Icici Bank and Bank of Rajasthan Merger

Topics: Banks of India, Bank, Names of large numbers Pages: 4 (1099 words) Published: September 12, 2013
Meaning : A general term used to refer to the consolidation of companies. A merger is a combination of two companies to form a new company, while an acquisition is the purchase of one company by another in which no new company is formed.

Basic information of icici bank (Industrial Credit and Investment Corporation of India Bank):

ICICI Bank was established by the Industrial Credit and Investment Corporation of India, an Indian financial institution, as a wholly owned subsidiary in 1994. The parent company was formed in 1955 as a joint-venture of the World Bank, India's public-sector banks and public-sector insurance companies to provide project financing to Indian industry.[10][11] The bank was initially known as theIndustrial Credit and Investment Corporation of India Bank, before it changed its name to the abbreviated ICICI Bank. The parent company was later merged with the bank.

Current information: Based on 2013 information, it is the second largest bank in India by assets and third largest by market capitalisation. It offers a wide range of banking products and financial services to corporate and retail customer through a variety of delivery channels and through its specialised subsidiaries in the areas of investment banking. life and non-life insurance, venture capital and asset management. The Bank has a network of 3,350 branches and 10,486 ATM's in India, and has a presence in 19 countries.

ICICI Bank is one of the big four banks of India, along with SBI,PNB,CANARA BANK

BANK OF RAJASTHAN :

It was set up at Udaipur in 1943 with an initial capital of Rs.10.00 lacs. An eminent Industrialist Late Seth Shri Govind Ram Seksaria was the founder chairman. It was classified as the Scheduled Bank in 1948. The Bank also established a rural (Gramin) bank Mewar Anchlik Gramin Bank in Udaipur District in Rajasthan on 26 January 1983.

The bank's central office is located at Jaipur, although its registered office is in Udaipur. Presently the bank...
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