FINANCIAL BANKS

Overview

V Sai Deepika
Vishwa Vishwani Institute of Systems and Management
 Andhra Bank
• Andhra Bank was a medium-sized public sector bank (PSB) of India.
• It’s a public sector bank in India with total assets of 3,002 crore.
• Bhogaraju Pattabhi Sitaramayya founded Andhra Bank in 1923 in Machilipatnam, Madras Presidency.
• The bank was registered on 20 November 1923 and commenced business on 28 November 1923 with a paid
up capital of ₹100,000 (US$1,300) and an authorised capital of ₹1 million (US$13,000). In 1956, linguistic
division of States was promulgated and Hyderabad was made the capital of Andhra Pradesh.
• Andhra Bank opened a representative office in Dubai in May 2006 and another at Jersey City, New Jersey,
in June 2009.
• Andhra Bank adopted Gundugolanu village, West Godavari District, Andhra Pradesh – the birthplace of its
founder, Dr. Bhogaraju Pattabhi Sitaramayya. A comprehensive budget with an outlay of ₹55.5
million (US$730,000) was finalised for improving health, sanitation, education and social service facilities
in the village.
• Andhra Bank has also partnered with various financial institutions like Kotak Mahindra, Reliance, Birla sun
Life Mutual Fund and Fidelity Mutual Fund, assisting them in sales their Mutual fund products.
 According to the data from 2018-2019
Vision: To become a significant player,
providing full range of banking services Areas served •India,Dubai,Malaysia,Jersey City, United
through innovative customer centric States
products and to maximize stake holders' Key people J. Packirisamy
value. (MD & CEO)
Products Consumer banking, Credit cards, corporate
banking, finance and insurance, private
Mission: To work together towards banking, wealth management, Agricultural
delivering excellent customer service by Loans
leveraging on technology and human Revenue ₹20,977.26 crore (US$2.8 billion) (2018-19)
resources to attain world class performance Operating income ₹5,023.12 crore (US$660 million) (2018-19)
standards. Net income ₹−2,786.13 crore (US$−370 million) (2018-
19)
Merger and Acquisition: Andhra Bank Total assets  ₹249,311.41 crore (US$33 billion) (2018-19)
was merged with Union Bank of India in Number of 20,346 (2018-19)
employees
April 2020
Capital ratio 13.68% (2018-19)
Bank of Baroda
• Bank of Baroda (BOB or BoB) is an Indian nationalized banking and financial services company
headquartered in Vadodara. It is the fourth largest nationalized bank in India.
• The Maharaja of Baroda, Sayajirao Gaekwad III, founded the bank on 20 July 1908 in the Princely
State of Baroda, in Gujarat.
• The bank has 107 branches/offices in 24 countries (excluding India) including 61 branches/offices of the
bank, 38 branches of its 8 subsidiaries and 1 representative office in Thailand. The Bank of Baroda has a joint
venture in Zambia with 16 branches
• Bank of Baroda became the first National Supporter (Indian sponsor) of the FIFA U-17 World Cup India 2017,
the first football World Cup to be hosted in India.
• Bank of Baroda sealed a 3-year principal sponsorship contract with Olympics 2016 Women's badminton
silver medalist P. V. Sindhu and India's No 1 ranked Men's Badminton player Srikanth Kidambi
• Bank of Baroda acquired the semi naming rights of Sikanderpur metro station in Gurugram. This is the first
time that a public sector bank has bagged the naming right of a metro station.

Vision:It has been a long and eventful
journey of almost a century across 25
countries which was started in 1908 from a
small building in Baroda to its new hi-rise
and hi-tech Baroda Corporate Centre in
Mumbai.
Headquarters Vadodara, Gujarat,India
Number of 8,214 Branches10,033 ATMs (2020)
locations
Services •Asset management, Commercial banking, Financial
services, Investment banking, Mortgage loans, Private
banking, Private equity, Retail banking, Savings,
Securities, Wealth management

Revenue  ₹82,859.5 crore (US$11 billion) (2021)

Mission:To be a top ranking National
Operating  ₹41,173.5 crore (US$5.4 billion) (2021)
Bank of International Standards committed income
to augmenting stake holders' value through
concern, care and competence. Net income  ₹829 crore (US$110 million) (2021)
Total assets  ₹1,155,364.8 crore (US$150 billion) (2021)
Merger and Acquisition: Vijaya Bank Number of 82,000+ (2021)
and Dena Bank were merged from April 1, employees
2019 Subsidiaries •Bank of Baroda Uganda Limited
•Bank of Baroda Tanzania Limited
•Nainital Bank

Capital ratio 14.99%

Union Bank of India
• Union Bank of India, commonly referred to as Union Bank  is an Indian government-owned bank with
120+ million customers and a total business of US$106 billion.
• Union Bank of India was established on 11 November 1919 in Bombay by Seth Sitaram Poddar.
• The bank's corporate office was inaugurated by Mahatma Gandhi.
• At the time of India's independence in 1947, the bank had four branches – three in Mumbai and one
in Saurashtra in trade centres.
• Vision:The main vision of union bank of India is to become the bank of first choice in its chosen areas by
building beneficial and lasting relationships with customers through a process of continuous improvement
• Mission: The main of union bank of India is to be a customer centric organization known for its
differentiated customer service. This bank is to offer a comprehensive range of products to meet all financial
needs of customers.
• Merger and Acquisition: On 30 August 2019, Finance Minister Nirmala Sitharaman announced
that Andhra Bank and Corporation Bank would be merged into Union Bank of India.
Headquarters Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman
Point, Mumbai, Maharashtra
, India

Number of locations 9,316 branches

12,957 ATMs (March 2021)
Services Consumer banking, corporate banking, finance and insurance, investment
banking, mortgage loans, private banking, wealth management

Revenue  ₹80,104.19 crore (US$11 billion) (FY21)

Operating income  ₹19,259 crore (US$2.5 billion) (FY21)
Net income  ₹2,905.97 crore (US$380 million)(FY21)
Total assets  ₹1,071,705.84 crore (US$140 billion) (FY21)
Total equity  ₹64,068.44 crore (US$8.4 billion) (FY21)
Owner Government of India (89.07%)
Number of 78,202 (FY2)
employees
 India First Life Insurance Company
• It was incorporated in November 2009 and is headquartered in Mumbai. It recorded more than INR 2 billion in
turnover in just four and a half months since the insurance company became operational.
• Company is a joint venture of India's public sector banks (Bank of Baroda (65%) and Union Bank of
India (9%), and UK's financial and investment company, Legal & General (26%). The company has paid-up
share capital of ₹ 663 crore.
• This company was the first one in the history of IndiaFirst Life Insurance, wherein a private equity fund has
taken an interest in a life insurance company.
• IndiaFirst Life offers a diverse series of 31 need-based products (as of 31 March 2020), catering to varied
customer segments, leveraging multiple distribution capabilities, and augmenting various investment options.
Products and services: Founded 16 November 2009; 12 years ago
• Retirement plans Headquarters Mumbai, Maharashtra, India
• Child life insurance investment plans Area served All India
• ULIP or unit-linked insurance Key people Ms.R.M.Vishakha
• Endowment life insurance plans etc (MD& CEO)
Products Individual and Group Insurance Plans
Merger and Acquisition: Bank of Baroda Services Life Insurance
Acquires Union Bank’s 21% stake in India first CEO R.M Vishakha
life insurance for Rs. 766Cr. BoB and UBI’s joint
Number of employees 2,800+
venture
Branches 27
Turnover Rs.500 crore(2019)