Bank of Rajasthan
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| Type | Private (BSE), |
|---|---|
| Industry | Banking Loan Capital Markets and allied industries |
| Founded | Udaipur, 1943 |
| Headquarters | Regd. Office, Clock Tower, Udaipur India |
| Key people | G. Padmanabhan (MD & CEO) |
| Products | Loans, Savings, Investment vehicles, etc. |
| Revenue |  150,733.44 lakh (US$3,007.1 million) (year ended March, 2009) |
| Net income |  117.7119 crore (US$23.48 million) Crore (March 2009) |
The Bank of Rajasthan Ltd (in Hindi बैन्क ओफ राजस्थान) (BSE: (500019 ) was a private sector bank of India which merged with ICICI Bank in 2010.
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[edit] History
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 26th January, 1983.
The bank's central office is located at Jaipur, while registered office is in Udaipur. Presently the bank has 463 branches.[1][2]
[edit] Merger With ICICI Bank
RBI was critical of BOR's promoters not reducing their holdings in the company. BOR has been merged with ICICI Bank. ICICI paid Rs.3000 Crores for it. Each 118 shares of BOR will be converted into 25 shares of ICICI Bank.[3][4][5]
[edit] References
- ^ The Bank Of Rajasthan Ltd.-Together We Prosper
- ^ Bank of Rajasthan - Bank of Rajasthan India - Bank Of Rajasthan Ltd
- ^ TNN, May 18, 2010, 11.47pm IST (2010-05-18). "BoR to be merged with ICICI - India Business - Business - The Times of India". Timesofindia.indiatimes.com. http://timesofindia.indiatimes.com/biz/india-business/BoR-to-be-merged-with-ICICI/articleshow/5946620.cms. Retrieved 2010-08-20.
- ^ PTI, May 23, 2010, 04.39pm IST (2010-05-23). "Bank of Rajasthan to merge with ICICI - India Business - Business - The Times of India". Timesofindia.indiatimes.com. http://timesofindia.indiatimes.com/Biz/India-Business/Bank-of-Rajasthan-to-merge-with-ICICI/articleshow/5965515.cms. Retrieved 2010-08-20.
- ^ TNN, May 24, 2010, 12.23am IST (2010-05-24). "ICICI-BoR merger deal valued at Rs 3041 crore - India Business - Business - The Times of India". Timesofindia.indiatimes.com. http://timesofindia.indiatimes.com/biz/india-business/ICICI-BoR-merger-deal-valued-at-Rs-3041-crore/articleshow/5966378.cms. Retrieved 2010-08-20.
[edit] See also
[edit] External links
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