The year 1989 marks the beginning of the 125th anniversary of Allahabad Bank, one of the oldest joint stock banks in India. The bank came into being on 24th April, 1865 in Allahabad. It was a welcome chance for the Indians who were looking for an Indian Bank but had no expertiese and knowledge of the technicalities to start a banking company. Though rooted in foreign initiative, the bank was planned to be an Indian institution. Munshi Gaya Prashad was the first Indian Director of the Board.

The frst branches were opened in the cities of Jhansi, Allahabad, Kanpur, Bareily, Lucknow and Calcutta. In 1923 he Bank became an affiliated to the P & O Banking Co-operation and its head office was shifted to Calcutta. In 1927 it becae an affiliate to the Chartered Bank till it was nationalised along with 13 other premier banks on 19th July, 1969. The nationalisation gave fillip for an acelarted growth and the concept of social banking. Many national leaders of the yester years had banking dealings with the Allahabad Bank - Pandit Motilal Nehru, Shri Purshottam Das Tandon, Dr. K.N. Katju, Sir Surendranath Banerjee, Pandit Jawaharlal Nehru and Smt. Indira Gandhi.

The Bank has the honour of holding the last will and testament of Pandit Jawaharlal Nehru. Todat the Bank has 10 Zonal offices, 34 regional offices and 1515 branches. It has a business turn-over of over Rs. 6000 crores with an annual growth rate of 26%.

Source : Information Folder issued by Indian Posts & Telegraph Department, Government of India