Allahabad Bank is planning to merge AllBank Finance (ABFL) with itself. The bank’s board will meet on September 20 to consider a draft scheme of amalgamation of its wholly-owned subsidiary ABFL.
AllBank Finance (ABFL) is a leading merchant banker and has been holding licence for Debenture Trusteeship since February 2010.
Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.