Company profile :ING Vysya Bank (Kannada: .

) is 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.
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 2013, ING Vysya is the seventh largest private sector
bank in India with assets totaling 54836 crore (US$8.6 billion) and
operating 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.
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.
On Nov 20th 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.

History :Early years

Established in 1930s, Vysya Bank was formally incorporated in the city
of Bangalore, Karnataka. The state of Karnataka is known as the
"cradle of Indian banking" due to the region's bygone banking
relationship with several European East India Companies during the
17th, 18th and 19th centuries. Seven of the country's leading banks
(Canara Bank, Syndicate Bank, Corporation Bank, Vijaya Bank,
Karnataka Bank, State Bank of Mysore, and ING Vysya Bank) were
originally established in Karnataka.
From the 1930s through the 1950s, Vysya Bank built its banking
business organically in southern India. The bank concentrated on
serving the Vysya community, a merchant/trading community
operating across Karnataka and Andhra Pradesh. In 1958, the bank was
licensed by the Reserve Bank of India (RBI) to expand its banking
operations nationwide. In 1972, the RBI upgraded Vysya Bank to a
national B class bank.
In 1987, Vysya Bank established two independently operating
subsidiaries providing equipment leasing and home mortgaging
services (Vysya Bank Leasing Ltd and Vysya Bank Housing Finance
Ltd, respectively). In 1994, Vysya Bank began marketing several
innovative financial products to the fast-growing Indian middle-class
segment (e.g. Vysprime and Vysinvest for NRIs, Vysbuy for consumer
financing, Vysmobile for auto loan financing, and Vysequity for
common equity financing).

Globalization through Europe :In 1995, Vysya Bank entered into a long-term strategic alliance with
Belgian bank Bank Bruxelles Lambert (BBL). Following this
agreement, the Vysya Bank engaged KPMC Peat Marwick for
assistance in re-engineering its business processes in preparation for
globalization. In 1996, an international investment banking joint
venture (JV) with MC Securities (London), an investment banking
subsidiary of BBL, was formally established.

In 1998, the ING Group acquired BBL and all its contractual and JV
interests in Vysya Bank. In 1999, Vysya Bank joined the ING Group in
co-marketing/distribution of life insurance products in India. Vysya
Bank also acquired a 26% equity stake in the ING Asset Management
Company. In 2000, Vysya Bank, ING Insurance, and the Damani
Group formed a life insurance JV; this innovative collaboration marks
the first banc assurance venture in India.
Formal merger with the ING Group:In 2002, Vysya Bank's Board of Directors and the RBI approved Vysya
Bank's formal merger with the ING Group. Under Indian law, this
move allowed ING to increase its total equity holdings in Vysya Bank
from 20% to 44%. Peter Alexander Smyth and Jacques PM Kemp were
appointed to the board of the newly-formed ING Vysya Bank.
ING Vysya Bank then appointed Bart Hellemans as CEO and
managing director (MD) and G Mallikarjuna Rao as chairman of the
board.
Post merger News :In 2003, Western Union, a leading global money transfer firm, tied up
with ING Vysya for inbound money transfer services across India. ING
Vysya then launched three new endowment products and an innovative
retail savings account called Orange with facilities such as personal
accident and free annual accident coverage. Japanese auto
manufacturer Toyota then signed an agreement with ING Vysya for
auto financing services. ING Vysya then inked a deal with fertilizer
producers, Madras Fertiliser Ltd (MFL), to co-market/distribute life
insurance products to farmers by employing the fertilizer company's
broker-dealer network in the rural sector.
In 2005, ING Vysya Bank named Ned Swarup to the CEO and MD
role. ING Vysya launched a cheque account product for mid-sized
businesses. It also rolled-out its own proprietary online money transfer
service.
In 2006, Vaughn Richtor stepped into the CEO and MD role for a fixed
three-year term. Under Mr. Richtor's leadership, ING Vysya went
private and delisted from the Bangalore Stock Exchange. ING Vysya
also forayed into private banking and portfolio management services.

In 2009, Shailendra Bhandari was appointed as CEO and MD. He was

formerly the Head of Private Equity at Tata Capital, the Tata Group's
private equity arm. Having completed his three-year term in India,
Vaughn Richtor was promoted to CEO of ING Banking Asia.
In 2010, the Board of ING Vysya Bank nominated Mr. Arun
Thiagarajan to succeed Mr. K.R. Ramamoorthy as chairman of the
board. Mr. Thiagarajan was selected for his vast international
experience across strategic planning, economics and finance,
technology and systems.
As of January 2013, ING Group announced plans to divest itself of its
Indian insurance and investment management businesses through the
sale of its 26% interest in ING Vysya Life Insurance Company Ltd. to
its joint venture partner Exide Industries Ltd.

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. The bank markets an entire range of
financial products and services, organised 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, ING Vysya's retail operation offers cheque accounts,
savings deposits/CD's, retail wealth management services, consumer
loans, agricultural/rural banking and retail life insurance products. The
bank has rapidly expanded its distribution footprint and has created a
national brand presence through several innovative marketing
campaigns.
Private banking
ING Vysya's private bank operates on an advisory-driven model.
Specialised market research remains the bank's 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.
The bank 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. The bank has
accelerated retail agricultural lending at a few places in North India and
Central India especially in Rajasthan, Uttarakhand, Maharashtra,
Gujarat and Madhya Pradesh.

PRODUCT PROFILE :Product Name

year Month

Interest/Discount
2014
on
Advances/Bills
Income on
Investments
Others
Interest
on
Balances
with RBI
and other
inter bank
funds

Sales
Sales
Quantity Value(Rs.Million)

% of
STO

37878.45 72.77

2014

13999.49

26.9

2014

152.63

0.29

2014

21.61

0.04

Products and Services :In Personal Banking to offer wide range of products and services in
deposits, loans, investments, insurance, forex services, demat services,
online services and wealth management services.
In NRI banking it offers money transfer, Investment products such as
International deposit, Mutual fund, online share trading, etc; also offer
property solution, insurance loan.
In Business banking it caters to SME, Retails, NRI and other corporates
offering spectrum of products and services.
The bank also provides wealth management services through ING
Wealth Management Services.

MISSION:INGs mission is to be a leading, global, client-focused, innovative and

low-cost provider of financial services through the distribution
channels of the clients preference in markets where ING can create
value.

MILESTONES IN THE LONG JOURNEY OF ING-VYSYA

BANK:1930
1948
1985
1987
1988
1990
1992
1993
1996

1998

2000

2001
2002

Set up in Bangalore
Scheduled bank
Largest private sector bank
The Vysya bank leasing ltd.
Commenced
Pioneered the concept of co.
branding of credit card
Promoted Vysya Bank
housing financing ltd.
Deposits cross Rs. 1000
crores
Number of branches
crossed 300
Signs strategic alliance with
BBL.,Belgium. Two national
awards by gem & jewellery
export promotion council for
excellent performance in
export promotion.
Cash management services
& commissioning of VSAT.
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 Date centre
at ITPL, Bangalore. RBI
clears setting up of ING
Vysya Life Insurance
Company.
ING-Vysya commenced life
insurance business.
The Bank launched a range

2002

2002

2003

2004

2005

2006

2007

2008

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 the mi-bank 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
17/12/2002
Introduced customer
friendly products like orange
savings, orange current and
Protected Home Loans
Introduced Proteced Home
loans- a housing loan
product
Introduced solo My own
Account for youth and
customer service line
phone banking service
Introduced solo my own
account for youth and
customer service line
phone banking service.
Introduced solo my own
account for youth and
customer service line
phone banking service.
Introduced solo my own

2009

2010

2011

2012

2013

2014

account for youth and

customer service line
phone banking service.
Introduced solo my own
account for youth and
customer service line
phone banking service.
Introduced solo my own
account for youth and
customer service line
phone banking service.
Introduced solo my own
account for youth and
customer service line
phone banking service.
Introduced solo my own
account for youth and
customer service line
phone banking service.
Introduced solo my own
account for youth and
customer service line
phone banking service.
Merge with Kotak Mahindra
bank on 20/11/2014

COMPITIORS PROFILE:-

Company

Sales

Curre
nt

(Rs.
Million)

Price

Chang P/E
e (%) Ratio

Market

52-Week

Cap.(Rs.
Million)

High/Lo
w

411355.3 1044.2
4
5

-0.34

26.98

2626431.1
2

1105/70
8

441781.5
3

311.5

-0.84

16.7

1820888.7
7

393/238

306411.5
553.45
5

-0.24

18.72

1314368.0
4

655/271

-0.03

59.11

1032002.5
7

1457/71
1

82535.34 879.55

-0.82

27.7

469422.34

959/472

Yes
Bank

99813.52

822.4

-0.62

18.27 345676.62

910/365

Federal
Bank

69460.81

134.7

-0.44

11.56 115872.28

154/87

12685.3

41.4

52.93

78932.68

43/41

51159.63 563.25

-1.87

15.61

69637.68

618/326

25459.33

1.53

14.88

56435.31

103/50

HDFC
Bank
ICICI
Bank
Axis
Bank

Kotak
87671.15 1336.1
Mahindra
Bank
Indusind
Bank

Centurio
n Bk of
Punj
Karur
Vysya
Bank

96.05

City
Union
Bank
J&K
Bank
Bank of
Raj

67670.02 101.85

-2.81

7.73

50804.74

200/101

13594.89

212.1

34222.35

214/207

NA

24.1

-1.03

7.91

32876.2

35/21

-1.31

17.97

30062.08

127/57

101.5

1.96

1.51

23892

125/80

Karnatak 41888.28 123.15

a Bank

-0.24

5.84

23263.45

157/109

South
Indian
Bank
DCB
Bank

11282.59 105.25

Standard
99790.88
Chartere
d

Lakshmi
Vilas
Bank
Dhanlax
mi Bank
United
Western
Bank
Ltd
Global
Trust
Bank

19839.5

96.7

-0.97

15.64

17710.94

104/48

12919.48

30.05

-0.83

5376.48

61/30

4866.15

25.9

1392.59

0/0

5395.97

1.17

NA

0/0

LAST FIVE YEAR BALANCESHEET:(Rs. Crore)

PARTICULARS

Mar ' 14

Mar ' 13

Mar ' 12

Mar ' 11

Mar ' 10

Sources of funds
Owner's fund
Equity share capital

188.64

154.85

150.12

120.99

119.97

0.53

0.89

1.59

1.88

2.99

6,882.18

4,471.06

3,724.64

2,397.19

2,099.94

Unsecured loans

41,216.77

41,334.00

35,195.42

30,194.25

25,865.30

Total

48,288.11

45,960.80

39,071.77

32,714.30

28,088.20

505.82

483.74

1,067.52

1,020.20

773.73

Less : revaluation
reserve

103.44

104.23

108.02

Less : accumulated
depreciation

577.31

530.94

485.4

505.82

483.74

386.78

385.03

180.31

18.69

15.86

10.58

13.58

207.6

16,720.76

18,278.23

12,715.50

11,020.67

10,472.92

Current assets,
loans & advances

1,513.04

33,225.15

1,817.01

1,366.91

1,377.15

Less : current
liabilities &
provisions

2,456.64

2,364.39

2,128.84

2,048.53

2,012.64

-943.6

30,860.76

-311.83

-681.62

-635.48

Share application
money
Preference share
capital
Reserves & surplus
Loan funds
Secured loans

Uses of funds
Fixed assets
Gross block

Net block
Capital work-inprogress
Investments
Net current assets

Total net current

assets
Miscellaneous
expenses not
written

Total

16,301.67

49,638.59

12,801.03

10,737.66

10,225.35

Book value of
unquoted
investments

Market value of
quoted investments

Contingent liabilities

1,30,267.11

1,24,227.95

1,27,948.39

62,364.28

77,421.87

1886.36

1548.53

1501.24

1209.87

1199.66

Notes:

Number of equity
sharesoutstanding
(Lacs)

Data collection:1- Questionnaire filled by

a) Existing customers of ING in Surat, Gujarat.
b) New customers who are not associated with ING in Surat,
Gujarat.
Research design: Problem identification
Data collection related to awareness of ING in Surat,
Gujarat.
Sampling technique
Convenience sampling
It is purposive or non-probability sampling.
This sampling method involves deliberate or purposive
selection of particular units of the universe for consulting
a sample, which represents the universe and when
elements are selected for inclusion in the sample based
on the ease of access, it is called convenience sampling.
Research technique:Conclusive research
This type of research helps in reaching certain
conclusions and also in taking decisions.
Some facts about ING-Vysya bank: ING-Vysya bank branches works on profit centre.
Around 500 branches in India and 13 branches in
Gujarat.