Calcutta. ^[1]
In 1927, Chartered Bank of India, Australia and China acquired and amalgamated P&O Bank. ^[1]

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. ^[1]
In October, 1989 Allahabad Bank acquired United Industrial Bank. ^[1]
In October, 2002, the bank came out with Initial Public Offer (IPO), which reduced the Government's shareholding to 71.16%. ^[1]
A second public offering in April, 2005, further reduced the Government shareholding to 55.23%. ^[1]
In June, 2006, the bank opened a representative office at Shenzen, China, its first office outside India. ^[1]
In February, 2007, Allahabad Bank opened its first overseas branch, in Hong Kong. ^[1]