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2nd March 2016, 08:46 AM
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Join Date: May 2012
Re: ING Vysya Bank Abbreviation

ING is an International Netherlands Group it has merged with Vyasa bank of India

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.

The 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.

Current operations
ING Vysya Bank has competed in the banking/financial services and insurance markets for over 80 years and currently serves over two million Indian consumers.

It markets an entire range of financial products and services, organized under three strategic lines of business: retail, private and wholesale banking.

Retail banking
With 547 branches and 10 counters, 28 satellite offices and 470 ATM's nationwide, its retail operation offers cheque accounts, savings deposits/CD's, retail wealth management services, consumer loans, agricultural/rural banking and retail life insurance products.

It has rapidly expanded its distribution footprint and has created a national brand presence through several innovative marketing campaigns.

Private banking
Its private bank operates on an advisory-driven model.
Specialized market research remains its emphasis for the introduction of new tailored products to serve the high-end private banking segment.

Corporate/wholesale banking
The wholesale banking business provides corporate clients in India a range of commercial, transactional and electronic banking products.

It offers client-focused products including working capital finance, trade and transactional services, foreign exchange, term loans and cash management services.

The wholesale banking business comprises four business sub-segments and multiple product offerings.

The business segments Corporate and Investment Banking, Emerging Corporates, Banking and Financial Institutions and financial markets.

Agriculture and rural banking
Agriculture and Rural Banking deals with all business related to agriculture and allied activities, Gold Loans, loans to SHGs and lending to government-sponsored schemes.

Working Capital and Agriculture Term Loans for poultry, dairy, cold storage units etc. are also being offered to cater diverse needs of the farming community.

It has step up retail agricultural lending at a few places in North India and Central India especially in Rajasthan, Uttarakhand, Maharashtra, Gujarat and Madhya Pradesh.


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