ING Vysya Bank
ING (International Netherlands Group) Vysya Bank (Kannada: ಐ.ಎನ್.ಜಿ ವೈಶ್ಯ ಬ್ಯಾಂಕ್ ಲಿಮಿಟೆಡ್) is a Bangalore-based private bank with retail, wholesale, and private banking platforms formed from the 2002 acquisition of an equity stake in Indian Vysya Bank by the Dutch ING Group. This merger marks the first between an Indian bank and a foreign bank. 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.
As of March 31, 2013, ING Vysya has assets totaling Rs. 54836 crore ($9.9 billion) and operates a pan-India network of over 1,000 outlets, including 527 branches, which service over two million customers. 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.
Famous quotes containing the word bank:
“That strain again, it had a dying fall;
O, it came oer my ear like the sweet sound
That breathes upon a bank of violets,
Stealing and giving odor. Enough, no more,
Tis not so sweet now as it was before.”
—William Shakespeare (15641616)