Banking in India

Banking in India originated in the first decade of 18th century. The first banks
were The General Bank of India, which started in 1786, and Bank of Hindustan.
The oldest bank in existence in India is the State Bank of India, which originated in
the "The Bank of Bengal" in Calcutta in June 1806.The presidency banks were
established under charters from the British East India Company. They merged in
1925 to form the Imperial Bank of India. The Reserve Bank of India formally took
on the responsibility of regulating the Indian banking sector from 1935. After
India's independence in 1947, the Reserve Bank was nationalized and given
broader powers.

History
The first fully Indian owned bank was the Allahabad Bank, established in 1865.
Promoters opened banks banks to finance trading in Indian cotton. With large
exposure to speculative ventures, most of the banks opened in India during that
period failed. The depositors lost money and lost interest in keeping deposits with
banks. Subsequently, banking in India remained the exclusive domain of
Europeans for next several decades until the beginning of the 20th century. Around
the turn of the 20th Century, the Indian economy was passing through a relative
period of stability. Around five decades had elapsed since the Indian Mutiny, and
the social, industrial and other infrastructure had improved. Indians had established
a small banks, most of which served particular ethnic and religious communities

By the 1900s, the market expanded with the establishment of banks such as Punjab
National Bank, in 1895 in Lahore and Bank of India, in 1906, in Mumbai - both of
which were founded under private ownership. Punjab National Bank is the first
Swadeshi Bank founded by the leaders like Lala Lajpat Rai, Sardar Dyal Singh
Majithia. The Swadeshi movement in particular inspired local businessmen and
political figures to found banks of and for the Indian community. A number of
banks established then have survived to the present such as Bank of India,
Corporation Bank, Indian Bank, Bank of Baroda, Canara Bank and Central Bank
of India
Current situation
Currently (2007), banking in India is generally fairly mature in terms of supply,
product range and reach-even though reach in rural India still remains a challenge
for the private sector and foreign banks. In terms of quality of assets and capital
adequacy, Indian banks are considered to have clean, strong and transparent
balance sheets relative to other banks in comparable economies in its region. The
Reserve Bank of India is an autonomous body, with minimal pressure from the
government

With the growth in the Indian economy expected to be strong for quite some time-
especially in its services sector-the demand for banking services, especially retail
banking, mortgages and investment services are expected to be strong.

Currently,

India has 88 scheduled commercial banks (SCBs)

27 public sector banks,

29 private banks

Commercial Bank
Allahabad Bank, which began operations in 1865, now has its head-quarters in Kolkata.
Currently the bank has 2165 branches [1] across the country. The Chairman and Managing
Director of the bank is K R Kamath.

History
• On April 24, 1865, a group of Europeans founded the bank at Allahabad, making it the
oldest Joint Stock bank in India.
• In 1920, P&O Bank bought Allahabad Bank.
• In 1923 the bank moved its headquarters to Calcutta.
• In 1927, Chartered Bank of India, Australia and China acquired and amalgamated P&O
Bank. However, Chartered Bank continued to operate Allahabad Bank as a separate
entity.
• In June, 2006, the bank opened a representative office at Shenzen, China, its first office
outside India.
• In February, 2007, Allahabad Bank opened its first overseas branch, in Hong Kong.
Andhra Bank is the pioneer in introducing Credit Cards in India during the early eighties.

The bank is No 1 in Asia for "return on capital" and has moved up the world ranking by 277
notches to reach 683rd global ranking". This is as per information by The Banker of London, a
member of the Financial Times Group of Business Publications, of July and August 2005.

It has 130,000 shareholders, 13.72 million customers and 13,922 employees spread across the
length and breadth of the country (India).

Services

AB KISAN VIKAS CARD e-bike

ATM Mobile

CMS (cash mag. systems)

Western Union Money Transfer

DMAT

Bank of Baroda (BSE: 532134) is the sixth largest bank in India. It has total assets in excess of
Rs. 1.78 lakh crores, or Rs. 1,780 bn., a network of over 2800 branches and offices, and about
1000+ ATMs. Bank of Baroda offers a wide range of banking products and financial services to
corporate and retail customers through a variety of delivery channels and through its specialised
subsidiaries and affiliates in the areas of investment banking, credit cards and asset management.

Maharajah of Baroda Sir Sayajirao Gaekwad III founded the bank on July 20, 1908 in the
princely state of Baroda, in Gujarat. The bank, along with 13 other major commercial banks of
India, was nationalised on 19 July 1969, by the Government of India.

Appraisal &
Banking,
Industry
Merchant Banking
Capital Markets and allied industries

• Loans, Credit Cards, Savings,

Products
Investment vehicles etc. Appraisal &
Merchant Banking

o Appraisal
 o Loan Syndication
o Other Consultations

• Cash Management & Remittances

o Bank of Baroda Cash Reach

o Remittances & Collection

History

• 1908: Maharaja Sayajirao Gaekwad III set up Bank of Baroda (BOB).

• 1910: BOB established its first branch in Ahmedabad.
• 1961: BOB merged in New Citizen Bank of India. This merger helped it increase its
branch network in Maharashtra. BOB also opened a branch in Fiji.
• 1962: BOB opened a branch in Mauritius.
• 1963: BOB acquired Surat Banking Corporation in Surat, Gujarat.
• 1972: BOB acquired Bank of India’s operations in Uganda.
• 1974: BOB opened a branch each in Dubai and Abu Dhabi.
• 1975: BOB acquired the majority shareholding and management control of Bareilly
Corporation Bank (est. 1928) and Nainital Bank (est. in 1954), that time both in Uttar
Pradesh. Now Nainital Bank in Uttarakhand State.
• 2000: BOB established Bank of Baroda Botswana.
• 2002: BOB acquired Benares State Bank at the Reserve Bank of India’s request.
• 2003: BOB opened an OBU in Mumbai.
• 2006: BOB established an Offshrore Banking Unit (OBU) in Singapore.
• 2007: In its centenary year, BOB's total business crossed 2.09 lakh crores, its branches
crossed 1000, and its global customer base 29 million people.

STATE BANK OF INDIA – FUNCTIONS AND DUTIES

STATE BANK OF INDIA POWERS AND DUTIES OF ITS OFFICERS AND EMPLOYEES.

All the officers have certain financial powers and administrative powers depending upon
their positions. The delegation of financial powers of various grades of officials is decided by
the Central Board which are revised from time to time, depending upon the organization’s
requirement and also Government / RBI guidelines. The concerned sanctioning authority
takes a decision to sanction a loan or otherwise on merits of each proposal.
THE NORMS SET BY THE STATE BANK OF INDIA FOR THE DISCHARGE OF ITS
FUNCTIONS.

The Bank functions with the following core values / norms

•Excellence in customer service
•Profit orientation
•Fairness in all dealing and relations
•Risk taking and innovation
•Integrity
•Transparency and discipline in policies and systems

Regarding the core functions of the Bank i.e. accepting deposits and sanction of loans,the
interest rates for deposits / advances and different deposit as well as loan products, are
displayed in the Bank’s website and also made available at all the Branches.

Regarding sanction of loans, each officer of the Bank will consider loan proposals and take a
decision in terms of the scheme of delegation of powers, on the merits of the proposals. All
the officers of the Bank are expected to discharge their duties and responsibilities with
integrity and due diligence.

Public can also refer to the captions ''Interest rates', 'code of ethics' & 'citizens
charter' of the Bank's website for any further information. They can also refer to the
following captions of the Bank's website, for detailed information on related products.
i)Personal Banking

ii)Agricultural / Rural

iii)NRI Services

iv)International

v) Corporate Banking

vi) Services

vii) Government Agencies

viii) SME

The rules and regulations, instructions, manuals and records held by the Bank/
used by its employees for discharging its functions

There are quite a number of documents like manuals, book of instructions, codified
circulars, scheme of delegation of powers, proceedings of the board etc and also the
periodical circulars used by the employees for discharging various functions.
Listed on the left are Services, SBI offers to its customers.

 DOMESTIC TREASURY
 SBI VISHWA YATRA FOREIGN TRAVEL CARD
 BROKING SERVICES
 REVISED SERVICE CHARGES
 ATM SERVICES
 INTERNET BANKING
 E-PAY
 E-RAIL
 RBIEFT
 SAFE DEPOSIT LOCKER
 GIFT CHEQUES
 MICR CODES
FOREIGN INWARD REMITTANCES

Bank of India (BoI), established on 7 September 1906 is a bank with headquarters in Mumbai.
Government-owned since nationalization in 1969, It is one of India's leading banks, with about
2,884 branches including 27 branches outside India. BoI is a founder member of SWIFT (Society
for World-wide Inter Bank Financial Telecommunications) in India which facilitates provision of
cost-effective financial processing and communication services. The Bank completed its first one
hundred years of operations on 7th September, 2006.

MISSION: "To provide superior, proactive banking services to niche markets globally, while
providing cost-effective, responsive services to others in our role as a development bank, and in
so doing, meet the requirements of our stakeholders".

VISION: "To become the bank of choice for corporate, medium businesses and upmarket retail
customers and to provide cost effective developmental banking for small business, mass market
and rural markets"

Online Services
:: Internet Banking
:: Pay Bills
:: Book Ticket
:: Tax Payment
:: Online Trading in Shares
:: Star e-Remit
:: Internet Banking

History

Previous banks that used the name Bank of India

At least three banks having the name Bank of India had preceded the setting up of the present
Bank of India.
 1. A person named Ramakishen Dutt set up the first Bank of India in Calcutta
(now Kolkata) in 1828, but nothing more is known about this bank.
2. The second Bank of India was incorporated in London in the year 1836 as an
Anglo-Indian bank.
3. The third bank named Bank of India was registered in Bombay(now Mumbai)
in the year 1864.
4. 1906: Founded with Head Office in Mumbai.
5. 1921: BoI entered into an agreement with the Bombay Stock Exchange to manage its
clearing house.

The earlier holders of the Bank of India name had failed and were no longer in existence
by the time a diverse group of Hindus, Muslims, Parsis, and Jews helped establish the
present Bank of India in 1906. It was the first bank in India promoted by Indian interests
to serve all the communities of India. At the time, banks in India were either owned by
Europeans and served mainly the interests of the European merchant houses, or by
different communities and served the banking needs of their own community.

The promoters incorporated the Bank of India on 7 September, 1906 under Act VI of
1882 with an authorized capital of Rs. 1 crore divided into 100,000 shares each of Rs.
100. The promoters placed 55,000 shares privately, and issued 45,000 to the public by
way of IPO on 3rd October, 1906; the bank commenced operations on 1st November,
1906.

The lead promoter of the Bank of India was Sir Sassoon J. David (1849-1926). He was a
member of the community of Baghdadi Jews, which was notable for its history of social
service and included the Sassoons. He was a prudent banker, and remained the Chief
Executive of the bank from its founding in 1906 until his death in 1926.

The first board of directors of the bank consisted of Sir Sassoon David, Sir Cowasjee
Jehangir, J. Cowasjee Jehangir, Sir Frederick Leigh Croft, Ratanjee Dadabhoy Tata,
Gordhandas Khattau, Lalubhai Samaldas, Khetsety Khiasey, Ramnarain Hurnundrai,
Jenarrayen Hindoomull Dani, Noordin Ebrahim Noordin.

• 2005: BoI opened a representative office in Vietnam.

• 2006: BoI plans to upgrade the Shenzen and Vietnam representative offices to branches,
and to open representative offices in Beijing, Doha, and Johannesburg. In addition, BoI
plans to establish a branch in Antwerp and a subsidiary in Dar-es-Salaam, marking its
return to Tanzania after 37 years.
• 2007: BoI acquired 76 percent of Indonesia-based PT Bank Swadesi.

2007- :T.S.Narayanasami
Bank of Maharashtra (BoM), incorporated on 16th September 1935 as a public limited
company, is a public sector commercial bank of India. Although the bank maintains a presence
throughout India, most of its 1322 branches are located in the western part of the country. The
Government of India had nationalized the bank on 19th July 1969 along with thirteen other
major banks of India.

[edit] History
Canara Bank, established in 1906 as Canara Bank Hindu Permanent Fund [1] in Mangalore,
India, by Ammembal Subba Rao Pai, is one of the oldest and major commercial banks of India.
Its name was changed to Canara Bank Limited in 1910. The bank, along with 13 other major
commercial banks of India, was nationalised on 19th July, 1969, by the Government of India. In
1985, Canara Bank acquired Lakshmi Commercial Bank in a rescue.

Branches
As of 2008, the bank has a network of 2641 branches, spread across India and other countries. Its
head office is located in Bangalore, India. The bank also has international presence in several
centers, including London, Hong Kong, Moscow, Shanghai, Doha, and Dubai. In terms of
business it is one of the largest nationalized commercial banks in India, with a total business of
about Rs.2 trillion.

[edit] Founding Principles

• To remove superstition and ignorance.
• To spread education among all to sub-serve the first principle.
• To inculcate the habit of thrift and savings.
• To transform the financial institution not only as the financial heart of the community but
the social heart as well.
• To assist the needy.
• To work with sense of service and dedication.
• To develop a concern for fellow human being and sensitivity to the surroundings with a
view to make changes/remove hardships and sufferings.

Canara Bank was ranked at 1299 in the Forbes Global 2000 list

Development projects
Canara bank made a partnership with UNEP to initiate a successful solar loan programme. It was
a four-year $7.6 million effort, launched in April 2003 to help accelerate the market for financing
solar home systems in southern India.
Central Bank of India is one of the oldest and largest commercial banks in India. It was
established in 1911 by Sir Sorabji Pochkhanawala[1] and was the first commercial Indian bank
completely owned by Indians. The bank, with 13 others, was nationalized by the Indian
Government on 19th July, 1969. [1] The bank currently has 3,168 branches and 270 extension
counters across 27 Indian states.

The present Chairperson and Managing Director, Ms. Homi. A. Daruwala, has initiated steps to
bring this bank to a par with private-sector banks. She has taken decisions regarding
computerisation, ATM services and core banking. The bank is planning to introduce core
banking solutions (CBS) in 1,000 branches.

Corporation Bank, founded in 1906 in Udupi, Karnataka state, India, is one of the Indian banks
in Public Sector Undertaking. The bank was founded with an initial capital of Rs. 5000 (USD
100), and first day’s canvassed resources of less than one USD 1, has currently (31 March 2004)
11,325 full time employees, and operates from several branches in India.

The Bank is a Public Sector Unit with 57.17% of Share Capital held by the Government of India.
The Bank came out with its Initial Public Offer (IPO) in October 1997 and 37.87% of Share
Capital is presently held by the Public and Financial Institutions. The Bank’s Net Worth stood at
Rs.3,054.92 crores as on 31 March 2005.

Loans, Credit Cards, Savings, Investment

Products
vehicles, etc.

History

Corporation Bank, the oldest banking institution in the erstwhile undivided Dakshina Kannada
District of Karnataka and one of the oldest banks in India, was founded in 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. What inspired the
founding fathers was the fervour of Swadeshism

The second change in the name of the Bank occurred in 1972, from ‘Canara
Banking Corporation Ltd'. to ‘Corporation Bank Limited.' The Bank was nationalised
in 1980 along with 5 other private sector banks. After nationalisation, the pace of
growth of the Bank accelerated and it made all-round progress. Started as a
common man's bank, it changed with the times to meet the aspirations of the
people but never swerved from its motto- "Sarve Janah Sukhino Bhavantu" meaning
Prosperity for All

Completes a 100yrs of banking

Corporation Bank completed 100 years of existence on 12 March 2006. The Centenary
celebrations were launched by Shri V. Leeladhar, Deputy Governor, Reserve Bank of India with
the Bank's Foundation Day lecture on 12 March 2005.

As a part of the Bank's centenary celebrations, a number of programmes and projects were
planned and executed. As a first step, the Bank has launched the Corp Kissan Card - debit card
tied up with VISA international,, to enable the farmers make timely purchases for agricultural
operations.at Yeshwantpur-Malur in Kolar District on 13 March 2005.

Corporation Bank - A Corporate Journey , the history of the Bank and Haji Abdullah
Saheb a biography of the Bank's Founder President have been published on the
occasion of the valedictory function of the Bank's Centenary Celebrations

Indian Bank, established in 1907, is a major Indian commercial bank

headquartered in Chennai (Madras), India. It has 22,000 employees and 1,543
branches and is one of the big public sector banks of India. It has overseas branches
in Colombo, Sri Lanka and Singapore, and 229 correspondent banks in 69 countries.
The Government of India nationalized the bank, along with 13 other major
commercial banks, on 19 July 1969.

History

1907: Established on 15 August as part of the Swadeshi movement (Freedom

Movement in India).[1] Though not a Chettiar bank, some of the founders were
Chettiars. The key figure was V. Krishnaswamy Iyer, a lawyer in Madras, who had
made a name for himself defending claimants on Arbuthnot & Co, which had failed
the previous year. In its early international expansion, IB would open branches in
cities with important Chettiar populations.

• 1932: Indian Bank opened a branch in Colombo.

• 1935: IB opened a branch in Jaffna.
• 1939: IB closed the Jaffna branch.
• 1940: IB opened a branch in Rangoon (Yangon).
 • 1980: IB, Bank of Baroda, and Union Bank of India established IUB International
Finance, a licensed deposit taker in Hong Kong. Each of the three banks took an equal
share in the joint venture.
• 1987: IB acquired Bank of Tanjore (Bank of Thanjavur) in Tamil Nadu in a rescue.
• 1998: Bank of Baroda bought out its partners in IUB Intl. Fin. in Hong Kong. Apparently
this was a response to regulatory changes following Hong Kong’s reversion. IUB became
Bank of Baroda (Hong Kong), a restricted license bank.
• 2007: IB celebrates its centenary year.
• Indian Overseas Bank (IOB; established 1937) is a major bank based in Chennai
(Madras), with 1,400 domestic branches and six branches overseas. Indian Overseas
Bank has an ISO certified inhouse Information Technology department, which has
developed the software that 900 branches use to provide online banking to customers; the
bank has a target to expand online banking to 1200 branches by the end of financial year
2007-08. IOB also has a network of about 500 ATMs all over India and IOB's
International VISA Debit Card is accepted at all ATMs belonging to the Cash Tree and
NFS networks. IOB offers internet Banking (E-See Banking) and is one of the banks that
the Govt. of India has approved for online payment of taxes.

Loans, Credit Cards, Savings, Investment

Products
vehicles etc
[edit] History

1937: Shri.M.Ct.M. Chidambaram Chettyar establishes the Indian Overseas Bank

(IOB) to encourage overseas banking and foreign exchange operations. IOB started
up simultaneously at three branches, one each in Karaikudi, Madras (Chennai) and
Rangoon (Yangon). It then quickly opened a branch in Penang and another in
Singapore. The bank served the Nattukottai Chettiars, who were a mercantile class
that at the time had spread from Chettinad in Tamil Nadu state to Ceylon (Sri
Lanka), Burma (Myanmar), Malaya, Singapore, Java, Sumatra, and Saigon. As a
result, from the beginning IOB specialized in foreign exchange and overseas
banking

• 1988-89: IOB acquired Bank of Tamil Nadu in a rescue.

• 2000: IOB engaged in an initial public offering (IPO) that brought the government's share
in the bank's equity down to 75%

[edit] International expansion

• 1937-38: As mentioned above, IOB was international from its inception with branches in
Rangoon, Penang, and Singapore.
• 1941: IOB opened a branch in Malaya that presumably closed almost immediately
because of the war.
• 1946: IOB opened a branch in Ceylon.
• 1947: IOB opened a branch in Bangkok and re-opened others.
 • 1999: Bank of Commerce (BOC) merged with Bank Bumiputra Malaysia to form
Bumiputra-Commerce Bank (BCB) Berhad.
• 2005: BCB integrates with CIMB which the company is own by the Datuk Seri Nazir
Razak who is the youngest son of Malaysia's second (former) Prime Minister Tun Abdul
Razak from 1970 - 1976 and youngest brother of today's (2005) deputy prime minister
Dato Seri Najib Tun Razak.
• 2007: IOB takes over Bharat Overseas Bank.
• Punjab & Sind Bank is a major bank in Northern India. Of its almost 900 branches and
offices spread throughout India, almost 400 are in Punjab state, though the bank's
corporate headquarters is in New Delhi.
[edit] History
• In 1908, leading figures such as Bhai Vir Singh, Sir Sunder Singh Majitha and Sardar
Tarlochan Singh founded Punjab & Sind Bank to help the weaker section of the society
in their economic endeavours to raise their standard of life.
• Punjab and Sind bank was the one of the few banks in northern India who has honored
the obligations of the migrating people from Pakistan. In spite of the fact that all its major
branches were left in Pakistan and only a few branches were in India after partition.
• In 1980 Punjab & Sind Bank was among six banks that the Government of India
nationalized in the second wave of nationalizations. (The first wave had been in 1969
when the government nationalized the top 14 banks.)
• At some point in the 1970s Punjab & Sind Bank established a branch in London. In 1991
Bank of Baroda acquired Punjab & Sind Bank's London branch.

Punjab National Bank (PNB), was registered on May 19, 1894 under the Indian
Companies Act with its office in Anarkali Bazaar Lahore. The Bank, founded by Dyal
Singh Majithia and Lala Harkishen Lal,[1] is the second largest government-owned
commercial bank in India with about 4,500 branches across 764 cities. It serves over 37
million customers. The bank has been ranked 248th biggest bank in the world by Bankers
Almanac, London. Total Business of the bank for financial year 2007 is estimated to be
approximately US$60 billion. It has a banking subsidiary in the UK, as well as branches
in Hong Kong and Kabul, and representative offices in Almaty, Shanghai, and Dubai.

History
Punjab National Bank (PNB) was established in 1895 at Lahore. PNB has the distinction of
being the first Indian bank to have been started solely with Indian capital. In 1969, Punjab
National Bank was nationalized along with 13 other banks.

• 1895: PNB established in Lahore.

• 1904: PNB established branches in Karachi and Peshawar.
• 1939: PNB acquired Bhagwandas Bank.
• 1947: Partition of India and Pakistan at Independence. PNB lost its premises in Lahore,
but continued to operate in Pakistan.
 • 1961: PNB acquired Universal Bank of India
• 2003: PNB took over Nedungadi Bank, the oldest private sector bank in Kerala. Rao
Bahadur T.M. Appu Nedungadi, author of Kundalatha, one of the earliest novels in
Malayalam, had established the bank in 1899. It was incorporated in 1913, and in 1965
had acquired selected assets and deposits of the Coimbatore National Bank. At the time
of the merger with PNB, Nedungadi Bank's shares had zero value, with the result that its
shareholders received no payment for their shares. PNB also opnened a representative
office in London.
• 2004: PNB established a branch in Kabul, Afghanistan. PNB also opened a representative
office in Shanghai.
• 2005: PNB opened a representative office in Dubai.
• 2007: PNB established PNBIL - Punjab National Bank (International) - in the UK, with
two offices, one in London, and one in South Hall, Middlesex.
• 2008: PNB opened a branch in Hong Kong

Punjab National Bank was ranked at 1243 in the Forbes Global 2000

Loans, Credit Cards, Savings, Investment

Products
vehicles, Insurance etc.
Locker Facilities

Locker Operational Guidelines

Locker Operational Guidelines

Government Deposit Schemes

Government Deposit Schemes

Wealth Management&nsbp;Scheme

Wealth Management&nsbp;Scheme

History
Syndicate Bank, established in 1925 in Udupi (in Karnataka, India) by Upendra Ananth Pai,
Vaman Srinivas Kudva and Dr. T. M. A. Pai, is one of the oldest and major commercial banks of
India. At the time of its establishment, the bank was known as Canara Industrial and Banking
Syndicate Limited. The bank, along with 13 major commercial banks of India, was nationalized
on 19th July, 1969, by the Government of India.

Loans, Credit Cards, Savings, Investment

Products vehicles, Bajaj Allianz Life Insurance
(Insurance) etc.
[edit] Business
The business started with a capital of Rs. 8000. The first branch of the bank started its operations
in the year 1928 at Brahmavar in Dakshin Kannada District. By 1937, it had secured its
membership as a clearing house at Mumbai. The primary objective of the business was to
extended financial assistance to local weavers. Initially, the bank collected as low as two annas
from the door steps of the depositors daily through its agents. This type of system wherein the
agents of the bank come doorsteps to collect deposit is still prevailing in India and is referred to
as the Pigmy Deposit Scheme

Mergers
As time progressed, twenty banks merged with the Canara Industrial and Banking Syndicate
Limited including the Maharastra Apex Bank Limited and Southern India Apex Bank Limited.
The name of the bank was changed to Syndicate Bank Limited in the year 1964 and the head
office of the bank was shifted to Manipal. The bank expanded its operations not only on the
domestic front but also overseas. It has a branch in London and the bank manages National
Exchange Co. in Doha and Musandam Exchange Co. in Muscat. By 1978, it opened its 1000th
branch at Hauz Khas, Delhi. Currently it has over 2125 branches out of which 1523 are offering
corebanking-e-banking services under anywhere-anytime-anyhow banking.

Union Bank of India (UBI) is one of India's largest state-run banks and is also
listed on the Forbes 2000. It was inaugurated by Mahatma Gandhi. Starting
September 01, 2008, UBI has changed its corporate logo to identify itself differently
in changing times.

• Chairman: Mavila Vishwanathan Nair (from 1 April 2006)

[edit] History
United Bank of India was established in 1950 through the merger of four Bengali banks,
namely, Comilla Banking Corporation (founded by Narendra Chandra Datta in 1914 in what is
now Bangladesh), Bengal Central Bank (founded by Sri J.C. Das in 1918), Comilla Union Bank
(founded by Sri L.B. Dutta in 1922) and Hooghly Bank (founded by Sri D.N. Mukherjeee 1932).
UBI with its headquarter at Kolkata is predominantly seen in the eastern and north eastern parts
of the country.

• 1961 UBI merged in Cuttack Bank and Tezpur Industrial Bank.

• 1969 On 19th July, the Government of India nationalized UBI, along with 13 other major
Indian commercial banks.
• 1973 UBI acquired Hindusthan Mercantile Bank.
• 1976 UBI acquired Narang Bank of India
United Bank of India (UBI) has a pride place in the economy of the eastern and north-eastern parts of
the country. The Bank which was formed out of the amalgamation of four small banks of Bengal in
December 1950 has a long chequered history. One of the constituents of the Banks- Comilla Banking
Corporation Ltd. was established as early as in 1914. Other three constituents- the Bengal Central
Bank Ltd, the Comilla Union Bank Ltd. and Hooghly Bank Ltd. were established in 1918, 1922 and
1932 respectively. Subsequently, Cuttack Bank Ltd. and Tezpur Industrial Bank Ltd. got merged with
UBI in the year 1961. Hindusthan Mercantile Bank Ltd. and Narang Bank of India Ltd. were
amalgamated with UBI in 1973 and 1976 respectively. Since inception the Bank is known for its
involvement with the economic growth and social development.

Today, the banks are to operate in a more de-regulated and liberalised environment for which steps
are initiated for improvement of financial strength, enhanced supervision and control and growth in
competitive efficiency. To face the challenges of the 21st century banking, UBI has devised schemes
and developed products which are more customer friendly and technology oriented. At the same time
it has not lost sight of the importance of rural economy and more particularly the agriculture and allied
activities as well as SME sector which are the prime source of occupation for our masses.

Uco Bank, formerly United Commercial Bank, established in 1943 in Kolkata, is one
of the oldest and major commercial bank of India. Ghanshyam Das Birla, an eminent
Indian industrialist, during the Quit India movement of 1942, had conceived the idea
of organizing a commercial bank with Indian capital and management, and the
United Commercial Bank Limited was incorporated to give shape to that idea. The
bank, along with 13 other major commercial banks of India, was nationalized on
19th July, 1969, by the Government of India. Its name was changed to UCO Bank, in
1985, by an act of Indian Parliament. Currently (2005), the bank has 2000 Service
Units spread all over India, with two overseas branches in Singapore and Hong
Kong.

History
Vijaya Bank, a medium sized bank with presence across India was founded on 23rd October
1931 [1]by the late Shri A.B.Shetty and other enterprising farmers in Mangalore, Karnataka in
India.. The objective of the founders was essentially to promote banking habits, thrift and
entrepreneurship among the farming community of Dakshina Kannada district in Karnataka
State. The bank became a scheduled bank in 1958.

[edit] Growth & Nationalisation

Vijaya Bank grew steadily by merging nine smaller banks into it between 1963-68. Shri
M.Sunder Ram Shetty, who was then the Chief Executive of the bank is largely credited with
these mergers. The bank was nationalised on 15 April 1980.

[edit] Branches
As of 2008, the bank has a network of 1053 branches, 47 extension counters, 296 ATMs. Its
head office is located in Bangalore, India.

Vijaya Bank, was founded on 23rd October 1931 by late Shri A.B.Shetty and other
enterprising farmers in Mangalore, Karnataka. The objective of the founders was essentially
to promote banking habit, thrift and enterpreneurship among the farming community of
Dakshina Kannada district in Karnataka State. The bank became a scheduled bank in 1958.

Vijaya Bank steadily grew into a large All India bank, with nine smaller banks merging with
it during the 1963-68. The credit for this merger as well as growth goes to late Shri
M.Sunder Ram Shetty, who was then the Chief Executive of the bank. The bank was
nationalised on 15th April 1980. The bank has built a network of 1053 branches,47
Extention Counters and 296 ATMs as at 13.06.2008, that span all 28 states and 4 union
territories in the country.

Each branch provides effective and efficient services and significantly contributes to the
growth of the individual, and the nation.

Overview

Vijaya Bank has the highest number of branches in its home state Karnataka.

During the financial year 2007-2008 the bank has opened 73 Branches of which 5 extension
counters were upgraded .

In line with the prevailing trends, the bank has been giving greater thrust towards
technological upgradation of its operations.The bank has network of 1053 branches, 47
Extention Counters and 296 ATMs. [ As at 13.06.2008]

750 branches,38 extention counters, 11 service branches are functioning on CBS platform,
and at 368 centers, covering 93.30 % of Bank's business.

Realising your constantly evolving and diverse needs, the bank has diversified too. Entering
several new areas such as credit card, merchant banking, hire purchase and leasing, and
electronic remittance services.
747 - Branches /offices are under RTGS and 746 - Branches / offices are under NEFT

Vijaya Bank is one among the few banks in the country to take up principal membership of
VISA International and MasterCard International.

The Industrial Development Bank of India Limited commonly known by its acronym IDBI is
one of India's leading public sector banks and 4th largest Bank in overall ratings. RBI
categorised IDBI as "other public sector bank".It was established in 1964 by an Act of
Parliament to provide credit and other facilities for the development of the fledgling Indian
industry. It is currently the tenth largest development bank in the world. Some of the institutions
built by IDBI are The National Stock Exchange of India (NSE), The National Securities
Depository Services Ltd. (NSDL) and the Stock Holding Corporation of India (SHCIL)

Recent developments

To meet emerging challenges and to keep up with reforms in financial sector, IDBI has taken
steps to reshape its role from a development finance institution to a commercial institution. With
the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003, IDBI attained
the status of a limited company viz. "Industrial Development Bank of India Limited" (IDBIL).
Subsequently, the Central Government notified October 1, 2004 as the 'Appointed Date' and RBI
issued the requisite notification on September 30, 2004 incorporating IDBI Ltd. as a 'scheduled
bank' under the RBI Act, 1934. Consequently, IDBI, the erstwhile Development Financial
Institution of the country, formally entered the portals of banking business as IDBIL from
October 1, 2004, over and above the business currently being transacted.

As of July, 2006 the employees association of the IFCI have sought its merger with the idbi

Overview of development banking in India

The concept of development banking rose only after Second World War, successive
of the Great Depression in 1930s. The demand for reconstruction funds for the
affected nations compelled in setting up a worldwide institution for reconstructions.
As a result the IBRD was set up in 1945 as a worldwide institution for development
and reconstruction. This concept has been widened all over the world and resulted
in setting up of large number of banks around the world which coordinating the
developmental activities of different nations with different objectives among the
world. The Narashimam committee had recommended to give up its direct financing
functions and to perform only the promotional and refinancing role. However it is
the S.H.Khan committee appointed by RBI has reconted to transform the DFI
(development finance institution) into universal bankings institutions.

The financial institutions in India were set up under the strong control of both central and state
Governments, and the Government utilized these institutions for the achievements in planning
and development of the nation as a whole. The all India financial institutions can be classified
under four heads according to their economic importance that are:

• All-India Development Banks

• Specialized Financial Institutions
• Investment Institutions
• State-level institutions
• Other institutions

Industrial Development Bank of India (IDBI)

The Industrial Development Bank of India (IDBI) was established on July 1, 1964 under an Act
of Parliament as a wholly owned subsidiary of the Reserve Bank of India. In 16th February 1976,
the ownership of IDBI was transferred to the Government of India and it was made the principal
financial institution for coordinating the activities of institutions engaged in financing, promoting
and developing industry in the country. Although Government shareholding in the Bank came
down below 100% following IDBI’s public issue in July 1995, the former continues to be the
major shareholder (current shareholding: 52.3%). During the four decades of its existence, IDBI
has been instrumental not only in establishing a well-developed, diversified and efficient
industrial and institutional structure but also adding a qualitative dimension to the process of
industrial development in the country. IDBI has played a pioneering role in fulfilling its mission
of promoting industrial growth through financing of medium and long-term projects, in
consonance with national plans and priorities. Over the years, IDBI has enlarged its basket of
products and services, covering almost the entire spectrum of industrial activities, including
manufacturing and services. IDBI provides financial assistance, both in rupee and foreign
currencies, for green-field projects as also for expansion, modernisation and diversification
purposes. In the wake of financial sector reforms unveiled by the government since 1992, IDBI
evolved an array of fund and fee-based services with a view to providing an integrated solution
to meet the entire demand of financial and corporate advisory requirements of its clients. IDBI
also provides indirect financial assistance by way of refinancing of loans extended by State-level
financial institutions and banks and by way of rediscounting of bills of exchange arising out of
sale of indigenous machinery on deferred payment terms.

On July 29, 2004, the Board of Directors of IDBI and IDBI Bank accorded in principle
approval to the merger of IDBI Bank with the Industrial Development Bank of India
Ltd. to be formed incorporated under the Companies Act, 1956 pursuant to the IDB
(Transfer of Undertaking and Repeal) Act, 2003 (53 of 2003), subject to the
approval of shareholders and other regulatory and statutory approvals. A mutually
gainful proposition with positive implications for all stakeholders and clients, the
merger process is expected to be completed during the current financial year
ending March 31, 2005.

IDBI upholds the highest standards of corporate governance in its operations. The responsibility
for maintaining these high standards of governance lies with its Board of Directors. Two
Committees of the Board viz. the Executive Committee and the Audit Committee are adequately
empowered to monitor implementation of good corporate governance practices and making
necessary disclosures within the framework of legal provisions and banking conventions.

Foreign bank
ABN AMRO is a Dutch Bank, currently owned by a consortium of Royal Bank of Scotland
Group, Fortis, and Banco Santander. The bank is the result of the 1990-91 merger of
Amsterdam-Rotterdam (AMRO) Bank and ABN, whose history dated back to the founding of
the Nederlandsche Handel-Maatschappij in 1824.

Between 1991 and 2007, ABN AMRO was one of the largest banks in Europe and had
operations in about 63 countries around the world. In 2007 the bank was acquired by the
consortium,[1] which is splitting up the bank between the three aquiring banks. This process will
take till the end of 2009. The American retail assets were sold by ABN AMRO to Bank of
America in the months leading up to the acquisition.

2007 acquisition of ABN AMRO

ABN AMRO had come to a crossroads in the beginning of 2007. The bank had still
not come close to its own target of having an ROE that would put it among the top 5
of its peer group, a target that the then-just-appointed CEO, Rijkman Groenink, had
set in 2000. From 2000 until 2006, ABN AMRO's stock price had stagnated

There had been some calls, over the prior couple of years, for ABN AMRO to break
up, to merge, or to be acquired. On February 21, 2007, these calls became very
concrete, when the TCI hedge fund asked the Chairman of the Supervisory Board to
actively investigate a merger, acquisition or breakup of ABN AMRO, stating that the
current stock price didn't reflect the true value of the underlying assets. TCI asked
the chairman to put their request on the agenda of the annual shareholders'
meeting of April 2007.

Barclays PLC is a major global financial services provider operating in Europe, the United
States, the Middle East, Latin America, Australia, Asia and Africa. It is a holding company that
is listed in London, New York and Tokyo. It operates through its subsidiary Barclays Bank
PLC.

Barclays PLC is ranked as the 18th largest company in the world according to Forbes Global
2000 (2007 list) and the fourth largest financial services provider in the world according to Tier 1
capital ($32.5 billion). It is the third largest bank in the United Kingdom based on market
capitalisation.[1]

The bank's headquarters are at One Churchill Place in Canary Wharf, in London's Docklands,
having moved there in May 2005 from Lombard Street in the City of London.
[edit] History
This bank traces its roots back to 1690 in London. The name "Barclays" became associated with
the business in 1736, when James Barclay, son-in-law of one of the founders, became a partner
in the business. [2] In 1728, the bank moved to 54 Lombard Street, which was identified by the
'Sign of the Black Spread Eagle', over the years becoming a core part of the bank's identity

Organisational structure
Barclays is headed by Marcus Agius, the Group Chairman, who joined the Board on 1
September 2006 and succeeded Matthew Barrett as Chairman from 1 January 2007. Agius is also
the senior executive Director of the BBC and was formerly Chairman of BAA PLC, Chairman of
Lazard in London and a Deputy Chairman of Lazard LLC until 31 December 2006.

Reporting directly to the Group Chairman is John Varley, the Group Chief Executive, who is
responsible for the strategic direction and planning of all Barclays operations. Varley was
appointed to the role in September 2004 prior to which he served as Deputy Chief Executive
(January-September 2004) and Group Finance Director (2000-2003).

The operating units of Barclays are grouped under two umbrellas; Investment Banking and
Investment Management (IB&IM) and Global Retail and Commercial Banking (GRCB). IB&IM
oversees three core operating units: Barclays Capital, Barclays Global Investors (BGI) and
Barclays Wealth Management.

GRCB oversees multiple operating units. Principally it has responsibility for UK Retail Banking
(UKRB), Barclays Commercial Bank (formally UK Business Banking), Barclaycard and
International Retail and Commercial Banking (IR&CB).

[edit] Constituents of the Barclays Group

• Barclays Bank PLC
• Mercers Debt Collection Agency
• Barclays Bank Delaware (formerly Barclaycard US, originally Juniper Bank, acquired
2003)
• Barclays Retail Bank — UK clearing bank
• Barclays Commercial Bank — Dealing with medium and larger corporate UK
business.UK banks

[edit] Branches
Barclays has over 1800 UK high street branches (including former Woolwich branches) and it
has also joined up with the Post Office Ltd to provide personal banking services to customers
who live near a Post Office branch and those who need financial services such as secured or
unsecured loans.
Sponsorships
Since 2004, Barclays has sponsored the Premier League and, from 2006, the Churchill Cup.
Barclays also sponsored the Football League from 1987 until 1993, succeeding Today newspaper
and being replaced by Endsleigh Insurance. It also sponsored the 2008 Dubai Tennis
Championships.[11]

Planned merger with ABN AMRO

In March 2007 Barclays announced plans to merge with ABN AMRO, the largest bank in the
Netherlands.[13][14][15] However, on 5 October 2007 Barclays announced that it had abandoned its
bid,[16] citing inadequate support by ABN shareholders. Fewer than 80% of shares had been
tendered to Barclay's cash-and-shares offer.[17] This left the consortium led by Royal Bank of
Scotland free to proceed with its $99.9 billion counter-bid for ABN AMRO.

To help finance its bid for ABN AMRO, Barclays sold a 3.1% stake to China Development Bank
and a 3% stake to Temasek Holdings, the investment arm of the Singaporean government.

Leo Salom, CEO for Western European markets, estimated in February 2008 that the failed
takeover had cost the Barclays group "in the region of £8.67billion", but expressed a "personal
opinion that the outcome was overall the best outcome for the Group".

Citibank is a major international bank, founded in 1812 as the City Bank of New York, later
First National City Bank of New York. Citibank is now the consumer and corporate banking arm
of financial services giant Citigroup, one of the largest companies in the world. As of March
2007, it is the largest bank in the United States by holdings.[1]

Citibank has operations in more than 100 countries and territories around the world. More than
half of its 1,400 offices are in the United States, mostly in the New York City, Chicago, Miami,
and Washington DC metropolitan areas, as well as in California.

In addition to the standard banking transactions, Citibank offers insurance, credit card and
investment products. Their online services division is among the most successful in the field,
claiming about 15 million users.

[edit] History

[edit] Early history

Founded in 1812 as the City Bank of New York by a group of New York merchants, the bank's
first head was Samuel Thompson, who had been United States Postmaster General.
Subsequently, ownership and management of the bank was taken over by Moses Taylor, a
protégé of John Jacob Astor and one of the giants of the business world in the 19th century.
During Taylor's ascendancy, the bank functioned largely as a treasury and finance center for
Taylor's own extensive business empire

In 1865 the bank joined the U.S.'s new national banking system and became The National City
Bank of New York. By 1894, it was considered one of the largest banks in the United States, and
in 1897, it became the first major U.S. bank to establish a foreign department. In 1913 it was the
first contributor to the Federal Reserve Bank of New York.

In 1952, James Stillman Rockefeller was elected president and then chairman in
1959, serving until 1967. Stillman was a direct descendant of the Rockefeller family
through the William Rockefeller (the brother of John D.) branch; in 1960 his second
cousin, David Rockefeller, became president of Chase Manhattan Bank, National
City's long-time New York rival for dominance in the banking industry in America

Citibank

Following its merger with the First National Bank, the bank changed its name to The First
National City Bank of New York in 1955, then shortened it to First National City Bank in 1962.

The company organically entered the leasing and credit card sectors, and its introduction of USD
certificates of deposit in London marked the first new negotiable instrument in market since
1888. Later to become part of MasterCard, the bank introduced its First National City Charge
Service credit card - popularly known as the "Everything Card" - in 1967.[5]

During the mid-1970s, under the leadership of CEO Walter Wriston, First National City Bank
(and its holding company First National City Corporation) was renamed as Citibank, N.A. (and
Citicorp, respectively). By that time, the bank had created its own "one-bank holding company"
and had become a wholly owned subsidiary of that company, Citicorp (all shareholders of the
bank had become shareholders of the new corporation, which became the bank's sole owner).

HSBC Holdings plc (traditional Chinese: 滙豐控股有限公司; simplified Chinese: 汇丰控股有

限公司; pinyin: huìfēng kònggǔ yǒuxiàn gōngsī) (LSE: HSBA, SEHK: 0005, NYSE: HBC,
Euronext: HSB, BSX: 1077223879) is a public limited company incorporated in England and
Wales, headquartered in London.[1] It is the world's largest company and the world's largest
banking group, as calculated based on different metrics by the annual Forbes list of the world's
largest firms published on April 2, 2008.[2][3] In February 2008, HSBC was named the world's
most valuable banking brand by The Banker magazine.[4][5]

HSBC Holdings was established in 1990 to become the parent company to The Hongkong and
Shanghai Banking Corporation in preparation for its purchase of Midland Bank in Britain and in
change of domicile for the transfer of sovereignty of Hong Kong. The former was established
virtually simultaneously in Hong Kong and Shanghai in 1865 to finance the growing trade
between China and Europe by Scotsman Thomas Sutherland, who wanted a bank operating on
"sound Scottish banking principles". Its heritage in East Asia means it is a British institution with
an extensive international pedigree.
HSBC is well-known in banking circles for its diversified and risk-averse approach in its
business operations (to the extent that, for instance, Europe contributes around one-third of its
2007 earnings and commercial banking 30%).[6]

According to Forbes magazine, the world's largest bank (based on a composite score) is
currently the fourth largest bank in the world in terms of assets ($2,348.98 billion), the second
largest in terms of sales ($146.50 billion), the largest in terms of market value ($180.81 billion),
and the most profitable bank in the world with $19.13 billion in net income last year (compared
to Citigroup's $3.62 billion in the same period) as of April 2, 2008.[7]

It is also by far the largest bank in the United Kingdom and in Hong Kong, prints most of Hong
Kong's local currency in its own name, is a lender of last resort in many parts of the world,[8] and
since the end of 2005 has been the largest banking group in the world by Tier 1 capital.[9] By
acquisitions and organic expansion HSBC is currently pursuing a strategy of rapid growth in
booming China

History

For the history of the HSBC Group prior to the founding of HSBC Holdings plc in 1991, see The
Hongkong and Shanghai Banking Corporation.

• 1991 - shares are listed on the London and Hong Kong stock exchanges.
• 1992 - acquisition of Midland Bank in the United Kingdom.
• 1993 - the headquarters of HSBC Holdings moves from 1 Queens Road Central, Hong
Kong to 10 Lower Thames Street, London.
• 1997 - acquisition of Roberts SA de Inversiones of Argentina and Banco Bamerindus of
Brazil.
• 2000 - acquisition of Crédit Commercial de France; shares are traded on a fourth stock
exchange, Euronext in Paris.
• 2001 - acquisition of Demirbank of Turkey.
• 2002 - acquisition of Grupo Financiero Bital, SA de CV of Mexico.
• 2006 - announcement of pre-tax profits of £11.91 billion
• 2006 - acquisition of Banca Nazionale del Lavoro of Argentina adds 90 branches to the
South American business.
• 2006 - acquisition of Grupo Banistmo, the largest financial services company in Central
America, based in Panama.
• 2007 - acquisition of Banex in Costa Rica.
• 2007 - acquisition of The Chinese Bank in Taiwan

Standard Chartered Bank (LSE: STAN, SEHK: 2888,OTCBB: SCBFF) is a British bank
headquartered in London with operations in more than seventy countries. It operates a network
of over 1,700 branches and outlets (including subsidiaries, associates and joint ventures) and
employs 73,000 people.
Despite its British base, it has few customers in the United Kingdom and 90% of its profits come
from Asia, Africa, and the Middle East. Because the bank's history is entwined with the
development of the British Empire its operations lie predominantly in former British colonies,
though over the past two decades it has expanded into countries that have historically had little
British influence. It aims to provide a safe regulatory bridge between these developing
economies.

It now focuses on consumer, corporate, and institutional banking, and on the provision of
treasury services—areas in which the Group had particular strength and expertise.

Standard Chartered is listed on the London Stock Exchange and the Hong Kong Stock Exchange
and is among the top 25 constituent members of the FTSE 100 Index.

History
[edit] The early years

Standard Chartered in Gurgaon, India

The name Standard Chartered comes from the two original banks from which it was founded and
which merged in 1969 — The Chartered Bank of India, Australia and China, and The Standard
Bank of British South Africa.[1]

The Chartered Bank was founded by James Wilson following the grant of a Royal Charter by
Queen Victoria in 1853,[1] while The Standard Bank was founded in the Cape Province of South
Africa in 1862 by John Paterson.[1] Both companies were keen to capitalise on the huge
expansion of trade and to earn the handsome profits to be made from financing the movement of
goods from Europe to the East and to Africa.

In those early years, both banks prospered. Chartered opened its first branches in Bombay,
Calcutta and Shanghai in 1858, followed by Hong Kong and Singapore in 1859.[1] With the
opening of the Suez Canal in 1869 and the extension of the telegraph to China in 1871, Chartered
was well placed to expand and develop its business

From the early 1990s, Standard Chartered has focused on developing its strong franchises in
Asia, Africa and the Middle East, using its operations in the United Kingdom and North America
to provide customers with a bridge between these markets. Secondly, it would focus on
consumer, corporate and institutional banking and on the provision of treasury services - areas in
which the Group had particular strength and expertise
Deutsche Bank AG (literally "German Bank"; pronounced [ˈdɔɪtʃə]; ISIN: DE0005140008,
NYSE: DB) is an international Universal bank with a broad private clients franchise,
headquartered in Frankfurt, Germany. The bank employs more than 78,000 people in 76
countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging
markets.

Deutsche Bank has offices in finance-hubs, including Frankfurt, London, Birmingham, Moscow,
New York, Singapore, Sydney, Hong Kong and Tokyo. Furthermore, the bank is investing in
expanding markets such as the Middle East, Latin America, Central & Eastern Europe and Asia
Pacific.

The bank offers financial products and services for corporate and institutional clients along with
private and business clients. Services include sales, trading and origination of debt and equity,
risk management products such as derivatives, corporate finance, wealth management, retail
banking, fund management and transaction banking.

Deutsche Bank’s Chief Executive Officer and Chairman of the Group Executive Committee,
since 2002, is Josef Ackermann. The Bank, in terms of is revenues, is one of the top three
investment banks in the world.[citation needed] Deutsche Bank is listed on both the Frankfurt (FWB)
and New York stock exchanges (NYSE).

History

Deutsche Bank was founded in Germany in January 1870 as a specialist bank for foreign trade in
Berlin. Its first branches, inaugurated in 1871 and 1872 were opened in Bremen, Hamburg,
Frankfurt, Leipzig and Dresden.

The Bank’s first foray overseas came shortly afterwards, in Shanghai (1872) and London (1873).
Already, at this early stage, the bank was looking further afield, making investments in North
and South America, Asia and Turkey.

Furthermore, major projects in the early years of the bank included the Northern Pacific Railroad
in the US and the Baghdad Railway (1888). In Germany, the bank was instrumental in the
financing bond offerings of steel company Krupp (1885) and introduced the chemical company
Bayer to the Berlin stock market.

The bank merged with other local banks in 1929 to create Deutsche Bank und
DiscontoGesellschaft, at that point the biggest ever merger in German banking history. In 1937,
the company name changed back to Deutsche Bank

In 1957, these three banks merged to form Deutsche Bank AG with its headquarters in Frankfurt.
Two years later, the bank entered retail banking by introducing small personal loans. In the
1970s, the bank pushed ahead with international expansion, opening new offices in new
locations such as Moscow, London, Paris and Tokyo. In the 1980s, this continued with the
acquisition of Banca d’America e d’Italia, the first time the bank had acquired a sizeable branch
location in another European country.

In 2007, Deutsche Bank faced numerous losses due to deflating home prices in the U. S.
Deutsche Bank has practised bundling mortgages into Trust Funds. When borrowers default on
the loans, Deutsche Bank faces legal challenges revealing non-ownership of the mortgages

Management Structure

Until recently, there was no CEO at Deutsche Bank. The board was represented by a “speaker of
the board.” Today, Deutsche Bank has a Management Board whose members are: Dr. Josef
Ackermann (Chairman and CEO); Dr. Hugo Bänziger (Chief Risk Officer); Anthony Di Iorio
(Chief Financial Officer); Hermann-Josef Lamberti (Chief Operating Officer) and Stefan Krause.

The Group Executive Committee is the Management Board plus the heads of the bank’s business
areas, namely: Michael Cohrs (Global Banking); Anshu Jain (Global Markets); Juergen Fitschen
(Regional Management); Rainer Neske (Private & Business Clients); Kevin Parker (Asset
Management); and Pierre de Weck (Private Wealth Management).

The Supervisory Board of the bank is chaired by Dr. Clemens Börsig.

Commercial banking, Investment banking,

Products
Private banking, Asset management, Mortgages