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Allahabad Bank receives approval for merger with Indian Bank

17 Sep 2019 Evaluate

Allahabad Bank’s Board has approved the merger proposal with Indian Bank, making the amalgamated entity the seventh largest public sector lender of the country. The board of directors in a meeting held on September 16, 2019 has considered and accorded its in-principle approval for amalgamation of Allahabad Bank into Indian Bank.

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 988.65
PNB 117.70
Bank Of Baroda 234.80
Canara Bank 124.65
Union Bank Of India 178.00
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