CRISIL

Words like ‘We’ or ‘Our’ can be understood as ‘The Company’ while reading this profile.

CRISIL (Credit Rating and Information Services of India Ltd.)

Industry:  Financial Services Founded: 1987 Office:  Global Revenue Rs.538.994 crore (US$109.31 million) (March 2010) Website: http://www.crisil.com Employees: 3200

About:

Credit Rating and Information Services of India Ltd. (CRISIL) a global analytical company providing ratings, research, and risk and policy advisory services. CRISIL's majority shareholder is Standard and Poor's. Standard & Poor's, a part of The McGraw-Hill Companies, is the world's foremost provider of credit ratings. CRISIL is the largest credit rating agency in India. CRISIL pioneered ratings in India more than 20 years ago, and is today the undisputed business leader, with the largest number of rated entities and rating products: CRISIL's rating experience covers more than 41,738 entities, including 20,000 small and medium enterprises (SMEs). As on June 30, 2011, it had more than 13,787 ratings (including over 6,800 SMEs) outstanding.

CRISIL's Global Analytical Centre (GAC) supports the Global Resource Management initiative of Standard & Poor's (S&P). Under this initiative, GAC provides resources to S&P to improve workflow efficiencies, handle end-to-end analytical jobs, process information, and execute complex modelling assignments.

CRISIL’s History:

Since its inception CRISIL has constantly redefined industry standards through best practices and innovations. Sharing with you, key milestones from its journey...

1987 January 29: CRISIL, India's first credit rating agency, is incorporated, promoted by the erstwhile ICICI Ltd, along with UTI and other financial institutions. Mr. N Vaghul and Mr. Pradip Shah are CRISIL's first Chairman and Managing Director, respectively.

1988 §    January 1: CRISIL commences operations within a year of its incorporation. The business environment is far from promising for the one-year old - the lending rates are fixed, and India has no such thing as a corporate bond market as yet. And, what's more, credit rating is an idea that's far ahead of its times.

1990 The CRISILCARD Service - providing comprehensive information and analytical opinion on India's corporate entities - is launched.

1991 Despite the odds, and the initial lack of market acceptance of credit ratings, CRISIL's operations are now well established. It begins to acquire brand identity, with a reputation for analytical rigour and independence.

1992 CRISIL offers technical assistance and training to help set up Rating Agency Malaysia Berhad, and MAALOT, the Israeli securities rating company.

1993 CRISIL's IPO is a whopping success - its 20, 00,000 shares, sold at a premium of Rs.40 per share, are oversubscribed by 2.47 times.

1994 Mr. R Ravimohan takes over as CRISIL's Managing Director. CRISIL diversifies business portfolio with a strategic entry into advisory services, and wins its first major mandate in the infrastructure policy advisory domain.

1995 In partnership with the National Stock Exchange of India Ltd (NSEIL), CRISIL develops and launches the CRISIL500 Equity Index, helping investors clue in on stock price movements.

1996 CRISIL forges a strategic business alliance with Standard & Poor's (S&P) Ratings Group. The tie-up is part of CRISIL's strategy to develop its skills and processes.

1997 S&P acquires a 9.68 per cent stake in CRISIL. The alliance with the world's leading rating agency adds a new dimension to CRISIL's methodologies. It provides CRISIL with exposure to the international rating markets and to S&P's rating processes.

1998 CRISIL sets up India Index Services Ltd (IISL), a joint venture with NSEIL, to provide a variety of indices and index-related services and products to India's capital markets.

1999 CRISIL's proprietary Risk Assessment Model (RAM) becomes the banking industry standard: given the heightened regulatory focus on the banks' risk management practices, RAM serves as a customised credit rating model for the banks.

2000 CRISIL acquires the business, and brand, INFAC, of Information Products and Research Services (India) Pvt Ltd. INFAC is a leading provider of research to India's financial sector. The acquisition strengthens CRISIL's research business, and makes it India's leading provider of integrated research. CRISIL launches the CRISIL Composite Performance Ranking (CRISIL~CPR) to provide performance evaluation standards and investment decision support to mutual fund houses, distributors, and investors.

2001 CRISIL sets up subsidiary, Global Data Services of India Ltd, to standardise published financial data for analysis. CRISIL launches Mutual Fund Awards in association with CNBC-TV18 - a benchmark award for India's best performing mutual funds. CRISIL launches the CRISIL Young Thought Leader (CYTL) Award - to attract outstanding talent and provide a platform to India's future business leaders to showcase their views.

2002 CRISIL sets up: The Centre for Economic Research - to apply economic principles to live business situations CRISIL MarketWire - to provide real-time financial news services to help clients make pricing- and investment-related decisions

2003 CRISIL sets up its investment and risk management services group to offer integrated risk management solutions and advice to banks and corporates. CRISIL follows it up with its first overseas acquisition - EconoMatters Ltd (later the Gas Strategies Group), a London-based company providing natural gas related consulting, information and training, and conference-organising services.

2004 CRISIL expands its global reach further with an equity investment in the world's first regional rating agency, the Caribbean Information and Credit Rating Services Limited (CariCRIS), which CRISIL also helps set up. The CRISIL Awards for Excellence in Municipal Initiatives are instituted, to recognise outstanding programmes in urban development.

2005 The strategic alliance with S&P since 1996 culminates in S&P's acquiring majority control of CRISIL. CRISIL makes its second overseas acquisition, of Irevna, thus adding equity research to its wide canvas of work. Irevna is a leading global equity research and analytics company. CRISIL launches Small and Medium Enterprise (SME) Ratings to serve the specialised needs of the SME sector. CRISIL partners CNBC-TV18 for Emerging India Awards - the first platform to recognize and reward the achievements of India's Small & Medium Enterprises.

2006 CRISIL launches IPO grading services to provide investors with independent, reliable, and consistent assessments of the fundamental strengths of new public issues. Irevna is ranked globally as the top Investment Research Outsourcing Firm by The Black Book of Outsourcing.

2007 Ms. Roopa Kudva takes over as Managing Director and CEO of CRISIL, following Mr. Ravimohan's appointment as Managing Director and Region Head of S&P, South Asia. CRISIL assigns India's first Bank Loan Rating under the Reserve Bank of India's Basel-II related regulations. The Provident Fund Regulatory and Development Authority awards CRISIL with a prestigious mandate to assist in the selection of Fund Managers under the New Pension Scheme. The Black Book of Outsourcing ranks Irevna the No. 1 Financial Services Industry Analytics Outsourcing Firm. CRISIL launches Real Estate Awards with CNBC AWAAZ. The award honors India's exemplary developers and builders.

2008 CRISIL launches Complexity Levels, an initiative to strengthen India's capital markets by providing greater transparency to investors. CRISIL's revenues cross Rs.5 billion in 2008.

2009 CRISIL's SME Ratings group assigns its 5000th SME rating. CRISIL captures about half of India's bank loan rating market. Irevna is ranked globally by The Black Book of Outsourcing as the No. 1 Investment Research and Analytics Outsourcing Firm. CRISIL Research launches Independent Equity Research (IER).

2010 CRISIL moves into a new, corporate head office - the new CRISIL House, at Powai, Mumbai, is a state-of-the-art, green building. CRISIL SME Ratings crosses its 15,000th SME rating. CRISIL launches Real Estate Star Ratings. CRISIL acquires Pipal Research, further strengthening its leadership in the KPO industry.

Mission:

CRISIL is India's leading ratings agency. It is also the foremost provider of high-end research to the world's largest banks and leading corporations. With sustainable competitive advantage arising from its strong brand, unmatched credibility, market leadership across businesses, and large customer base, it delivers analysis, opinions, and solutions that make markets function better. The CRISIL addresses a rich and globally-diversified client base. Within India CRISIL’s customers range from small enterprises to the largest corporations and financial institutions; outside India its customers include the world's largest banks and leading corporations. It also works with governments and policy-makers in India and other emerging markets in the infrastructure domain.

The CRISIL empowers its customers, and the markets at large, with independent analysis, benchmarks and tools. These help lenders and borrowers, issuers and investors, regulators, and market intermediaries make better-informed investment and business decisions. The company’s offerings allow markets and market participants to become more transparent and efficient - by mitigating and managing risk, taking pricing decisions, generating more revenue, reducing time to market and enhancing returns. By helping shape public policy on infrastructure in emerging markets, CRISIL catalyses economic growth and development in these countries.

Business Description:

CRISIL Research is India's largest independent research house. Through constant innovation, and comprehensive research offerings, covering the economy, industry and companies, CRISIL Research meets the requirements of more than 750 Indian and global clients. Apart from off-the-shelf research reports, CRISIL also provides incisive, customised research that allows clients to take informed business and investment decisions.

1. CRISIL Equities 2. Mutual Fund Research 3. Indices - IISL India Index Services and Products Ltd (IISL), a joint venture between NSE and CRISIL Ltd., was set up in May 1998 to provide a variety of indices and index related services and products for the Indian capital markets. It has a consulting and licensing agreement with Standard and Poor's (S&P), the world's leading provider of investible equity indices, for co-branding equity indices.

CRISIL offers domestic and international customers (CRISIL Global Research and Analytics consisting of Irevna and Pipal Research caters to international clients) with independent information, opinions and solutions related to credit ratings and risk assessment; energy, infrastructure and corporate advisory; research on India's economy, industries and companies; global equity research; fund services; and risk management.

CRISIL Infrastructure Advisory* provides practical and innovative solutions to governments, donor funded agencies and leading organizations in over 20 emerging economies across the world to help improve infrastructure service delivery transform performance of public institutions and sector efficiency design and strengthen reform programs to catalyze private sector participation

CRISIL's Core Businesses

Ratings

CRISIL is the largest credit rating agency in India. CRISIL pioneered ratings in India more than 20 years ago, and is today the undisputed business leader, with the largest number of rated entities and rating products: CRISIL's rating experience covers more than 45,676 entities, including 23,500 small and medium enterprises (SMEs). As on September 30, 2011, CRISIL had more than 15,643 ratings (including over 8000 SMEs) outstanding.

Global Research & Analytics: (Irevna, Pipal Research)

CRISIL Global Research & Analytics (GR&A) is the largest and top-ranked provider of high end research and analytics services to the world's leading commercial and investment banks, insurance companies, corporations, consulting firms, private equity players and asset management firms. CRISIL GR&A operates from research centers in Argentina, China, India and Poland, providing research support across several time zones and in multiple languages to global organizations.

The CRISIL GR&A team has deep expertise in the areas of equity research, fixed income research (covering global economies, 150 global sectors and over 3000 global companies), valuations, pricing complex derivatives, structured finance, risk management, actuarial analysis and business intelligence. This expertise enables its clients enhance revenues, accelerate time to market, take pricing decisions and improve operational efficiencies.

Being part of the CRISIL platform enables CRISIL GR&A to attract and retain top quality talent. CRISIL GR&A has over 2,000 employees, 75% of whom hold advanced degrees in finance, accounting and management. It has the largest teams of equity research analysts and derivative analysts outside of investment banks and the largest team of fixed income/credit analysts outside of banks/rating agencies.

CRISIL GR&A has served more than 500 firms over the last decade.

CRISIL’s clients include:

·         12 of the top 15 global investment banks

·         2 of the top 10 global consulting groups

·         3 of the top 10 global Asset Management Companies

·         3 of the top 15 global insurance companies

·         Several fortune 500 companies

CRISIL GR&A includes Irevna and Pipal Research, firms which were acquired by CRISIL. For more information, please visit www.irevna.com and www.pipalresearch.com.

Research

CRISIL Research is India's largest independent research house. Through constant innovation, and comprehensive research offerings covering economy, industry, companies CRISIL Research meets the requirements of more than 750 Indian and global clients. Apart from off the shelf research reports, CRISIL also provides incisive, customised research that allows clients to take informed business and investment decisions.

Comprehensive research coverage on over 65 industries and 150 corporates makes CRISIL a preferred service provider to -

• 90% of India's commercial banks
• 4 of the world's largest consulting firms
• All the leading brokers, investment banks and private equity players

Capital Markets

CRISIL is an eminent player in the capital markets space with detailed perspective covering both debt and equity markets. CRISIL's capital market offerings can be categorised under equity research, initial public offer grading, mutual fund services, and fixed income services. Additionally, CRISIL provides customised research solutions as well.

CRISIL Equities

Offerings under CRISIL Equities are classified as - independent equity research (globally a unique concept) and initial public offer (IPO) grading. CRISIL equities also provide equity outsourcing and customised research for information memoranda and offer documents that are prepared by companies as part of their fund-raising initiatives.

Mutual Fund Services

CRISIL Fund Services (CFS) is India's leading provider of rankings, desktop and valuation tools, indices and market benchmarks and customised investment research. Its Mutual Fund Rankings have been the industry standard for mutual fund evaluation in India for more than a decade.

CFS has executed various policy level prestigious assignments -

• Assisted Employee Provident Fund Organisation (EPFO) in selection of fund managers to manage the EPFO's funds and provide better returns to its members.
• Assisted Provident Fund Regulatory and Development Authority (PFRDA) in framing regulations under the PFRDA act.

Infrastructure Advisory:

CRISIL Infrastructure Advisory* provides practical and innovative solutions to governments, donor funded agencies and leading organizations in over 20 emerging economies across the world to:

• Transform efficiency of public institutions and sector
• Design and strengthen reform programmes to catalyse private sector participation
• Improve infrastructure service delivery

Some of the key assignments executed :

• CRISIL Infrastructure Advisory strategized the takeout finance scheme - a method of making long term debt financing available to large infrastructure projects for India Infrastructure Company Ltd (IIFCL).
• CRISIL Infrastructure Advisory's Energy Practice has designed and implemented first of its kind novel Electricity Distribution Franchisee Contract in Maharashtra.

* Effective April 01, 2007, CRISIL transferred its advisory and risk consulting business into a wholly owned subsidiary, CRISIL Risk and Infrastructure Solutions Ltd (CRIS).

CRISIL Risk Solutions

CRISIL Risk Solutions* (CRS) provides comprehensive risk management services to banks, financial institutions, and corporates across all areas of risk including: credit, market and operational. In addition to providing innovative software products, it also extends consultancy services and analytical insights, which are focused on helping customers become Basel II-compliant.

Ranked as the No. 1 Risk Solution provider in the last Indian Banks' Association (IBA) Finsight media survey, CRISIL Risk Solutions has delivered risk solutions to about 50 financial institutions in India and abroad and has largest user base of more than 100000 users. CRS's flagship product RAM is the largest deployed Internal risk rating solution in India.

Corporate Social Responsibility (CSR)

At CRISIL - 'Making the markets function better' - is not limited to its business services. It is applied, in large part, also to its commitment to society, and in its initiatives to foster self reliance and a better future for the next generation. CRISIL also recognises its responsibility to increase financial awareness and education in order that economic opportunities may be more equitably distributed. Thus, CRISIL has consistently made significant investments in ensuring that its business remains relevant to the larger societal roles, and fulfils its part as a responsible corporate citizen.

I. Financial Awareness
One of the principal areas of intervention by CRISIL is increasing financial awareness, to ensure greater financial inclusion. Its key initiatives in this regard include making rating services available and affordable to a large mass of small and medium enterprises, engaging in research and publishing reports that enable better assessment and decision making for capital providers, and encouraging transparency and financial conscientiousness through interactive events. These include:

a. Microfinance Industry Analysis India's Top 50 Microfinance Insitutions a publication by CRISIL includes a comprehensive and incisive commentary that facilitates a structured evolution of the MFI sector which leads to increased transparency.

b. Creating and disseminating information for retail investors CRISIL's Financial Awareness team conceptualised and created a large repository of educational material, customised to the needs of the general public. It is now working on the distribution plans to implement and reach out to a wide audience that stands to benefit from this material.

c. CRISIL Complexity Levels - A Global First CRISIL proactively monitors the debt market for issuances and analyses these to determine the complexity levels of instruments issued, and makes it publicly available free of cost.

II. Making and facilitating Donations

CRISIL's initiative to foster the 'Culture of Giving to Society' within every CRISILite continues to receive enthusiastic support. CRISIL partnered with NGOs during the year, to provide a diverse range of opportunities to CRISILites to donate to, and participate in worthy causes. These included continuation of the successful payroll-linked giving programme in association with GiveIndia, creating greater awareness about exercise of the right to vote, blood donation camps, tree plantation drives, home repair and construction, donations of clothes and toys, and an opportunity to play Santa Claus to orphans.

a. Product display by NGO On CRISIL's Annual Day in February, the National Association for the Blind was invited to display and sell handicraft products made by blind children. This received an enthusiastic response from CRISILites.

b. Franchise Awareness campaign CRISIL conducted a campaign to make its employees aware of the importance of exercising their franchise in the general elections, and provided necessary assistance in the documentation and other formalities associated with enrolment in the voters' list.

c. Blood donation camps In response to an urgent request by the Indian Red Cross Society for blood donation for Thalassemia affected children, a blood donation camp was organised in CRISIL's Mumbai Corporate Office. Over 90 CRISILites donated blood to the cause.

d. 'Build' and 'Tree Plantation' Drives As part of the McGraw-Hill (MGH) Global Volunteer Day (GVD) activities, CRISIL partnered with Habitat for Humanity and organised a 'Build' and 'Tree Plantation' drive in Mumbai. In the 'Build' drive, volunteers along with skilled masons and the beneficiaries and their families, helped in building homes.

e. 'Joy of Giving' Week CRISIL undertook a 3-week campaign, titled 'Joy of Giving', to encourage new recruits to align themselves with the CRISIL payroll programme (in association with GiveIndia) that was initiated in 2008.

f. The 'Clothes and Toys Donation' Drive As part of the 'Clothes and Toys Donation' drive (in association with Goonj) a large number of CRISILites contributed towards enhancing the joy of the less fortunate by donating clothes and toys during the festive season.

g. 'An opportunity to play Santa' CRISIL's initiative, 'An opportunity to play Santa' saw 30 CRISILites spend time with, entertain, and present gifts to, a delightful group of 300 orphans at St. Catherine's Home, Mumbai.

III. Accreditation of NGOs

CRISIL has always worked towards fostering transparency in the Voluntary Organisation (VO) sector through a reliable accreditation process. To fulfill this aim, CRISIL worked with the Task Force on Accreditation of Voluntary Organisations, appointed by the Planning Commission.

CRISIL assisted the task force in the following areas:

• Defining the procedure for accreditation of VOs

• Identifying the possibility and mechanism of grading of VOs/non-governmental organisations (NGOs)
• Suggesting viable financial models for accrediting VOs/ NGOs

IV. Green initiatives

CRISIL has also sought to ensure that its operations do not impact the environment adversely. CRISIL recently moved its offices in Mumbai to CRISIL House, Hiranandani, Powai. This 211,610 square-feet office building is an environment friendly building. It is designed to optimise consumption of scarce resources such as water, fuel and energy. The design also makes use of recyclable/renewable material, thus reducing its carbon footprint. There is a large green cover and a roof garden to ensure minimal CO2 emissions. There is a provision for allowing ample sunlight, thus reducing electricity consumption.

At the operations level, CRISIL has consolidated its data centres by reducing the number of physical servers to a fourth of the original number, by virtualisation of servers and by providing an enclosed cooling space for the servers. Video conferencing and other modern telecommunications technologies are employed to reduce travelling requirements. CRISIL uses low power-consuming desktop virtualization concepts in cases where full-fledged PCs are not required. These measures are expected to reduce CRISIL's energy consumption by upto 20 per cent, and water consumption by upto 30 per cent.

CRISIL also encourages its employees to be conscious of the environment, and provides common transport as well as promotes the concept of carpooling. During the recent Earth Hour, employees of CRISIL participated by switching off lights and air conditioners in all offices worldwide.

CRISIL Awards

CRISIL Young Thought Leader (CYTL) Awards:

Launched in 2001, the CRISIL Young Thought Leader (CYTL) Awards is a nationwide competition that invites dissertations from post-graduate and graduate students on a spectrum of topical themes. In 2008, 177 students from 61 business schools and 5 colleges across the country submitted dissertations on diverse domains and topics, spanning the Indian and global economy, capital markets and sectors.

CRISIL's senior management is involved at every stage - from carefully selecting topics, to objectively evaluating the hundreds of dissertations that it receives - of this endeavour to promote innovative and incisive thinking in the nation's emerging business leader.

CRISIL Real Estate Awards

CRISIL's Real Estate Awards, given in association with television channel, CNBC Awaaz, are India's biggest and most credible realty sector awards. The awards celebrate sterling performances in the realty industry: they identify and honour professionals who have envisioned and created India's marvels in architecture, development, and interiors.

CRISIL Mutual Fund Awards

CRISIL Mutual Fund Awards, given in association with television channel, CNBC-TV18, celebrate India's best performing mutual funds. The awards function brings together leaders from various Indian and global fund houses, and luminaries from the financial services sector, including senior regulators, leading economists and industry analysts. The selections for the award are underpinned by CRISIL FundServices' Mutual Fund Ranking methodology.

CRISIL Emerging India Awards

India's biggest business award recognises and rewards the nation's best small and medium enterprises (SMEs). The award singles out SMEs that exhibit world-class leadership, outstanding business acumen, best practices, and exemplary vision, creating a legacy for others to emulate. The Emerging India Awards celebrate tomorrow's leaders, today. Emerging India Awards has been acknowledged as India's biggest business award by the Limca Book of Records.

Career:

Life @ CRISIL : CRISIL has what it takes to be your choice for the best place to work in. Its core values of Analytical Rigour, Independence, Integrity, Innovation, and Commitment have helped it become India's leading Ratings, Research, Risk and Policy Advisory Company. These values have also enabled CRISIL to become the preferred workplace for its employees.

The CRISIL strives to place the careers of quick learners on fast track. The Company entrusts its people with responsibility and freedom to operate, and empower them by creating an environment that is conducive to performance and career progression. 

The Company’s people are exposed to the various verticals and horizontals in CRISIL's businesses, and thus, have opportunities to enhance their skill sets. Our people also have a choice of training programmes and modules, all of which are designed to help develop the individual. In addition, it has a culture of celebrating the top performers from each business vertical across the organisation.

CRISIL has offices in 15 locations around the globe. This allows CRISIL access to a truly global and dynamic workforce. Its people are the most vital part of the organisation, and contribute to its growth by directly or indirectly influencing major decisions across businesses. Our people take pride in the challenges at work and in their job profiles.

These factors, perhaps, explain why CRISIL is a sought-after company among candidates seeking employment.

Career Programs

CRISIL Certified Analyst Programme (CCAP):

CCAP is a two-year, intensive entry-level programme. It combines coursework, job assignments and interactive seminars that equip the learner with exceptional financial and business skills. The programme is aimed at developing world-class financial professionals for analyst positions in CRISIL.

CRISIL Young Thought Leader (CYTL):
CYTL is a nationwide competition that invites dissertations from post graduate and graduate students on contextual topics. Over the years, it has attracted intellectual papers across a broad spectrum of issues.

Contact:

Registered Office

CRISIL House,
Central Avenue,
Hiranandani Business Park,
Powai, Mumbai- 400 076, INDIA
Phone : 91-22-3342 3000
Fax : 91-22-3342 3810

Ahmedabad
706, Venus Atlantis
Nr. Reliance Petrol Pump
Prahladnagar, Ahmedabad, INDIA
Phone : 91-79-4024 4500
Fax : 91-79-2755 9863

Bengaluru
W-101, Sunrise Chambers,
22, Ulsoor Road,
Bengalore - 560 042, INDIA
Phone : 91-80-2558 0899 /
91-80-2559 4802 /
91-80-4244 5399
Fax : 91-80-2559 4801

Chennai
Thapar House,
43/44, Montieth Road,
Egmore,
Chennai - 600 008, INDIA
Phone : 91-44-2854 6205 - 06 /
91-44-2854 6093
Fax : 91-44-2854 7531

Hyderabad
3rd Floor, Uma Chambers
Plot No. 9&10, Nagarjuna Hills,
(Near Punjagutta Cross Road)
Hyderabad - 500 482, INDIA
Phone : 91-40-2335 8103 - 05
Fax : 91-40-2335 7507

Kolkata
Horizon, Block 'B', 4th Floor
57 Chowringhee Road
Kolkata - 700 071, INDIA
Phone : 91-33-2289 1949 - 50 /
91-33-4011 8200 - 28
Fax : 91-33-2283 0597

New Delhi
The Mira,
G-1, 1st Floor, Plot No. 1 & 2
Ishwar Nagar, Mathura Road,
New Delhi - 110 065, INDIA
Phone : 91-11-4250 5100 /
91-11-2693 0117 - 121
Fax : 91-11-2684 2212 (Ratings)
91-11-2684 2213 (Advisory)

ING Vysya Bank

Words like ‘We’ or ‘Our’ can be understood as ‘The Company’ while reading this profile.

ING Vysya Bank

Industry:  Banking, Financial Services & Insurance Founded: 2002  (Est. 1930 as Vysya Bank) Head Office:  Bangalore (India) Website: http://www.ingvysyabank.com Employees:65,000

About:

ING Vysya Bank is a Bangalore-based retail and commercial bank, formed after the ING Group formally merged with Vysya Bank in 2002. This merger marks the first between an Indian bank and a foreign bank. 

ING group originated in 1990 from the merger between Nationale – Nederlanden NV the largest Dutch Insurance Company and NMB Post Bank Groep NV. Combining roots and ambitions, the newly formed company called “Internationale Nederlanden Group”. Market circles soon abbreviated the name to I-N-G. The company followed suit by changing the statutory name to “ING Group N.V.”. ING has gained recognition for its integrated approach of banking, insurance and asset management. Furthermore, the company differentiates itself from other financial service providers by successfully establishing life insurance companies in countries with emerging economies, such as Korea, Taiwan, Hungary, Poland, Mexico and Chile. Another specialisation is ING Direct, an Internet and direct marketing concept with which ING is rapidly winning retail market share in mature markets. Finally, ING distinguishes itself internationally as a provider of ‘employee benefits’, i.e. arrangements of nonwage benefits, such as pension plans for companies and their employees.

The immediate benefit to the bank, ING Vysya Bank, has been the pride of having become a Member of the global financial giant ING. As at the end of the year December 2010, ING's total assets exceeded 1247 billion euros, with a underlying net profit of 3893 million euros, employed around 105000 people, serves over 85 million customers, across 40 countries. This global identity coupled with the back up of a financial power house and the status of being the first Indian International Bank, would also help to enhance productivity, profitability, to result in improved performance of the bank, for the benefit of all the stake holders. 

Mission:

ING`s mission is to be a leading, global, client-focused, innovative and low-cost provider of financial services through the distribution channels of the client’s preference in markets where ING can create value.

History & Business Description:

Founded in 1930, 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 1930's through the 1950's, Vysya Bank built its banking business organically in southern India. The bank focused 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. 

ING in India

In 2000, Vysya Bank, ING Insurance, and the Damani Group formed a life insurance JV; this innovative collaboration marks the first bancassurance venture in India.

In India, ING is present in all three fields of banking, insurance and asset management in the form of ING, ING Vysya Life Insurance and ING Investment Management respectively. The presence in all three fields signifies the importance that the group attaches to the Indian markets and the group's operations here, as well as its bullish future outlook on the country.

ING and ING Vysya Life Insurance are headquartered at Bangalore, while the corporate office of ING Investment Management is situated at Mumbai. The synergies arising out of the three distinct but complimentary businesses are bound to be an asset to the group in the changing market dynamics of the future. The first such signs are already visible on the horizon with combined products being successfully launched by the different entities of the group in conjunction with each other.

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 & Managing Director (MD) and G. Mallikarjuna Rao as Chairman of the Board.

Post-merger activities

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 concern, 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 & MD role. ING Vysya launched an innovative checking account product for mid-sized businesses. ING Vysya Bank also rolled out its own proprietary online money transfer service.

In 2006, Vaughn Richtor stepped into the CEO & 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 & MD of ING Vysya Bank. 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 and diverse international experience across strategic planning, economics & finance, technology and systems.

Current operations

ING Vysya Bank has over 80 years of operating experience in the banking/financial services & insurance sector and currently serves over 2 million Indian consumers. The bank offers an entire range of financial products and services, organized under three strategic lines of business: retail, private and wholesale banking.

Retail banking

With 468 branches and 13 counters, 28 satellite offices and 357 ATM's nationwide, ING Vysya's retail operation offers checking 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. Specialized market research remains the bank's focus for the introduction of new tailored products to serve the high-end private banking segment.

Wholesale banking

The wholesale banking operation offers both fund-based and non-fund-based products. The wholesale business is growing its customer base among leading multinational corporations with offices in India.

Company Overview

ING Vysya Bank Ltd., is an entity formed with the coming together of erstwhile, Vysya Bank Ltd, a premier bank in the Indian Private Sector and a global financial powerhouse, ING of Dutch origin, during Oct 2002.

The origin of the erstwhile Vysya Bank was pretty humble. It was in the year 1930 that a team of visionaries came together to form a bank that would extend a helping hand to those who weren't privileged enough to enjoy banking services.

It's been a long journey since then and the Bank has grown in size and stature to encompass every area of present-day banking activity and has carved a distinct identity of being India's Premier Private Sector Bank. 

In 1980, the Bank completed fifty years of service to the nation and post 1985; the Bank made rapid strides to reach the coveted position of being the number one private sector bank. In 1990, the bank completed its Diamond Jubilee year. At the Diamond Jubilee Celebrations, the then Finance Minister Prof. Madhu Dandavate, had termed the performance of the bank ‘Stupendous’. The 75th anniversary, the Platinum Jubilee of the bank was celebrated during 2005. 

The long journey of seventy-five years has had several milestones

1930		Set up in Bangalore
1948		Scheduled Bank
1985		Largest Private Sector Bank
1987		The Vysya Bank Leasing Ltd. Commenced
1988		Pioneered the concept of Co branding of Credit Cards
1990		Promoted Vysya Bank Housing Finance Ltd.
1992		Deposits cross Rs.1000 crores
1993		Number of Branches crossed 300
1996		Signs Strategic Alliance with BBL., Belgium. Two National Awards by Gem & Jewellery Export Promotion Council for excellent performance in Export Promotion
1998		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)
2000		State -of - the -art Date Centre at ITPL, Bangalore. RBI clears setting up of ING Vysya Life Insurance Company.
2001		ING-Vysya commenced life insurance business.
2002		The Bank launched a range 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-b@nk net banking service.
2002		ING takes over the Management of the Bank from October 7th , 2002
2002		RBI clears the new name of the Bank as ING Vysya Bank Ltd, vide their letter of 17.12.02
2003		Introduced customer friendly products like Orange Savings, Orange Current and Protected Home Loans
2004		Introduced Protected Home Loans - a housing loan product
2005		Introduced Solo - My Own Account for youth and Customer Service Line – Phone Banking Service
2006		Bank has networked all the branches to facilitate ‘AAA’ transactions i.e. Anywhere, Anytime & Anyhow Banking

Corporate Social Responsibility

ING Vysya bank has always been committed to making a positive contribution to Society. Promoting education for under-served children is one such cause which has been very close to the bank. Through the ING Vysya Foundation, it seeks to provide less advantaged children an opportunity to secure a better future by providing them with education. 

Born out of three business entities of ING in India, ING Vysya Bank, ING Life Insurance, and ING Investment Management, the Foundation has been able to strike the right balance between supporting organizations financially and contributing time and effort of the employees to nurture and mentor these children, for a better future.

ING Vysya Foundation commenced its activities in December 2004 with a water-harvesting project in the Udaipur and Rajasmand districts of Rajasthan, North India. The initiative provided villagers with access to clean water and recharged ground-water wells which in turn support the local agricultural industry.

The Foundation has also been actively involved in relief efforts following the Tsunami that hit the South Indian coast on 26 December 2004. In cooperation with the regional headquarters of ING at Hong Kong, ING Vysya Foundation supported a number of projects, including the rebuilding of homes and schools, and other facilities for a number of villages. Another project included the micro-financing for 40 fishing boats and the attendant equipment for the villages of Mudaliyarkuppam and Arcotuthurai, in Tamilnadu.

As part of the ING Chances for Children programme, the Foundation signed a five-year agreement to support 100 orphans' living and schooling expenses. Additional funds, set up enabled of a day-care centre with training facilities which is used by the community at large.

Other initiatives include ING Investment Management's auctions of paintings drawn by street children for the NGO Pratham and ING Vysya Bank's 'Run Ricky Run' in which the bank sent a child back to school for each run the Australian cricket captain Ricky Ponting scored in international one-day matches during a one-year period ending September 2008.

Today, Foundation partners with thirteen local charity organizations in India. It helps children to be in the primary schools to realize their right to education as the first step towards breaking the cycle of poverty.

The Foundation depends on voluntary contributions for all its activities. The Foundation runs an annual fund raising campaign to help garner support from employees of its three entities for the cause. To make a contribution, please contact Joyatri.r@ingvysyabank.com or visit www.ingvysyafoundation.com

Board of Trustee

Mr. Kshitij Jain, MD & CEO, ING Life Insurance
Mr. Jayant Mehrotra, Chief Financial Officer, ING Vysya Bank
Mr. J M Prasad, Chief Human Resource, ING Vysya Bank
Mr. Appa Rao, Company Secretary, ING Vysya Bank
Ms. Priya Gopalakrishnan, Director- Human Resource

Foundation Functionaries:
Joyatri Ray, Director- Projects

Career:

ING Group is a global financial institution, operating in over 40 countries with a strength of over 110,000 employees servicing over 85 million customers globally. ING Vysya Bank is a premier private sector bank with Retail, Private and Wholesale Banking platforms that serve over 2 million customers with a national footprint of over 500 outlets.

ING Vysya Bank (IVB) is the only bank in India that blends a competitive global work culture and nurturing Indian values. Human capital is a key focus area for our expansion plans across the country. We are looking for exceptional talent for the following positions, to partner us in this growth.

ING is happy to introduce Fone-a-Career 1800-425-4825, a telephonic job search portal dedicated to candidates seeking jobs at ING. Job search through Fone-a-Career 1800-425-4825 is specific to candidate needs, easy to access and is effective in identifying suitable jobs at ING. A team of experienced career counsellors equipped with a list of openings at the bank, secure information of the candidates; analyze their suitability and provide a comprehensive list of best-fitting jobs to help prospective candidates scale heights with the best-fitting career at ING.

Contact:

For any inquiry and further detail, please contact at following:

http://www.ingvysyabank.com/scripts/emailus.aspx