INTRODUCTION TO THE BANK Type :-Public company Traded as BSE: 532480,NSE: ALBK currently traded at 135(yesterdays’s price) Industry :-Banking, Financial services Founded :-1865,Headquarters :-Kolkata, Number of locations 2500 branches (2012) Key people :-Shubhalakshmi Panse(Chairman & MD) &T.R Chawla (Executive Director) Services :- Finance and insuranceConsumer bankingCorporate Banking
Accolades & Achievements:- FIBAC Banking Award-2011-best bank forinitiatives in Inclusive Banking. UTI MF & CNBC-TV 18 Financial AdvisoryAward 2012- best bank: PSU Category Indira Gandhi Rajbhasha Prize (first Prize). The Bank is positioned 4th fastest growingbank and 5th efficient bank among 57 SCBsas per Business World Award 2011.
HISTORY OF THE BANK(148 years of existence) NineteenthCentury The Oldest Joint Stock Bank of the Country, Allahabad Bank was founded on April24, 1865 by a group of Europeans at Allahabad. At that juncture OrganizedIndustry,Trade and Banking started taking shape in India.Thus, the History of theBank spread over three Centuries - Nineteenth,Twentieth andTwenty-First. April 24, 1865sThe Bank was founded at the confluence city of Allahabad by agroup of Europeans.Twentieth Century 1920sThe Bank became a part of P & O Banking Corporations group with a bidprice of Rs..436 per share, 1923The Head Office of the Bank shifted to Calcutta on Business considerations. July 19, 1969Nationalized along with 13 other banks, Branches - 151 Deposits -Rs.119 crores,Advances - Rs.82 crores. October, 1989United Industrial Bank Ltd. merged with Allahabad Bank. 1991InstitutedAllBank Finance Ltd., a wholly owned subsidiary for MerchantBanking.
HISTORY OF THE BANK Twenty-First Century October, 2002The Bank came out with Initial Public Offer (IPO), of 10crores share of face value Rs.10 each, reducing Governmentshareholding to 71.16%. April, 2005Follow on Public Offer (FPO) of 10 crores equity shares offace value Rs.10 each with a premium of Rs.72, reducing Governmentshareholding to 55.23%. June, 2006The BankTranscended beyond the NationalBoundary, opening Representative Office at Shenzen, China. Oct, 2006Rolled out first Branch under CBS. February, 2007The Bank opened its first overseas branch at Hong Kong. March 2007 Banks business crossed Rs.1,00,000 crores mark. March 2008 Banks business crossed Rs.2,00,000 crores mark and CBSfacility initiated. March 2012 2500 plus branch networkRECNTLYTHE BUSINESS OFTHE BANK HAS CROSSED 2,74,000 crore
SERVICES OFFERED BY THE BANK Personal Banking NRI Services International Banking Corporate Banking Agriculture Product Services to SMEs Government Business Financial Inclusion Zero Balance Current Account Other Services
PERSONALBANKING Current account Savings account Fixed deposit Housing loans Personal loans Car loans & gold loans , Education loans, saral loans etc.
INTERNATIONAL BANKING:- Deposit AccountsNon Resident Indians can open accounts underRepatriable and Non-Repatriable deposit schemes.o Foreign Currency Non Resident account(FCNR).o Non Resident External (NRE) accounts.o Non-Resident Ordinary (NRO) accounts.Loan facility to the NRI’sRemittance facility.
FINANCIAL INCLUSION :- Bank has covered all the 2618 allotted villages as onMarch’12 by way of opening full scale Brick & Mortarbranches in 30 villages, Satellite branches in 4 villages andoperating mobile branches in 22 villages and opening BCoutlets in all remaining 2562 villages. During FY2012, 673029 no frill accounts have been openedin FI implemented villages. 159843 No Frills accountsopened through Business Correspondents upto March’12. No. of smart cards issued upto March’12 in the FI villagesis 131580. Bank has completed the total enrolment of 3, 80,093 UIDout of which 2,24,009 UID numbers have been issued toresidents. Bank has opened 148 Ultra Small Branches on theBank’s foundation day of 24th April 2012 in the States ofU.P,W.B, Jharkhand and Uttarakhand.
AGRICULTURE & SME PROMOTIONAkshay-krishi kisaan credit scheme :-Target Group: Farmers of all categories are eligible under thescheme. However, separate products are available for farmingneeds of Self Help Groups (SHGs) .AllBank-Expo Scheme :-scheme to finance exporters for purchase of Showroom/ Placein the Export Mart.The exporter of cottage/handicraft industry product have now anexcellent opportunity to have their own mart /show room atTheIndianTrade Mart , Greater Noida being set up by the IndianExposition Mart Ltd (a subsidiary company ofThe ExportPromotion Council for Handicrafts).
CONCLUSIONS :- It’s a public sector bank ,so it has to abide by the plans thatthe GoI makes and help the GOVT. achieving its targets. It’s set criterion of giving 25% of the total assets of thebank to the priority sector lending to make industry andagriculture robust. The impact of the GLOBAL FINANCIAL CRISES OF 2008,more number of defaulters unable to pay their loans invarious categories. The increase in the NPA of the bank thus resulted in thedecrease of the various profitability ratios of the bank. Though ,the bank’s quality services have enhanced,introduction of more services being rendered to thecustomers, thus robusts the faith of the bank in customersand hence affects the capital market