What is the full form of IVB?

The full form of IVB is ING Vysya Bank. After purchasing stock holdings in Vysya Bank in 2002, the Dutch ING Group established IVB, an Indian multinational bank with retail, wholesale, and private financial services with headquarters in Bangalore.

This merger marked the first time an Indian and a foreign bank came together. Before this transaction, Vysya Bank and the former Belgian bank Banque Bruxelles Lambert, which ING Group also acquired in 1998, had a seven-year strategic collaboration and shareholding arrangement.

Functions of IVB

ING Vysya Bank has been competing in the financial care & insurance markets for over 80 years and currently employs more than two million Indian customers.

• The bank offers a comprehensive range of financial products and services and is organised into three major business units: private retail, wholesale financing, and commercial banking.
• The business model used by ING Vysya is advisory-driven. The bank’s primary focus is still conducting in-depth market analyses in preparation for introducing new, targeted products to help the high-end private banking industry.
• With 547 branches, ten counters, 28 satellite offices, and 470 ATMs nationwide, ING Vysya’s retail operation offers savings deposits, checking accounts, savings deposits, retail banking and wealth management, consumer loans, rural or agricultural banking, and retail life insurance products.
• The wholesale banking firm provides corporate customers in India with various financial, transactional, and electronic products. The bank offers customer-focused products like term loans, foreign exchange, trading and transaction-based services, financing for capital investments, and services for cash management.
• Working Capital & Agriculture term funding for dairy, poultry, storage units, and other agricultural enterprises are also offered to suit the various needs of the agricultural community in addition to gold loans, SHG loans, and loans to government-sponsored projects.