Allahabad UP Gramin Bank- History and Ownership

Spread the love

Allahabad UP Gramin Bank- History and Ownership

The Allahabad UP Gramin Bank was established in 2010. The bank was created by the joining of the Lucknow Kshetriya, Triveni Kshetriya bank and the Sitapur banks. The new bank created sponsored by Allahabad Bank. The bank was established under the Gazette Notification that was issued by the Indian Finance Ministry. under the subsection of the 23rd section of the RRB act. The headquarter of the Allahabad Up Gramin bank can be found  Banda.

Allahabad UP Gramin Bank
Allahabad UP Gramin Bank

Allahabad UP Gramin Bank Some bank History

The Allahabad bank saw an increase in deposit in the early part of the 21st century.  The starts of the Swadeshi movement. The Allahabad bank was bought by the P&O banking corporation in the 1920s with a share price slightly above the US $5. The bank moves its head office in 1923 for many reasons to Calcutta. The P&O bank was acquired by Australia, China and India chartered banks in 1927 and the chartered banks continued to operate the Allahabad bank but not as the same entity but as a different one.

Banks in Rangoon

The bank opened another branch in the Rangoon and shortly after the chartered bank merged with a branch. The People’s Bank created in 1963. charted bank that the government of Burma nationalizes the operation. The government of India nationalized fourteen banks which includes the Allahabad Bank in 1969.

The United industrial bank established in 1940 in Calcutta and over a hundred and forty branches. The bank was bought by the Allahabad bank in 1989. The All Bank Finance Ltd established a few years later by the Allahabad Bank as a merchant bank subsidiary.

Government Ownership

The Allahabad bank shrank government ownership in 2002. This was after the bank engaged in the IPO. The IPO means Initial Public Offering. In 2005 a second public offering of shares conducted. Both these actions helped to reduce the ownership by the government to about fifty-five percent. The first offices that overseas were opened in 2006. It opened in Shenzhen which found in mainland China. N 2007 the bank opened its branch in Hong Kong.  To get information about the Allahabad up Gramin bank IFSC code, it available online where you can get a bit more history about the bank at Allahabad UP Gramin Bank wiki web page.


Website: https://allahabadgraminbank.in/

Allahabad UP Gramin Bank
DM Colony, Civil Lines
Banda, (U.P.)210001
Tel : 05192-220109, 221096
Fax : 05192-221463
Email : ho@aupgb.in


Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!