The Allahabad Bank was established in 1865 by some Europeans settled in the city and is the oldest joint stock bank of India.

Till the year 2011, Allahabad Bank used to conduct the UCO Bank PO exam for recruitment of probationary officers. However, in 2011, the Indian Banks’ Association (IBA) authorised the IBPS to conduct a Common Written Examination (CWE) for recruitment of bank probationary officers (PO) and management trainees (MT.)Since then, the Allahabad Bank has been using the IBPS CWE Bank PO exam for recruitment of its probationary officers.