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allahabad bank (ALBK) Details

Allahabad Bank provides retail banking, corporate/wholesale banking, and treasury services in India and internationally. It offers recurring deposits, current accounts, fixed deposits, savings bank deposits, deposit schemes for children, and tax benefit term deposit schemes. The company’s credit products consist of housing loans, furnishing loans, trade loans, property loans, rent loans, home appliances finance schemes, education loans, reverse mortgage schemes, commercial and personal vehicle finance, loans for employees, gold loans, and overdraft facilities, as well as loans against NSC or KVP; and personal loans for pensioners, and doctors and medical practitioners. In addition, it provides cash management services, pension schemes, depository services, bancassurance/mutual fund and insurance products, inward money transfer services, settlement services for deceased depositors, real time gross settlement services, national electronic fund transfer, debit and ATM cards, and MSME banking services, as well as application supported by blocked amount facility. Further, the company offers corporate advisory, project appraisal, issue management, loan syndication, and debenture and trusteeship underwriting services. It operates approximately 2840 branches in India and 1 branch in Hong Kong. Allahabad Bank was founded in 1865 and is headquartered in Kolkata, India.

24,569 Employees
Last Reported Date: 05/17/14
Founded in 1865

allahabad bank (ALBK) Top Compensated Officers

Chairman, Managing Director, Chairman of Risk...
Total Annual Compensation: 48.7K
Executive Director, Member of Share Issue & A...
Total Annual Compensation: 148.9K
Compensation as of Fiscal Year 2014.

allahabad bank (ALBK) Key Developments

Allahabad Bank Raises BASEL III Compliant Tier 2 Through Private Placement

Allahabad Bank has announced that the Bank has successfully raised BASEL III Compliant Tier 2 Bonds aggregating to INR 5,000 million through Private Placement.

Allahabad Bank, Board Meeting, Dec 22, 2014

Allahabad Bank, Board Meeting, Dec 22, 2014. Agenda: To discuss and approve in principle the raising of capital of the Bank through preferential/QIP issue in compliance with the applicable laws, rules and regulations, Govt. of India Guidelines and in such a manner that the equity shareholding of the Govt. of India shall not go below 52%.

Government To Divest Stake In State-Owned Banks

The government of India is planning to reduce its stake in state-owned banks. Arun Jaitley, Finance Minister of India, said in the Parliament that the government is looking to reduce its stake in state-owned banks to 52% in a phased manner." Jaitley said in written reply in the Rajya Sabha, "A proposal for allowing public sector banks (PSBs) to raise capital from public market by diluting Government of India holding up to 52% in phased manner is under consideration." There is as yet no timeline on when the centre will divest stakes in these banks. The government is planning to reduce 6.9% stake in Allahabad Bank (BSE:532480), 8.14% stake in Andhra Bank (BSE:532418), 4.26% stake in Bank of Baroda (BSE:532134), 14.7% stake in Bank of India (BSE:532149), 27.8% stake in Bank of Maharashtra (BSE:532525), 17% stake in Canara Bank Limited (BSE:532483), 32.2% stake in Central Bank of India (BSE:532885), 11.33% stake in Corporation Bank (BSE:532179), 6% stake in Dena Bank Ltd. (BSE:532121), 29.51% stake in Indian Bank (BSE:532814), 21.8% stake in Indian Overseas Bank (BSE:532388), 7.13% stake in Oriental Bank of Commerce (BSE:500315), 6.87% stake in Punjab National Bank (BSE:532461), 27.62% stake in Punjab and Sind Bank (BSE:533295), 15.39% stake in Syndicate Bank Limited (BSE:532276), 8.47% stake in Union Bank of India (BSE:532477), 26.92% stake in United Bank of India (BSE:533171), 25.2% stake in UCO Bank (BSE:532505), 22.06% stake in Vijaya Bank Ltd. (BSE:532401), 24.5% stake in IDBI Bank Limited (BSE:500116), 6.6% stake in State Bank of India (BSE:500112), 23.07% stake in State Bank of Bikaner & Jaipur (BSE:501061), 38% stake in State Bank of Mysore (BSE:532200), and 26.91% stake in State Bank of Travancore (BSE:532191).


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Indian Bank 185.75 INR 0.00
Indian Overseas Bank 56.90 INR 0.00
Oriental Bank of Commerce 265.65 INR 0.00
Syndicate Bank 117.15 INR 0.00
UCO Bank 75.30 INR 0.00
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