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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

Government Plans To Merge Public Sector Banks

Government is looking to make a merger of public sector banks. Government has asked IDBI Bank Limited (BSE:500116) and United Bank of India (BSE:533171) to prepare a consolidation plan of their merger. Sources said that Finance Ministry and state run banks are looking at other merger option. Government want to give a booster to the weaker entities and is also keen on knowing the blueprint keeping in mind human resource issues, geographical spread and technology platforms while merger. Dena Bank Ltd. (NSEI:DENABANK) may be allowed to merge with Punjab National Bank (BSE:532461), while Oriental Bank of Commerce (BSE:500315) may be headed for integration with Bank of India (NSEI:BANKINDIA). Although the proposals are only at preliminary discussion stage, Bank of Baroda (NSEI:BANKBARODA), Canara Bank Limited (BSE:532483) and Union Bank of India (BSE:532477) have been identified as potential acquirers for the weaker entities. Dena Bank, Allahabad Bank (BSE:532480) and UCO Bank (NSEI:UCOBANK) are also waiting for a helping hand. Sources also said that the merger of IDBI and United Bank would make a perfect sense. MS Raghvan, Chairman and Managing Director of IDBI said, "Nothing has emerged." United Bank executive said there were discussions but bank had not been asked to prepare a blueprint. Arundhati Bhattacharya, Chairman of State Bank of India (BSE:500112) could not be reached for comment but in a recent interview she had backed the idea of merger of subsidiaries.

Allahabad Bank Announces Unaudited Earnings Results for the First Quarter Ended June 30, 2014

Allahabad Bank announced unaudited earnings results for the first quarter ended June 30, 2014, For the quarter, the company reported total income of INR 55,180 million compared with INR 50,649.5 million for the same period in the last year. Operating profit before provision and contingencies was INR 12,195.3 million compared with INR 10,219.2 million for the same period in the last year. Profit from ordinary activities before tax was INR 3,675.9 million compared with INR 5,764.2 million for the same period in the last year. Net profit was INR 1,127.2 million compared with INR 4,130.9 million for the same period in the last year. Basic and diluted earnings per share were INR 2.07 compared with INR 8.26 for the same period in the last year. Net interest income was INR 16,096.6 million against INR 13,118.4 million a year ago. Book value per share was INR 203.14 as at June 30, 2014.

Allahabad Bank, Q1 2015 Earnings Call, Jul 25, 2014

Allahabad Bank, Q1 2015 Earnings Call, Jul 25, 2014

 

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ALBK Competitors

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Company Last Change
Indian Bank 156.30 INR -4.10
Indian Overseas Bank 60.90 INR -4.20
Oriental Bank of Commerce 278.55 INR -15.00
Syndicate Bank 124.50 INR -7.00
UCO Bank 85.25 INR -4.80
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