Sign In | Sign Up

Nationalized Banks

Punjab & Sind Bank

On 24 June 1908, Bhai Vir Singh, Sir Sunder Singh Majitha, and Sardar Tarlochan Singh established Punjab & Sind Bank. On 15 April 1980 Punjab & Sind Bank was among six banks that the Government of India nationalised in the second wave of nationalisations. (The first wave had been in 1969 when the government nationalised the top 14 banks.) In the 1960s Punjab & Sind Bank established a branch in London. In 1991 Bank of Baroda acquired Punjab & Sind Bank's London branch at the behest of the Reserve Bank of India following Punjab & Sind's involvement in the Sethia fraud in 1987.      Today, Punjab & Sind Bank is a government-owned bank (79.62%), with headquarters in New Delhi. Of its 1466 branches spread throughout India, 623 branches are in Punjab state. Its net profit is Rs. 121.35 crores and net NPA is 3.55% for the year ending 2014-15. The bank's operating profit for the year ending 2014-15 is Rs. 775.45 crores. Total business of the bank was Rs. 1,51,511 crores for the year ending…
Score: 1.0

Allahabad Bank

Founded in Allahabad in 1865, Allahabad Bank is a nationalized bank with its headquarters in Kolkata, India. As of 31 March 2012, Allahabad Bank had over 2,500 branches across India. The bank did a total business of INR 3.1 trillion during the FY 2012-13. The bank has a branch in Hong Kong and a representative office in Shenzen.   The bank's market capitalization in May 2016 was US$543 million and it ranked #1834 on the Forbes Global 2000 list.   The government's ownership of Allahabad Bank shrank in October 2002 after the bank engaged in an Initial Public Offering (IPO) of ₹100 million (US$1.6 million) of shares, each with a face value ₹ 10. The IPO reduced the Government's shareholding to 71.16%. Then in April 2005 the bank conducted a second public offering of ₹ 100 million of shares, each with a face value ₹ 10 and selling at a premium of ₹ 72. This offering reduced the Government's ownership to 55.23%.   In June 2006 the bank opened its first office outside India when it opened a…
Score: 1.0

Central Bank of India

The Central Bank of India was established on 21 December 1911 by Sir Sorabji Pochkhanawala with Sir Pherozeshah Mehta as Chairman, and was the first commercial Indian bank completely owned and managed by Indians.      Central Bank of India, a government-owned bank, is one of the oldest and largest commercial banks in India. It is based in Mumbai which is the financial capital of India and capital city of state of Maharashtra. The bank has 4730 branches, 5319 ATM's and 4 extension counters across 27 Indian states and three Union Territories. At present, Central Bank of India has overseas office at Nairobi, Hong Kong and a joint venture with Bank of India, Bank of Baroda, and the Zambian government. The Zambian government holds 40 per cent stake and each of the banks has 20 per cent. Recently it has also opened a representative office at Nairobi in Kenya.As on 31 March 2015, the bank's reserves and surplus stood at 2.84 M(approx). Its total business at the end of the last fiscal amounted…
Score: 1.0

Canara Bank Limited

Ammembal Subba Rao Pai, a philanthropist, established the Canara Hindu Permanent Fund in Mangalore, India, on 1 July 1906.The bank changed its name to Canara Bank Limited in 1910 when it incorporated.   Today, Canara Bank is one of the major public sector banks owned by the Government of India. Its headquarters is in Bengaluru. As it was established at Mangalore in 1906, that also makes it one of the oldest public sector banks in the country. The government nationalized the bank in 1969. As of 31 March 2017, the bank had a network of 6083 branches and more than 10519 ATMs spread across India. The bank also have offices abroad in London, Hong Kong, Moscow, Shanghai, Doha, Bahrain, South Africa, Dubai, Tanzania and New York.      Canara Bank sponsors two regional rural banks (RRB): Kerala Gramin Bank Pragathi Krishna Gramin Canara Bank is a state level led bank in Kerala.
Score: 1.0

Bank of Maharashtra

Bank of Maharashtra was founded by a group of visionaries led by the late V. G. Kale and the late D. K. Sathe and registered as a banking company on 16 September 1935 at Pune.   The bank was registered on 16 September 1935 with an authorised capital of ₹ 1 million, and began business on 8 February 1936. Bank's financial assistance to small units has given birth to many of today's industrial houses. After nationalization in 1969, the bank expanded rapidly.   Shri Narendra Singh who had assumed the office of Chairman and Managing Director from 1 February 2012, left his office on September 30, 2013 on attaining superannuation. Shri Sushil Muhnot was the Chairman and Managing Director before Ravindra Prabhakar Marathe. Ravindra Prabhakar Marathe is the current MD and CEO.   Now, it is a major public sector bank in India. Government of India holds 81.61% of the total shares. The bank has 15 million customers across the length and breadth of the country served through 1897 branches as of  April…
Score: 1.0

Bank of Baroda (BoB)

In 1908, Maharaja Sayajirao Gaekwad III, set up the Bank of Baroda (BoB), with other stalwarts of industry such as Sampatrao Gaekwad, Ralph Whitenack, Vithaldas Thakersey, Tulsidas Kilachand and NM Chokshi. Two years later, BoB established its first branch in Ahmedabad. The bank grew domestically until after World War II   The bank, along with 13 other major commercial banks of India, was nationalized on 19 July 1969, by the Government of India and has been designated as a profit-making public sector undertaking (PSU).   Today, Bank of Baroda (BoB) is an Indian state-owned International banking and financial services company headquartered in Vadodara (earlier known as Baroda) in Gujarat, India.It is the second largest bank in India, next to State Bank Of India. Its headquarters is in Vadodara, it has a corporate office in Mumbai.   Based on 2017 data, it is ranked 1145 on Forbes Global 2000 list. BoB has total assets in excess of ₹3.58 trillion, a network of 5493 branches in India and…
Score: 1.0

Bank of India

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, Parsees, and Jews helped establish the present Bank of India in 1906 in Bombay. It was the first bank in India whose promoters aimed 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.   Now, Bank of India is commercial bank with headquarters at Bandra Kurla complex, Mumbai. Founded in 1906, it has been government-owned since nationalization in 1969. However, some branches are individually owned, such as Kandia, Indonesia, etc. Bank of India has 5100 branches as on 31 January 2017, including 56 offices outside India, which includes five subsidiaries, five representative offices, and one joint venture. BOI is a founder member of SWIFT (Society for Worldwide Inter…
Score: 1.0

Andhra Bank

Bhogaraju Pattabhi Sitaramayya founded Andhra Bank in 1923 in Machilipatnam, Andhra Pradesh. The bank was registered on 20 November 1923 and commenced business on 28 November 1923 with a paid up capital of ₹100,000 (US$1,600) and an authorised capital of ₹1 million (US$16,000) In 1956, linguistic division of States was promulgated and Hyderabad was made the capital of Andhra Pradesh. The registered office of the bank was subsequently shifted to Andhra Bank Buildings, Sultan Bazar, Hyderabad.   Andhra Bank is a medium-sized public sector bank of India, with a network of 2803 branches, 4 extension counters, 38 satellite offices and 3636 automated teller machines (ATMs) as of 31 Mar 2016. During 2011–12, the bank entered the states of Tripura and Himachal Pradesh. The bank now operates in 25 states and three Union Territories. Andhra Bank has shifted its headquarters in Hyderabad, Telangana, India.   The Government of India owns 63.97% of its share capital as on 31 Dec 2015. The state owned…
Score: 1.0