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AllBank Finance Ltd (ABFL), is wholly owned subsidiary of 147 years old Allahabad Bank. It was incorporated on 29th September 1951 under the Companies Act 1913 as “Allahabad Bank Nominees Limited.” The company was then established as a Custodian of securities (Documents pledged by the clients of Allahabad Bank and held as collateral security against loans granted). The company subsequently changed its name to “AllBank Finance Limited” on 15th February 1991 and registered with SEBI as Category I Merchant Banker. ABFL was engaged in Merchant Banking activities, Hire Purchase & Lease Financing. During 1992-93 company was associated with as many as 79 public issues and figured amongst ‘Top Five Merchant Bankers’ in India. ABFL also participated in Lease and Hire Purchase financing to a great extent.

The Board of ABFL decided to surrender its NBFC licence in 2005. ABFL has also surrendered its Merchant Banking license to SEBI. AllBank Finance Ltd is holding license for Debenture Trusteeship since February, 2010. ABFL offers basket of fee based financial services such as Trusteeship services (Debenture trustee / Security trustee), Investment Advisory & Portfolio Management services, Distribution of MF Schemes, TEV Study, Other Corporate Services including valuation of security and so on. Company will always endeavour to offer best possible services to its clients and thereby achieve sustained growth in the years to come.

The company is professionally managed and the Board comprises representatives from Allahabad Bank and independent Directors with proven experience in financial services sector and banking.

 
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