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Allahabad Bank planning to merge AllBank Finance with itself

18 Sep 2017 Evaluate

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.

Peers
Company Name CMP
State Bank Of India 961.70
PNB 116.10
Bank Of Baroda 230.00
Canara Bank 118.60
Union Bank Of India 172.00
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