Allahabad Bank

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CH-2 COMPANY PROFILE

Allahabad Bank is an India-based bank. The Banks products include deposit products, which
include Flexi-Fix Deposit, Rs. 5 Banking, All Bank Tax Benefit Term Deposit Scheme, All Bank
Premium SB Account, All Bank Mahila Sanchay Account, All Bank Vikash SB Account, All
Bank Premium Current Account, Current Plus Deposit Scheme and Sishu Mangal Deposit
Scheme; Retail credit products, which include housing loan, education loan, car loan, saral loan,
personal loan for pensioners, personal loan for doctors, Loan against NSC/KVP, All Bank rent
loan, All Bank property scheme, All furnishing loan, gold loan scheme, All Bank Mobike
Scheme, All Bank Abhushan Scheme and All Bank Trade Scheme, and other credit products,
including Kisan Credit Card, Kisan Shakti Yojana and All Bank-Expo. The Companys other
services include All Ayushman Bima Yojana, Cash Management Services, Depository Services,
real time gross settlement (RTGS), National Electronic Funds Transfer (NEFT) and online
payments.

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Vision and Mission

Vision:

To put the Bank on a higher growth path by building a Strong Customer-base through Talent
Management, induction of State-of-the-art Technology and through Structural Re-organization.
Mission:

To ensure anywhere and anytime banking for the customer with latest state-of-the-art
technology and by developing effective customer centric relationship and to emerge as a
world-class service provider through efficient utilization of Human Resources and
product innovation.

Mission
To ensure anywhere and anytime banking for the customer with latest state-of-the-art technology
and by developing effective customer centric relationship and to emerge as a world-class service
provider through efficient utilization of Human Resources and product innovation.

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History Of Organization

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.
1890's
Twentieth Century
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.
July 19, 1969 Nationalized along with 13 other banks, Branches - 151 Deposits - Rs.119
crores, Advances - Rs.82 crores.
October, 1989 United Industrial Bank Ltd. merged with Allahabad Bank.
1991 Instituted All Bank Finance Ltd., a wholly owned subsidiary for Merchant
Banking.

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Twenty-First Century

October, 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.
February, 2007 The Bank opened its first overseas branch at Hong Kong.
March 2007 Bank's business crossed Rs.1,00,000 crores mark.

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PROGRESS OF ALLAHABAD BANK

Allahabad Bank is one of the premier nationalized banks in India. It is also the oldest joint stock
bank of India. It was incorporated by a group of Europeans at Allahabad on April 24, 1865. It
was the time Indian economy had started shifting towards organized trade and business affairs.
After some years in 1920, the P&O Bank brought Allahabad Bank and its headquarters at
Kolkata. The Allahabad bank got an entirely new identity when it was nationalized in 1969 along
with 13 other banks in India. Since then the Allahabad Bank had a smooth journey towards
progress. Today it is one of the leading banks in India with a whooping business of over
Rs.1, 00,000 crores.

Branches and Business

Allahabad has adopted CBS (Core Banking Service) since 2006 and has developed 24 hours
connectivity with its 2165 branches across the length and breath of the country. In 143 years of it
existence the bank has come a long way by developing a wide grip over all the corners of India.
At present the Allahabad Bank has 44 Zonal Offices 6 Staff Training Colleges and 3 Staff
Training centers for imparting training centers in India.

Apart from general branches, the bank has also come up with specialized branches, like
Industrial Finance Branches, International Branches, Finance Branches, Recovery Branches, NRI
Branches Specialized Personal Banking Branches, Specialized Savings Bank Branches, Quick
Collection Service Branches, Trading Finance Branches and Service Branches in many major
cities of India.

The businesses of the bank are thriving successfully. In the end of March 2007, the Allahabad
Bank crosses a land mark of Rs.1, 00,000 crores. The bank's business also registered a 6.90%
growth during April-Sept 2007, when its business increased up to Rs.1, 08,458 crores from Rs.1,
6

01,458 crores in merely 5 months. On Year-on-Year basis, the business of the bank has grown at
a rate of 19.87%. The bank also registered an immense growth in total deposit record when its
business went up to Rs.65,896 at end of September 2007 crores from Rs.54,006 crore in
September 2006.

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MILESTONE OF ALLAHABAD BANK
Present Status
At present, the Bank has 2260 branches and 44 Zonal Offices, 6 Staff Training Colleges (
including one for technology) and 4 staff training centers for imparting training and upgradation
of knowledge base of human resources. A number of Banks branches and offices are housed in
the Banks owned premises situated at prime locations in major cities of the country.
2002
In 2002, the Bank came out with its first initial public offering of shares which resulted in the
reduction of the governments shareholding in the Bank and in 2005 the Bank came out with its
follow-on Public Offer of ten crore equity shares of Rs.10/- each at a price of Rs.82/- per share.
The issue was oversubscribed by more than 9 times reducing the Govt. shareholding to 55.23%
1989
United Industrial Bank Limited was amalgamated into Allahabad Bank.

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Products and Services

Deposit Products
Diamond Jubilee Deposit Scheme
Rs. 5 Banking
Gold Deposit
Flexi-fix Deposit
Retail Credit Products
All Bank Housing Finance Scheme
Personal Loan Scheme for Pensioners
All Bank Property Loan
All Bank Saral Loan Scheme
All Bank Educational Loan Scheme
Overdraft Facility in Savings Bank Account
Personal Loan Scheme for Doctors/ Medical Practitioners
Loan against NSC/ KVP
All Bank Mobike Scheme
All Bank Rent Loan
All Bank Gyan Dipika Scheme
All Bank Car Finance Scheme
All Bank Pilot Training Loan Scheme
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All Bank Furnishing Loan
All Bank Gold Loan Scheme
All Bank Reverse Mortgage Scheme
All Bank Abhusan Scheme
All Bank Trade Scheme
Other Credit Products
Kisan Credit Card
Kisan Shakti Yojana
All Bank-Expo
Services
All Ayushman Bima Yojana
Cash Management Services
Depository Services
Visa Cum Debit Card Services
Real Time Gross Settlement
National Electronic Funds Transfer
Gold Card Scheme For Exporters
Charter for MSME's
Government Business
Regional MSME care centres

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