What happened to ING Vysya?
What happened to ING Vysya?
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. On 1 April 2015, the Reserve Bank of India approved the merger. On 15 May 2016 the whole merger process was completed.
Who bought ING Vysya?
Kotak Mahindra Bank
The merger between ING Vysya Bank (Vysya) and Kotak Mahindra Bank (Kotak) has today been completed. The combined entity has a strengthened position as one of India’s leading privately held banks, with a wider geographical spread and enhanced expertise across customer segments and product categories.
Which bank has RBI approved the merger of ING Vysya Bank?
The Reserve Bank of India (RBI) on Wednesday approved the merger of Kotak Mahindra Bank and ING Vysya Bank. From now on, all ING branches will function as Kotak branches, said the central bank.
Which bank acquired a premium Vysya bank?
Kotak Mahindra Bank on Thursday announced it was acquiring Bengalaru-headquartered ING Vysya Bank in an all-stock deal. ING shareholders will get 725 Kotak Bank shares for every 1,000 shares they hold.
Is ING Vysya Bank merged with Kotak Mahindra?
Upon obtaining all approvals, when the merger becomes effective, ING Vysya will merge with Kotak. Shareholders of ING Vysya will receive shares of Kotak in exchange of shares in ING Vysya at the approved share exchange (“swap”) ratio.
What is the full form of ING?
ING Stands For : Inactive National Guard | Iraqi National Guard | Inertial Navigation Gyroscope | In-active National Guard.
What happened to ING Bank in India?
In 2002, ING merged with Vysya Bank to become ING Vysya.
Which bank merged with Kotak Mahindra?
ING Vysya
CRN merged (Accounts in both Kotak and ING Vysya now Kotak systems) – One single CRN linking all your accounts.
What is the new name for ING?
Capital One 360
ING Direct announced today that it will be changing its name – and saying goodbye to its signature orange color – this coming February. According to an email sent to customers, ING Direct will become Capital One 360.