Allahabad Bank
Acquisition in 2021
Allahabad Bank, established on April 24, 1865, is a nationalized commercial bank headquartered in Kolkata, India. It was the oldest joint stock bank in the country, providing a wide range of banking products and services both domestically and internationally. The bank operated through four main segments: Treasury Operations, Corporate/Wholesale Banking, Retail Banking, and Other Banking Business. It offered various deposit products, including savings and current accounts, term deposits, and recurring deposits. Additionally, Allahabad Bank provided diverse loan options such as housing loans, vehicle loans, education loans, and commercial financing, alongside agriculture and small business loans. The bank also facilitated international banking services, cash management, and insurance products. With approximately 3,229 branches in India and one branch in Hong Kong, along with 836 ATMs, Allahabad Bank played a significant role in the Indian banking sector until its acquisition by Indian Bank in March 2020.