Allahabad Bank was one of India’s oldest public sector banks, founded in 1865 in Allahabad (now Prayagraj). It merged into Indian Bank in April 2020 as part of the Government of India’s 10-bank PSU consolidation programme. Allahabad Bank no longer exists as an independent entity — its branches, accounts, and IFSC codes now operate under the Indian Bank brand.
Allahabad Bank — Key Facts
| Founded | 1865 — Allahabad (now Prayagraj), UP |
| Status | Merged into Indian Bank — April 1, 2020 |
| Previous Owner | Government of India (nationalised 1969) |
| Surviving Entity | Indian Bank (BSE: 532814 | NSE: INDIANB) |
Who Owned Allahabad Bank?
Allahabad Bank was owned by the Government of India — nationalised in 1969. In 2020, it was merged into Indian Bank as part of the Finance Ministry’s PSU bank consolidation. Indian Bank (HQ: Chennai) is the surviving entity, still owned by the Government of India. See also: Indian Bank.
