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Allahabad Bank, which began operations in 1865, now has its head-quarters in Kolkata. Currently the bank has 2165 branches [1] across the country. The Chairman and Managing Director of the bank is K R Kamath. The bank's internet banking is maintained by EBankWorks Team of TCS.
On April 24, 1865, a group of Europeans founded the bank at Allahabad, making it the oldest Joint Stock bank in India.
In 1920, P&O Bank bought Allahabad Bank.
In 1923 the bank moved its headquarters to Calcutta.
In 1927, Chartered Bank of India, Australia and China acquired and amalgamated P&O Bank. 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.
In October, 1989 Allahabad Bank acquired United Industrial Bank.
In October, 2002, the bank came out with Initial Public Offer (IPO), which reduced the Government's shareholding to 71.16%.
A second public offering in April, 2005, further reduced the Government shareholding to 55.23%.
In June, 2006, the bank opened a representative office at Shenzen, China, its first office outside India.
In February, 2007, Allahabad Bank opened its first overseas branch, in Hong Kong.
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