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ALBK meaning in NSE Company Symbol ?

Answer» What is Allahabad Bank mean?

Allahabad Bank was founded in Allahabad in 1865, and is a fully owned subsidiary of Indian Bank with its headquarters in Kolkata, India. India. On 24 April 2014, the bank entered into its 150th year of establishment. Until its merger with the Indian Bank in 2020, Allahabad was the oldest joint stock bank in India.

As of 31 March 2018, Allahabad Bank had over 3245 branches across India. The bank did a total business of INR 3.8 trillion during the FY 2017–18.

The bank's market capitalisation in June 2018 was US$573 million and it ranked #1,882 on the Forbes Global 2000 list. On 30 August 2019, the Finance Minister Nirmala Sitharaman announced merger of Allahabad Bank with Indian Bank.

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