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    Ing Vysya Bank LTD

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    Shailja Singh
    ING Vysya Bank Ltd. was formed through the merger of Vysya Bank Ltd. and ING Group in 2002. Vysya Bank was founded in 1930 in Bangalore to serve those without banking access. ING Group originated in 1990 from the merger of two Dutch companies. As of 2010, ING had over 1247 billion euros in total assets and served over 85 million customers globally. The merger helped enhance ING Vysya Bank's productivity, profitability, and performance for stakeholders. The bank provides various personal and commercial products and competes with other major private banks in India.

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    Ing Vysya Bank LTD

    Uploaded by

    Shailja Singh
    126 views16 pages
    ING Vysya Bank Ltd. was formed through the merger of Vysya Bank Ltd. and ING Group in 2002. Vysya Bank was founded in 1930 in Bangalore to serve those without banking access. ING Group originated in 1990 from the merger of two Dutch companies. As of 2010, ING had over 1247 billion euros in total assets and served over 85 million customers globally. The merger helped enhance ING Vysya Bank's productivity, profitability, and performance for stakeholders. The bank provides various personal and commercial products and competes with other major private banks in India.

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    Ing Vyasya

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    ING Vysya Bank Ltd. was formed through the merger of Vysya Bank Ltd. and ING Group in 2002. Vysya Bank was founded in 1930 in Bangalore to serve those without banking access. ING Group originated in 1990 from the merger of two Dutch companies. As of 2010, ING had over 1247 billion euros in total assets and served over 85 million customers globally. The merger helped enhance ING Vysya Bank's productivity, profitability, and performance for stakeholders. The bank provides various personal and commercial products and competes with other major private banks in India.

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    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    126 views16 pages

    Ing Vysya Bank LTD

    Uploaded by

    Shailja Singh
    ING Vysya Bank Ltd. was formed through the merger of Vysya Bank Ltd. and ING Group in 2002. Vysya Bank was founded in 1930 in Bangalore to serve those without banking access. ING Group originated in 1990 from the merger of two Dutch companies. As of 2010, ING had over 1247 billion euros in total assets and served over 85 million customers globally. The merger helped enhance ING Vysya Bank's productivity, profitability, and performance for stakeholders. The bank provides various personal and commercial products and competes with other major private banks in India.

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    ING VYSYA BANK LTD.

    Company Overview

    ING Vysya Bank Ltd., merger between the Vysya Bank Ltd, a premier bank in the Indian Private Sector and a global financial powerhouse, ING of Dutch origin, during Oct 2002. The Vysya Bank originated in the year 1930, a team of visionaries came together to form a bank that would extend a helping hand to those who weren't privileged enough to enjoy banking services. In 1980, the Bank completed fifty years of service to the nation and post 1985 the Bank made rapid strides to reach the coveted position of being the number one private sector bank.

    The origin of ING Group

    ING group originated in 1990 from the merger between Nationale Nederlanden the largest Dutch Insurance Company and NMB Post Bank Group. Combining roots and ambitions, the newly formed company called Internationale Nederlanden Group. Market circles soon abbreviated the name to I-N-G.

    ING has gained recognition for its integrated approach of banking, insurance and asset management. The company differentiates itself from other financial service providers by successfully establishing life insurance companies in countries with emerging economies, such as Korea, Taiwan, Hungary, Poland, Mexico and Chile. Another specialisation is ING Direct, an Internet and direct marketing concept with which ING is rapidly winning retail market share in financial markets. Finally, ING distinguishes itself internationally as a provider of employee benefits, i.e. arrangements of non-wage benefits, such as pension plans for companies and their employees.

    Mission ING`s mission is to be a leading, global, clientfocused, innovative and low-cost provider of financial services through the distribution channels of the clients preference in markets where ING can create value.

    The immediate benefit to the bank, ING Vysya Bank, has been the pride of having become a Member of the global financial giant ING. As at the end of the year December 2010, ING's total assets exceeded 1247 billion euros,with net profit of 3893 million euros, employed around 105000 people, serves over 85 million customers, across 40 countries. This global identity coupled with the back up of a financial power house and the status of being the first Indian International Bank, would also help to enhance productivity, profitability, to result in improved performance of the bank, for the benefit of all the stake holders. ING has a portfolio of banking solutions and a range of offerings for people from all walks of life, with a view to making banking an effortless task.

    The long journey of seventy-five years has had several milestones


    1930 1948 1985 1987 1990 1996 Set up in Bangalore Scheduled Bank Largest Private Sector Bank The Vysya Bank Leasing Ltd. Commenced Promoted Vysya Bank Housing Finance Ltd. Signs Strategic Alliance with BBL (Bank Brussels Lambert), Belgium. Two National Awards by Gem & Jewellery Export Promotion Council for excellent performance in Export Promotion

    1998

    Golden Peacock Award - for the best HR Practices by Institute of Directors. Rated as Best Domestic Bank in India by Global Finance (International Financial Journal - June 1998)
    State -of - the -art Data Centre at ITPL (International Tech Park Ltd.), Bangalore. RBI clears setting up of ING Vysya Life Insurance Company ING-Vysya commenced life insurance business.

    2000

    2001

    2002

    The Bank launched a range of products & services like the Vys Vyapar Plus (the range of loan schemes for traders), ATM services, Smartserv, (personal assistant service), Save & Secure (an account that provides accident hospitalization and insurance cover), Sambandh (the International Debit Card) and Mi-B@nk (the net banking service).
    ING takes over the Management of the Bank from October 7th , 2002 RBI clears the new name of the Bank as ING Vysya Bank Ltd, vide their letter of 17.12.02 Introduced Protected Home Loans - a housing loan product Introduced Solo - My Own Account for youth and Customer Service Line Phone Banking Service Bank has networked all the branches to facilitate AAA transactions i.e. Anywhere, Anytime & Anyhow Banking ING Vysya Bank launches kids portal www.kidzzbank.com

    2002 2002 2004 2005 2006 2008

    2010 2011

    Bank Branches 468, ECs 13, Satellite Offices 28, ATMs 357 Bank Branches 527, ATMs 422

    Details

    Corporate Address : Ing Vysya House,No 22 M G Road, Bengaluru-560001, Karnataka, www.ingvysyabank.com Chairperson - Arun Thaigarajan MD - Shailendra Bhandari Financials:

    Total Income - Rs. 33490.211 Million ( year ending March 2011) Net Profit - Rs. 3186.49 Million ( year ending March 2011)

    Auditors: M/s. S.R. Batliboi & Co, Kolkata

    Products: Accounts and Deposits


    Platina

    Preferred banking

    provides higher withdrawal limits, and the exclusive Rewards Program, designed to relieve the customers for the effort involved in handling financial and banking needs.
    Platina

    Savings A/c Platina Current A/c


    Savings

    A/c Current A/c Term Deposits Demat A/c Safe Deposit Locker

    Loans

    Home Loan NRI Home Loan Education Loan Personal Loan

    Wealth Management Services ING Fortuna Trade Systematic Investment Plan Life Insurance Investment Products

    Forex

    Easy Banking

    Forex Travel Card Travelers cheques Demand Drafts Telegraphic Transfers Travel Insurance

    Internet Banking Phone Banking Mobile Banking SMS Banking Self Banking ATM Kiosks

    Small and Medium Enterprises

    Support the SME business for past 75years. opens up additional opportunities for growing small businesses.
    Support the agriculture with various products like Loans for Poultry, Dairy, Wells, Pump sets, Tractors/Power Tillers, Plantation Crops, Horticulture Crops, Rural Godowns / Cold storage units, Rural Housing, Microfinance Institutions / Self Help Groups, Swarojgar Credit Card etc.

    Rural Banking

    Business-Wholesale Banking

    Provide its corporate clients in India a full range of commercial, transactional and electronic banking products. Offers a wide array of client-focused corporate banking services, including working capital finance, trade and transactional services, foreign exchange and cash management etc.

    Top Private Banks in India

    HDFC Bank Axis Bank ICICI Bank Kotak Mahindra Bank Yes Bank ING Vysya Bank

    Major Competitors
    Bank

    of India HDFC Bank YES Bank Axis Bank Indian Overseas Bank Bank of Rajasthan Ltd.

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