BANKS INFO

Indian Bank – Points to remember:

 

• Established on 15th August 1907 as part of the Swadeshi movement

• Head Quarter is located at Chennai

• Total Business crossed Rs.2, 11, 988 Crores as on 31.03.2012

• Operating Profit increased to Rs. 3, 463.17 Crores as on 31.03.2012

• Net Profit increased to Rs.1746.97 Crores as on 31.03.2012

• Core Banking Solution (CBS) in all 1965 branches

• 240 Overseas Correspondent banks in 70 countries

• It is the only Indian Bank other than State Bank of India to feature in the List of Fortune 500 Companies in that World.

• Present Chairman and Managing Director is Shri T. M. Bhasin

Indian Bank has diversified its banking activities into 3 Subsidiary companies

• Indbank Merchant Banking Services Ltd

• IndBank Housing Ltd.

• IndFund Management Ltd

Allahabad Bank – Important Points

• Allahabad Bank started operation in 1865.
• The head-quarters of Allahabad Bank is in Kolkata.
• Allahabad Bank has a network of 2500 branches across the country.
• Chairman and Managing Director of the bank is Shri J. P. Dua.
• In 24 April 1865 A group of Europeans at Allahabad founded Allahabad Bank.
• In 19 July 1969 The Indian Government nationalized Allahabad Bank, together with 13 other banks.
• In October 1989 Allahabad Bank acquired United Industrial Bank which was established in 1940.
• Allahabad Bank established All Bank Finance Ltd in 1991. It is a wholly owned Merchant Banking subsidiary.
• In October 2002 Allahabad Bank came out with an Initial Public Offering (IPO) that reduces government holding in this bank to 77.16%.
• In June 2006 Allahabad Bank opened its first office outside India when it opened a representative office in Shenzhen, China.
• In February 2007 Allahabad Bank opened its first overseas branch, in Hong Kong.

Andhra Bank – Important Points

  Andhra Bank is a medium sized Public Sector Bank, with a network of 1712 branches, 25 extensions counters, 38 satellite offices and 1056 ATMs as on 31^st March 2011. Andhra Bank was founded by the eminent freedom fighter, Dr. Bhogaraju Pattabhi Sitaramayya. The Government of India owns 51.55% of its share capital and is going to increase it to 58% by infusing 1100 crore. The state owned Life Insurance Corporation of India holds 10% of the shares. The bank has done a total business of Rs. 1,64,310 crore as on 31.03.2011. The bank’s operations are mostly concentrated in southern India; the region accounts for over 60% of the bank’s advances and deposits.

Bank has opened 2.11 lakh accounts under "No-frill accounts" category till 30.06.2008.

Andhra Bank, along with A P State Government, NABARD, Canara Bank, Indian Bank, IOB and SBH sponsored the Andhra Pradesh Banker's Institute of Entrepreneurship Development, which will offer training to unemployed youth for improving their skills in Andhra Pradesh.

Andhra Bank is the No. 1 in terms of number of Life Insurance Policies.

At Present, the CMD of Andhra Bank is Sri B A Prabhakara

Andhra Bank Awards:

• BEST BANK MID-SIZE Businessworld - PricewaterhouseCoopers Survey for India's Best Banks 2010
• BEST BANK - for the Quality of Assets by Business Today
• BEST PUBLIC SECTOR BANK by State Forum of Bankers' Club Kerala
• MSME (The Micro, Small &Medium Enterprises) NATIONAL AWARD

 

Bank of Baroda – Important Points

• Bank of Baroda Founded on 1908.
• Sir Sayajirao Gaekwad III,The Maharajah of Baroda, founded the bank on 20 July 1908 in the princely state of Baroda, in Gujarat.
• The Headquarters of Bank of Baroda is in Vadodara, India.
• Chairman & MD of Bank of Baroda is M. D. Mallya.
• Bank of Baroda is the third largest bank in India.
• Bank of Baroda is ranked 763 in Forbes Global 2000 list.
• Bank of Baroda has a network of over 3,409 branches and offices, and about 1,657 ATMs.
• In 1957 Bank of Baroda established a branch in London.
• In 1959 Bank of Baroda acquired Hind Bank.
• In 1961 Bank of Baroda merged in New Citizen Bank of India. This merger helped it increase its branch network in Maharashtra.
• In 1969 Government of India Nationalized Bank of Baroda.
• In 1988 BoB acquired Traders Bank, which had a branch network in Delhi.
• In 1998 BoB also acquired Punjab Cooperative Bank in a rescue.
• In 2010 Bank of Baroda, Indian Overseas Bank and Andhra Bank jointly opened a Bank I- ndia BIA Bank (Malaysia) in Malaysia.
• In 2010 BoB opened a branch in New Zealand.
• Bank of India has the highest number of branches and offices Outside.

Canara Bank – Important Points

• Ammembal Subba Rao Pai established Canara Hindu Permanent Fund in Mangalore, India, on 1 July 1906.
• In 1910 the Bank changed its name to Canara Bank Limited.
• Canara Bank Limited was incorporated in 1990
• In 1958, the Reserve Bank of India ordered Canara Bank to acquire G. Raghumathmul Bank, in Hyderabad.
• G. Raghumathmul Bank was established in 1870 and converted into limited company on 1925.
• G. Raghumathmul Bank had five branches at the time of acquisition.
• On 19 July 1969 government of India nationalized Canara Bank Limited and it renamed as Canara Bank after nationalization.
• In 1976, Canara Bank inaugurated its 1000th branch.
• In 1996 Canara Bank became the first Indian Bank to get ISO certification for “Total Branch Banking” for its Seshadripuram branch in Bangalore.
• In 2005 Canara Bank achieved 100% Branch computerization.
• In 2006 Canara Bank entered 100th Year in Banking Service.
• Revenue:  257.92 Billion (2011),
• Net Income: 40.34 Billion (2011)
• Total Assets:  3.2863 Trillion (2011)
• At Present, The CMD of Canara Bank is Mr. Sundar Rajan Raman.
• Canara Bank rank is 7^th in India.

Canara Bank has several firsts to its credit. These include:

• Launching of Inter-City ATM Network
• Obtaining ISO Certification for a Branch
• Articulation of ‘Good Banking’ – Bank’s Citizen Charter
• Commissioning of Exclusive Mahila Banking Branch
• Launching of Exclusive Subsidiary for IT Consultancy
• Issuing credit card for farmers
• Providing Agricultural Consultancy Services

Corporation Bank – Important Points

Corporation Bank, the oldest banking institution in the erstwhile undivided Dakshina Kannada(Mangalore) District of Karnataka and one of the oldest banks in India, was founded in 12 March 1906 in the Temple Town of Udupi, by a small group of philanthropists led by Khan Bahadur Haji Abdulla Haji Kasim Saheb Bahadur. The need to start this bank was felt because there was no such facility at Udupi, an important trading centre next to Mangalore in D.K. District. The indigenous banking was largely in the hands of a few rich private individuals and something had to be done to provide relief to the common man from the clutches of the money lenders who held full sway. The first branch of a modern bank established in the district was the Bank of Madras, one of the three Presidency Banks, which set up its office in Mangalore in 1868 largely to cater to the business needs of a few British firms dealing in export of plantation products. Its agent used to visit Udupi once a fortnight or so, to do banking. Money remittances had to be made only through postal medium.

To overcome these drawbacks and also to provide banking facilities for Udupi in particular and the district in general, a cosmopolitan group of philanthropists led by Haji Abdulla Saheb made a bold venture to start this institution.

Corporation Bank completed 100 years of existence on 12 March 2006. At Present the Chairman and MD of Corporation Bank is Sri Ajay Kumar.

Awards Won By Corporation Bank

• National Award for Assistance to Exporters from the President of India (1976–77)
• Gem & Jewellery Export Promotion Council Award successively for 5 years from 1981 to 1985
• Shiromani Award 1992 for Banking from Union Minister for Commerce
• Best Bank Award for Excellence in Banking Technology from Institute for Development & Research in Banking Technology (IDRBT), Hyderabad (2001)
• Best Bank Award for Innovative Usage and Application on INFINET (Indian Financial Network) from Institute for Development and Research in Banking Technology (IDRBT), Hyderabad (2002)
• Best Bank Award for Delivery Channels from Institute for Development and Research in Banking Technology (IDRBT), Hyderabad (2003)
• Runner-up Awards in the “Best Online and Multi-channel Banking Team” and “Outstanding achiever of the year-corporate” categories in recognition of outstanding achievement in Banking Technology for 2004, instituted under the aegis of Indian Banks Association and Trade Fairs & Conferences International.
• Best PSU Bank of the year by Bloom berg
• UTV Financial Leadership Award 2011
• Best Nationalized Bank by Financial Express (Source : Self Advertisement in Hindustan Times, Delhi, Front Page, 02 Apr 2011)

Dena Bank – Points to remember

Dena Bank is one of the earliest banks in India headquartered in Mumbai. Dena Bank was founded on 26^th May 1938 by Devakaran Nanjee under the name of Devakaran Nanjee Banking Company Ltd., At present, the Chairperson & Managing Director of the Bank is Smt. Nupur Mitra and executive director is Shri A K Dutt.

It found its new name, Dena Bank Ltd., when it was incorporated as a Public Company in December 1939. It is one of the earliest banks in India.

Dena bank has a network of 1291 branches spread across the country as on 31.03.2011. And the bank has 496 ATM’s all across India. Dena Bank introduces core banking on March 2007.

The contemporary D in the logo reflects the dynamism, dedication and the drive towards customer satisfaction. The logo of Dena Bank depicts Goddess LAkshmi, the Goddes of wealth.

Dena Bank has received acclaim for its revolutionary,

            Minor Savings Scheme

            Credit Card in Rural India known as Dena Krishi Sakh Patra

            Drive in ATM counter

            Smart card at selected branches

            Customer rating system for rating the bank services

Bank of India – Points to remember

Bank of India is a state owned commercial bank with headquartered in Mumbai. Bank of India was nationalized on 1969, it is India’s 4^th Largest PSU bank. The top 3 banks are State Bank of India, Punjab National Bank and Bank of Baroda.

Bank of India has 4157 branches and 1679 ATMs. BOI is a founder member of SWIFT, Society for Worldwide Inter Bank Financial Telecommunication. The bank completed its first one hundred years of operations on 7^th September 2006.

A person name Ramakishen Dutt set up the first Bank of India in Culcutta in 1828. Later Bank of India was incorporated in London in the year 1836 as an Anglo Indian Bank. The third bank named Bank of India was registered in Mumbai in the year 1864.

At Present, The CMD is Alok Kumar Mishra.

Products offered by bank are, Commercial Banking, Retail Banking, Private Banking, Asset Management, Mortgages, Credit and Debit Cards.

BOI founded with the head office in Mumbai on 1906.

In 1921, BOI entered into an agreement with the Bombay Stock Exchange.

 Union Bank of India – Important Points

Union Bank of India (UBI) was registered on 11 November 1919 as a limited company in Mumbai and was inaugurated by Mahatma Gandhi. At the time of India's Independence in 1947, UBI still only had four branches - three in Mumbai and one in Saurashtra, all concentrated in key trade centres. After Independence UBI accelerated its growth and by the time the government nationalized it in 1969, it had grown to 240 branches in 28 states. Shortly after nationalization, UBI merged in Belgaum Bank, a private sector bank established in 1930 that had itself merged in a bank in 1964, the Shri Jadeya Shankarling Bank. Then in 1985 UBI merged in Miraj State Bank, which had been established in 1929. In 1999 the Reserve Bank of India requested that UBI acquire Sikkim Bank in a rescue after extensive irregularities had been discovered at the non-scheduled bank. Sikkim Bank had eight branches located in the North-east, which was attractive to UBI.

The Bank now operates through over 2800 branches across the country. The Bank's core values of prudent management without ignoring opportunities is reflected in the fact that the Bank has shown uninterrupted profit during all 90 years of its operations.

At the end of September 2011 the Bank achieved total business level of Rs.3,42,856 crore (Rupees Three Lakh Forty two thousand Eight hundred fifty six crore)

UBI recently launched Talking ATM and is the 4000^th ATM in India.

The Chairman and MD of UBI is Sri D Sarkar.

UBI placed 8^th Rank in India.

Indian Overseas Bank– Points to remember

CMD: Shri M. Narendra

Head quarter: Chennai, India

Started At Madras on 10^th February 1937

Founder: Shri Thiru M. Ct. M. Chidambaram Chettayar

Objective: To encourage overseas banking and foreign exchange operations.

Products offered: Loans, Credit Control, Savings and Current Accounts, Investment Vehicles

Revenue: INR 34,550 Crores (as on 31^st March 2012)

Income: INR 19578 Crores (as on 31^st March 2012)

Branches: 2650 (as on 31^st March 2012)

ATM’s: 1433 (as on 31^st March 2012)