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Allahabad Bank to merge with Indian Bank

03 Sep 2019 Evaluate

Indian Bank has received a communication from Ministry of Finance, Government of India stating that the Alternative Mechanism (AM) after consultation with Reserve Bank of India has decided that Indian Bank and Allahabad Bank may consider amalgamation of the Allahabad Bank into Indian Bank. Accordingly, a meeting of Board of Directors to consider the amalgamation will be convened by the Bank in due course.

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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