What is the full form of IVB?
The IVB full form is ING Vysya Bank. IVB is a privately held Indian multinational bank headquartered in Bangalore that provides retail, wholesale, and private financial services. It was created by the Dutch ING Group in 2002 after it acquired ownership holdings in Vysya Bank.
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This was the first time an Indian bank and a foreign bank merged. Prior to this transaction, Vysya Bank had a seven-year strategic collaboration and shareholding arrangement with the former Belgian bank Banque Bruxelles Lambert, which was also acquired by ING Group in 1998.
IVB’s Features
ING Vysya Bank has competed in the financial care and insurance industries for over eighty years and today serves over two million Indian clients.
- The bank offers a vast array of financial services and products, organized according to three major business units: private retail and wholesale finance.
- ING Vysya, a private bank, operates on an advisory-driven approach. The bank continues to focus on sophisticated market analysis for the launch of new targeted solutions to support the high-end private banking sector.
- The retail operation of ING Vysya offers savings deposits, cheque accounts, savings deposits, retail banking and wealth management, consumer loans, rural or agricultural banking, and retail life insurance products through its 547 branches, 10 counters, 28 satellite offices, and 470 ATMs in the United States.
- The wholesale banking company in India provides a range of financial, transactional, and electronic banking products to corporate clients. The bank offers customer-centric products such as capital expenditure financing, trading and transaction-based services, foreign exchange, term loans, and cash management services.
- Agriculture & Rural Banking works with all agricultural and associated businesses, gold loans, SHG loans, and government-sponsored initiatives. Working Capital & Agriculture term funding for dairy, poultry, storage units, etc. are also offered to satisfy the diverse needs of the agricultural community.
