Establishment Of ING Vysya Bank - 2017-2018 StudyChaCha

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  #1  
Old April 3rd, 2016, 01:03 PM
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Default Establishment Of ING Vysya Bank

hii sir, I wants to know about the Establishment of the ING VYSYA bank will you please t provide me some information about the Establishment of the ING VYSYA bank ?
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Old April 3rd, 2016, 01:29 PM
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Default Re: Establishment Of ING Vysya Bank

ING Vysya Bank was a privately owned Indian multinational bank based in Bangalore, with retail, wholesale, and private banking platforms formed from the 2002 purchase of an equity stake in Vysya Bank by the Dutch ING Group.

This merger marks the first between an Indian bank and a foreign bank.[3] Prior to this transaction, Vysya Bank had a seven-year-old strategic alliance with erstwhile Belgian bank Banque Bruxelles Lambert, which was also acquired by ING Group in 1998.


Growth and development of the ING VYSYA bank

As of March 2013, ING Vysya is the seventh largest private sector bank in India with assets totaling ₹54836 crore (US$8.1 billion) and operating a pan-India network of over 1,000 outlets, including 527 branches, which service over two million customers.[1][4] ING Group, the highest-ranking institutional shareholder, currently holds a 44% equity stake in ING Vysya Bank, followed by Aberdeen Asset Management, private equity firm ChrysCapital, Morgan Stanley, and Citigroup, respectively

ING Vysya has been ranked the "Safest Banker" by the New Indian Express and among "Top 5 Most Trusted Private Sector Banks" by the Economic Times.[6]

On 20 November 2014, in an all stock amalgamation, ING Vysya Bank decided to merge with Kotak Mahindra Bank, creating the fourth largest private sector bank in India.[7] On 1 April 2015, the Reserve Bank of India approved the merger


Current operations :
Retail banking
Private banking
Corporate/wholesale banking
Agriculture and rural banking


Contact details :
Customer care service : 1800 425 9900
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