Ing Vysya Bank Essay Example for Free

Ing Vysya Bank Essay Banking system of a nation is the shadow of nation’s economy. A healthy and profitable banking system is just like the backbone of nation’s economy. It is necessary for a nation to achieve growth and remain stable in this global world and global economy. The Indian banking system, with one of the largest banking networks in the world, has witnessed a series of reforms over the past few years like the deregulation of interest rates, dilution of the government stake in public sector banks (PSBs) and the increased participation of private sector banks. History of Banking System Banking in the modern sense of the word can be traced to medieval and early Renaissance Italy, to the rich cities in the north like Florence, Venice and Genoa. Origin of the word The word bank was borrowed in Middle English from Middle French banque, from Old Italian banca, from Old High German banc, bank bench, counter. Benches were used as desks or exchange counters during the Renaissance by Florentine bankers, who used to make their transactions atop desks covered by green tablecloths. One of the oldest items found showing money-changing activity is a silver Greek drachm coins. Its performance is getting better year by year. It has been crossing a new lap at every year. ING Vysya Bank has a wide variety of products and services which it offers to its customers. The main customer segment belongs to middle age group. It belongs to mainly business class and service class. Majority of the customers are satisfied with the services provided by the bank. Its major competitors include Kotak Mahindra Bank, Yes Bank, IDBI Bank, Karur Vysya Bank and Dhanlakshmi Bank. In short, it can be said that the future of the bank is very bright and the bank is growing at a fast rate.