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Foreign banks with Indian branches

Société Générale

The bank was founded by a group of industrialists and financiers during the second empire, on May 4, 1864. The bank's first chairman was the prominent industrialist Eugène Schneider (1805–1875) followed by Edward Blount, a Scotsman. The company started to hire employees and establish offices. Coverage of France went ahead at a steady rate. By 1870, the bank had 15 branches in Paris and 32 in the rest of France. It set up a permanent office in London in 1871. At the beginning, the bank used its own resources almost entirely for both financial and banking operations. In 1871, Société Générale moved into the public French issues market with a national debenture loan launched to cover the war indemnity stipulated in the Treaty of Frankfurt. In 1886, Société Générale was part of the bank consortium (along with the Franco-Egyptian Bank and the Crédit Industriel et Commercial) that financed the construction of the Eiffel Tower.   Today, Société Générale S.A. is a French multinational banking…
Score: 1.0

Deutsche Bank AG

Deutsche Bank was founded in Berlin in 1870 as a specialist bank for foreign trade. The bank's statute was adopted on 22 January 1870, and on 10 March 1870 the Prussian government granted it a banking licence. The statute laid great stress on foreign business: The object of the company is to transact banking business of all kinds, in particular to promote and facilitate trade relations between Germany, other European countries and overseas markets. One of the three founders were George Siemens whose father's cousin had founded Siemens and Halske, Adelbert Delbrück and L. Bamberger. Previous to the founding of Deutsche Bank, German importers and exporters were dependent upon English and French banking institutions in the world markets, a serious handicap in that German bills were almost unknown in international commerce, generally disliked and subject to a higher rate of discount than English or French bills.   Presently, Deutsche Bank AG is a German global banking and financial services…
Score: 1.0

Mizuho Bank

The history of Mizuho Financial Group (Mizuho) dates back to 1873 with the establishment of the Dai-ichi Bank, the first national bank in Japan. Mizuho itself was formed in 2000 from the merger of three of Japan’s largest and most established banks, the Dai-Ichi Kangyo Bank (DKB), Fuji Bank and the Industrial Bank of Japan (‘IBJ’). The diverse activities have now been integrated under ‘One Mizuho’ to create a global powerhouse. The history informs our present thinking, which values mutually beneficial long-term relationships and steady and sustainable growth. We recognize that in order to service our global client base, we need to continue to expand our presence in the world’s major markets. Our strategy is simple. EMEA is a key part of the bank’s global ambitions. We have been an active participant in the European market since 1952 and have continued to grow our presence ever since, with a network of 20 offices spread throughout the region. Having the balance sheet and credit rating…
Score: 1.0

Sumitomo Mitsui Banking Corporation(SMBC)

SMBC was formed by the merger of The Sumitomo Bank and Sakura Bank in April 2001. Sumitomo Bank was a major Japanese bank founded in 1895; Sakura Bank was a descendant of Mitsui Bank, another major Japanese bank founded in 1876, but with operations dating back to 1683, when the Tokugawa Shogunate granted Mitsui Takatoshi permission to act as a money changer.   In April 2001, Sakura Bank and Sumitomo Bank merge to form Sumitomo Mitsui Banking Corporation. (Capital stock: ¥1,276,7 billion). Sumitomo Mitsui Banking Corporation (SMBC) establishes a holding company named Sumitomo Mitsui Financial Group, Inc. (SMFG) through a share transfer, SMBC becomes a wholly owned subsidiary of SMFG in December 2002 and witnessed Wakashio Bank (established June 1996) merge with SMBC in the end of 1st quarter next year.   On July 2008, Sumitomo Mitsui buys a 2.1 per cent stake in Barclays Bank for £500m. In the beginning of 2nd quarter, a group of criminal hackers including Hugh Rodley, security insider…
Score: 1.0

The Bank of Tokyo-Mitsubishi UFJ Ltd.

Mitsubishi Bank was founded in 1880 by a former samurai, Iwasaki Yatarō, and was a core member of the Mitsubishi Group of companies. It merged with The Bank of Tokyo in 1996 to form The Bank of Tokyo-Mitsubishi, Ltd., which at that point was the world's largest bank in terms of total assets. In 1998, upon merger of the then second and third largest Swiss banks, Union Bank of Switzerland and Swiss Bank Corporation, the newly created UBS AG became the second largest in the world at the time, behind only the Bank of Tokyo-Mitsubishi. The Bank of Tokyo had historically focused on foreign exchange business since its foundation as the Yokohama Specie Bank in 1880, while Mitsubishi had had a stronger focus on domestic corporate and retail banking. Both banks were relatively healthy in the wake of the Japanese asset price bubble. Until the Tokyo-Mitsubishi merger took place in 1996, Sanwa Bank, which was based in Osaka and was the anchor of the Sanwa Group keiretsu, had been considered the…
Score: 1.0

State Bank of Mauritius (SBM)

The government of Mauritius established State Bank of Mauritius in 1973 under the name State Commercial Bank. In 1994, SBM opened its first overseas branch in Mumbai, India. In 1995, the bank was listed on the Stock Exchange of Mauritius. Then in 1997 the South African bank Nedcor acquired 20.1% of SBM’s voting equity. That same year SBM opened its second branch in India in Chennai, and the next year one in Hyderabad, India. Banque SBM Madagascar, a fully owned subsidiary of SBM, started banking operations in Madagascar in January 1998. The company operates from Antananarivo, the capital of Madagascar. The next year, SBM and Nedcor established SBM Nedcor International (SNI) as a 50/50 joint venture to engage in offshore banking, and SNI started operations in 2000. In order to avoid any conflict of interest with SBI International, Mauritius (formerly State Bank International), another joint venture offshore company between SBM and State Bank of India, SBM disinvested its 49 percent…
Score: 1.0

The Australia and New Zealand Banking Group Ltd.

ANZ is one of the leading Australian banks in the Asia-Pacific region. It has been aggressive in its expansion into the emerging markets of China, Vietnam and Indonesia. ANZ is also a leading bank in New Zealand as well as several Pacific Island Nation where it competes in many markets with fellow Australian bank Westpac. ANZ's arm in New Zealand is operated through a subsidiary company, ANZ National Bank, from 2003 to 2012, when it changed to ANZ Bank New Zealand upon merging the ANZ and National Bank brands. In March 2005, it formed a strategic alliance with Vietnam's Sacombank involving an acquisition of 10% of Sacombank’s share capital. As part of the strategic alliance, ANZ will provide technical assistance in the areas of risk management and retail and small business banking. ANZ has followed a similar strategy in China, where it acquired a 20% share in Tianjin City Commercial Bank in July 2006. It also negotiated a similar deal with Shanghai Rural Commercial Bank. In August…
Score: 1.0