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 | This article needs to be updated. (August 2015) |
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| BSE: 531807 NSE: INGVYSYABK | |
| Industry | Banking, financial services & insurance |
| Founded | 2002 (est. 1930 as Vysya Bank) |
| Fate | merged with Kotak Mahindra Bank |
| Headquarters | Bangalore, India |
Key people | Meleveetil Damodaran (Chairman)[1] Uday Sareen (MD & CEO) |
| Revenue | ₹55.88 billion (US$650 million)[2] |
| ₹6.13 billion (US$72 million)[2] | |
| Total assets | ₹548.36 billion (US$6.4 billion)[2] |
Number of employees | Over 10,000[3]
No. of Branches: 527[3] No. of ATMS: 405 No. of Extension counters: 10 |
| Website | |
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 marked the first between an Indian bank and a foreign bank.[4] Prior to this transaction, Vysya Bank had a seven-year-old strategic alliance and shareholding arrangement with erstwhile Belgian bank Banque Bruxelles Lambert, which was also acquired by ING Group in 1998.
As of March 2013, ING Vysya was the seventh largest private sector bank in India with assets totalling ₹548.36 billion (US$6.4 billion) and operating a pan-India network of over 1,000 outlets, including 527 branches, which serviced over two million customers.[2][5] ING Group, the highest-ranking institutional shareholder, held a 44% equity stake in ING Vysya Bank, followed by Aberdeen Asset Management, private equity firm ChrysCapital, Morgan Stanley, and Citigroup, respectively.[6]
ING Vysya Bank was ranked among top five Most Trusted Brands among private sector banks in India in the Economic Times Brand Equity – Neilsen survey 2011.[7] The bank had also been ranked the "Safest Banker" by the New Indian Express and among "Top 5 Most Trusted Private Sector Banks" by the Economic Times.[7]
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.[8] On 1 April 2015, the Reserve Bank of India approved the merger. On 15 May 2016 the whole merger process was completed.[9]
- ^ "bod".
- ^ a b c d http://www.ingvysyabank.com/pdf%27s/Financial%20Results-%20Mar%2013.pdf Archived 14 May 2014 at the Wayback Machine [bare URL PDF]
- ^ a b ING Vysya - ING Vysya Bank - Personal Banking Archived 6 August 2013 at the Wayback Machine. ING Vysya Bank. Retrieved on 6 December 2013.
- ^ "Archives Top and Latest News".
- ^ ChrysCapital Archived 21 September 2013 at the Wayback Machine. ChrysCapital. Retrieved on 6 December 2013.
- ^ http://www.ingvysyabank.com/pdf%27s/INGVysyaBank_MARCH2012.pdf Archived 24 May 2012 at the Wayback Machine [bare URL PDF]
- ^ a b ING Vysya Bank was ranked among top 5 Most Trusted Brands among private sector banks in India in the Economic Times Brand Equity – Neilsen survey 2011. ndtv.com. Retrieved on 27 March 2022.
- ^ Ninan, Oommen a. (20 November 2014). "ING Vysya Bank to merge with Kotak Mahindra Bank". The Hindu. thehindu.com. Retrieved 21 November 2014.
- ^ "Kotak Mahindra, ING Vysya extend gains after RBI approves amalgamation". Business Standard. 6 April 2015. Retrieved 12 April 2015.
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