ING Vysya Bank

YEAR                                                           EVENTS
 1930 - The Bank was Incorporated at Bangalore City.  The Bank
 transacts
               general banking business of every description.
 
 1958 - The Bank was granted a licence by the Reserve Bank of India
 to
               carry on banking business.
 
 1972 - With effect from 1st January, the Bank was upgraded to `B'
 class.
 
 1978 - 80,000 Right shares issued at par 1977 in prop. 2:1.
 
 1985 - 6,00,000 Rights equity shares issued at par in prop. 1:2.
 
 1987 - The Vysya Bank Leasing, Ltd. was incorporated on 4th January,
 as
              a subsidiary of the Company to take up equipment leasing
 and such
              other forms of business as are permissibile through the
              subsidiary.  The Vysya Bank Housing Finance, Ltd., is
 also a
              subsidiary of the bank.
 
           - 6,00,000 Rights equity shares issued at par in prop.
 1:2.
 
 1990 - The bank introduced the Investors' club activity to render
 buying
              and selling of capital market investments on behalf of
 its
              members apart from giving loans and providing security
 for the
              scrips deposited with the bank.
 
 1993 - At the Extraordinary General Meeting held on 27th September,
 a
              Special Resolution was passed for issue of Rights Shares
 to the
              shareholder and Preferential Allotment of Shares to the
              Managment Group and Employees.  The allotment of 24 lakh
 shares
              was made to Management Group on 10th December, which was
 kept in
              abeyance vide RBI directive dated 15th December.
 
 1994 - The Bank launched new products like VYS STORE - credit
 facility
               for constructions of godowns, agri-vehicles for
 transportation of
               produce and inputs and cash credit for agricultural
 lendings.
 
            - A new division was set up to strengthened merchant
 banking
              activities of the bank.  The bank underwrote 118 capital
 issues
              aggregating Rs 34.47 crores.
 
            - A separate cell managed by professionals specialised in
              investment management was formed to look after the
 equity
              investments of the bank.
 
           - The Company's schemes such as vysprime and vysinvest
 exist
              exclusively for NRIs.  Vysbuy for facilitating purchase
 of
              consumer articles, vysmobile for purchase of vehicles
 and
               vysequity facilitating purchase of shares.
 
            - 2,43,600 shares were allotted at a premium of Rs 10 per
 share to
               the employees of the bank and subsidiary companies.
 
            - The RBI has revoked its order letter dated 29th
 September, and
               permitted allotment as follows: (i) Issue of 2,66,500
 shares of
               Rs 10 each in the ratio of 50 shares to each employee
 of its
               subsidiary companies at a premiuim of Rs 10 per
 shares,
               (ii) Issue of 6,00,000 shares of Rs 10 each to the
 Management
               Group at a premium of Rs 364.25 per shares, (iii)
 After
               Completion of the above issues, rights issues to the
 shareholders
               including (i) and (ii) in the ratio of 5 shares for
 every share
               at a price in accordance with pricing guidelines of
 RBI.
 
            - 6 lakhs shares were allotted to Management Group at a
 premium of
               Rs 364.25 as approved by RBI.  Balance of 18 lakh
 shares awaited
               for the decisive of the Company.
 
            - 1200 shares allotted.
 
 1995 - The bank launched two new schemes, namely Vysdouble Scheme -
              doubles money in less than 57 months & Vyswift Scheme -
 A scheme
              for fast collection of out station cheques.
 
           - The banks has signed a MOU with Bank Brussels Lambert
 for
              strategic alliance.  It enable the bank to globalise
 its
              operations.
 
           - The bank has appointed M/s. KPMC Peat Marwick to conduct
 a study
              of the bank for re-engineering the business processes of
 the
              bank and suggest an appropriate business strategy to
 remodel the
              bank as a World Class Bank.
 
           - 131,32,830 No. of equity shares of Rs 10 each at a prem.
 of Rs 25
              per share allotted to the existing shareholders on
 rights basis
              in the ratio of 5:1.
 
 1996 - A MOU was signed with MC Securities Ltd., London a group
 company
              of Bank Brussels Lambert for establishing a joint
 venture company
              for International Investment Banking.
 
           - 834,800 No. of equity shares of Rs 10 each at a premium
 of Rs
              316.07 per share allotted on preferential basis to BBL
 Mauritius
              Holidings, a wholly owned subsidiary of Bank Brussels
 Lavibert,
              Belgium and 13,435 No. of equity shares of Rs 10 each at
 a
              premium of Rs 25 per share allotted out of abeyance
 cases of
              Rights issue.
 
 1998 - Sri T. B. Dhananjaya Rao, Director, expired on 1st October. 
 
            - The Bank set-up V-SATs in 6 Metros using DAMA technology
 as an internal 
               communication support system through which 200 of the
 Bank's Branches are 
               proposed to be linked to the Bank's Corporate Office
 for data transmission and 
               E-Mail Communication.
 
 1999 -The Bank launched Insurance linked Premium Savings Bank Account
 for
              individuals. 
 
           - The Bank has signed an MOU with ING for distribution of
 Life Insurance products, as 
              and when the insurance industry opens up in India. 
 
 2000 - Indus Software Private Limited a Pune-based software products
              company has signed an agreement with the Vysya Bank
 Ltd., a
              leading private sector bank in India for the
 implementation of
              its product, ISI (lending solutions from Indus).
 
           - Vysya Bank Ltd. signed a MoU with Global TeleSystems Ltd.
 to
              utilise their e-commerce payments processing
 infrastructure.
 
           - The Bank has signed a memorandum of understanding with
 the ING
             group to pick up 26% stake in ING Asset Management
 Company for a
             nominal amount of Rs 10 crore.
 
           - Vysya Bank has signed an MoU with Satyam Infoway for its
 foray
              into e-commerce.
 
           - The Vysya Bank signed an MoU with Siri Technologies Pvt
 for a
              technical and marketing partnership to develop,
 customise and
              implement remittance/payment processing, software
 solutions
             according to a press release issued by Vysya Bank.
 
           - ING Insurance, a sub-holding company of Dutch financial
 major ING
             Group, has tied up with Bangalore-based Vysysa Bank to
 enter the
             Indian life insurance market.
 
           - Vysya Bank is likely to review its joint venture
 agreement with Citibank
              for the credit card business.
 
           - Bangalore-based private sector bank Vysya Bank is to
 launch a floating
             rate deposit.
 
           - ING Insurance, Vysya Bank Ltd. and the Damani Group have
 signed an agreement
             to form a life insurance joint venture in India.
 
           - The Bank announced launching of VysyAMulya project,
 envisaging an investment of 
              about Rs. 60 Crores spread over two financial years,
 which involves setting up of a Data 
              Centre and networking of 125 branches for online
 real-time Centralised Processing through 
              Sanchez's Core banking suite of products -
 PROFILE/Anyware - IBS.  
 
           - The Bank has entered into an agreement with IBM India Ltd
 for the IT related hardware/software 
              supply and system integration.  
 
            - The Bank has also entered into an agreement with M/s.
 Bangalore Labs for providing 
               suitable and stable communications network design and
 layout, which will allow the 
               bank to operate 24 hours, seven days a week.
 
             - The Bank launched, during the year, two new technology
 aided products viz., - 
                Vys-Sambandh and Access Plus.
 
              - Sri K R Ramamoorthy, has been re-appointed as the
 Chairman and Chief Executive 
                 Officer of the Bank for a period of three years.
 
 2001 - Vysya Bank named a new Managing Director Mr. K
 Balasubramanian, sees this as
               the first step in its long-term succession plan for the
 Bank's top job.
 
            -  :Vysya Bank Ltd as part of its restructuring exercise,
 has merged six regional offices and will be opening                  
               30 branches, including extension counters, in the next
 three years
 
 2002-Vysya Bank announces Employees Voluntary Retirement scheme.
 
 -Vysya Bank Ltd has informed that the following changes have been
 approved consequent to increase in the stake of equity of BBL (ING
 Group) from 20% to 43.99%.
 
 The following Directors resigned from the office of Director w.e.f
 September 09, 2002:a) Mr. M K Ramachandra,b) Mr. H N Tarachandani, c)
 Mr. Yadalam A Subramanyam, d) Mr. K V K Seshavataram e) Mr. G B S
 Raju. Mr. Peter Alexander Smyth, a nominee of ING Group has been
 appointed as Director in the casual vacancy caused by the resignation
 of Mr. M K Ramachandra w.e.f. September 09,2002. Mr. Jacques P M Kemp,
 a nominee of ING Group has been appointed as Director in the casual
 vacancy caused by the resignation of Mr. G R S Raju w.e.f. September
 09, 2002.
 
 -Vysya Bank Ltd has informed that RBI has sanctioned the appointment
 of Mr Bart Hellemans as Managing Director & Chief Executive Officer
 and Mr G Mallikarjuna Rao as part time Chairman of the Bank.  Mr K
 Balasubramanian the outgoing Managing Director will continue as
 non-executive Director of the Bank.
 
 -G Mallikarjuna Rao takes charge as part time Chairman of Vysya
 Bank.
 
 -Vysya Bank Ltd has informed BSE that The Board of Directors through
 a Circular Resolution passed on November 9, 2002 has noted the
 resignation of Mr Leo Willy Janssen, nominee of ING from the Board of
 the Bank.
 
 2003
 
 -Vysya Bank Ltd has informed BSE that the Board of Directors of Vysya
 Bank Ltd at their meeting held on January 30, 2003 took on record the
 following: 1. Appointment of Arun Thiagrajan as Additional Director
 2. Appointment of K R Ramamorthy as Additional Director effective
 February 12, 2003 3. Resignation of A P Rao as Director effective Jan
 30, 2003.
 
 -Western Union, the top American money transfer firm has tied up with
 ING Vysya Bank for
 inward money transfer.
 
 -ING Group acquired 23.99% equity of Vysya Bank, and the name has
 been changed to
 ING Vysya Bank Ltd.
 
 -Change in the Management Structure:
 Appointment of Mr.Arun Thiagrajan as Additional Director
 Appointment of K Ramamorthy as Additional Director and 
 Resignation of A P Rao as the Director.
 
 -Mr Robin Roy, the point man for retail banking of ING Vysya Bank Ltd
 has resigned.
 
 -Mr Prakash G Apte has been appointed as Additional Director on the
 board of the bank.
 
 -ING Vysya has launched 3 new endowment products:
 Powering Life - Limited payment endowment plan
 Creating Life - Child Protection plan
 Reassuring Life - Endowment plan with revisionary bonus.
 
 -ING Vysya Bank Ltd has reported a 26% growth in its net profit for
 the year.
 
 -ING Vysya Bank has entered into a subscription and shareholders
 agreement with
 Nationale Nederlanden Interfinance BV, Kirti Equities Pvt Ltd and ING
 Investment 
 Management (India)Pvt Ltd.
 
 -Crisil assigs AA+ rating for the 200cr bond programme of ING vysya
 bank.
 
 -ING vysya bank has launched new Saving Bank Account called Orange,
 with
 facilities like personal accident cover, free annual accident cover.
 
 -ING  Vysya's new Registered office: at No 22, M G Road Bangalore
 560001.
 Ph.Nos : 080-5005000 & 5559222 Fax No. 080-5005555.
 
 -ING-Vysya has  raised Rs.200cr through tier-II capital bonds at
 6.25%. The bonds 
 are rated AA plus by both Fitch and Crisil.
 
 -Medvin Finance Private Ltd., shareholder of the Bank and a
 constituent of GMR Group of Companies, Indian Promoters, sells 452521
 equity shares amounting to 2% of the paid up capital of the company
 
 -Resignation of Mr. Ramsay Alexander Urquhart and Mr. Jacques P M
 Kemp from the Board of the Bank. Further, the Board of Directors
 appointed i) Mr. Lars Kramer; ii) Mr. Cees Ovelgonne and iii) Mr.
 Peter Staal as Directors of the Bank in the casual vacancies arising
 out of resignation of Mr. Jacques P M Kemp, Mr. Ramsay Alexander
 Urquhart and Mr. K 

 Balasubramanian respectively as Directors.
 
 -ING Vysya Bank received Rs 4.35 crore to take back bad loans from
 its erstwhile housing finance arm that had been acquired by Dewan
 Housing Finance
 
 -iGate Global Solutions signs outsourcing deal worth approx 
 million with ING Vysya Bank
 
 -Toyota signs agreement with ING Vysya for auto finance
 
 -ING Vysya Life signed an agreement with public sector Madras
 Fertiliser Ltd (MFL) to sell its life insurance policies to farmers,
 using the fertiliser company's dealer network in rural sector
 
 2004
 
 -Dolphin Milk forges alliance with ING Vysya Bank
 
 2005
 
 -ING Vysya Bank names Mr Ned Swarup as CEO
 
 -ING Vysya Bank launches an `Advantage Current Account' for mid-sized
 businesses
 
 2006
 
 -ING Vysya Bank Ltd has informed that the Company has appointed Mr.
 Vaughn Richtor as its new Chief Executive Officer (CEO) and Managing
 Director for a three-year term, following approval from the Reserve
 Bank of India.
 
 -ING Vysya Bank Ltd delists securities of the Bank from Bangalore
 Stock Exchange Ltd.