Indian Gold Book:Indian Gold Book - Gold Bars Worldwide

BANKS
BACKGROUND INFORMATION ON BANKS
PUBLIC SECTOR BANKS
State Bank of India (SBI)
The SBI traces its origins to the Bank of Calcutta, founded in 1806. In 1955, when the Reserve Bank of India acquired a
major shareholding of the Imperial Bank of India, the State Bank of India was created by an Act of Parliament. The State
Bank Group comprises the SBI, 7 associated banks, and other subsidiaries. Branches: 9,000. Employees: 220,000.
Allahabad Bank
Allahabad Bank, established in Allahabad (Uttar Pradesh) in 1865, relocated its headquarters to Kolkata in 1923. It was
nationalised in 1969. Branches: 1,900. Employees: 21,000.
Bank of India
The Bank of India was established in Mumbai in 1906. It was nationalised in 1969. Branches: 2,500. Employees: 52,000.
Corporation Bank
Corporation Bank, established in Udipi in 1906, has its headquarters in Mangalore (Karnataka). It was nationalised in 1980.
Branches: 650. Employees: 10,800.
Indian Overseas Bank (IOB)
The IOB was established in Chennai in 1937. It was nationalised in 1969. Branches: 1,800. Employees: 23,000.
Punjab National Bank
The Punjab National Bank, the first bank to be owned and managed by Indians, was established in Lahore in 1895.
It relocated its headquarters to New Delhi in 1947. It was nationalised in 1969. Branches: 4,200. Employees: 58,000.
FOREIGN BANKS
All have their headquarters in Mumbai.
ABN-AMRO Bank
Established in the Netherlands in 1824, the bank opened its first branch in Kolkata in 1920. Branches in India: 8.
Employees: 850.
The Bank of Nova Scotia (ScotiaMocatta)
ScotiaMocatta, part of The Bank of Nova Scotia, has been active in India under this name since December 1998. It is an
international bullion dealer with gold dealing offices in Toronto, London, New York, Hong Kong and Sydney. It is a Market
Maker member of the LBMA, and member of the daily London gold fixing meetings. The company traces its gold dealing
operations to the establishment of Mocatta (London) in 1674. Bank of Nova Scotia branches in India: 5. Employees: 300.
Standard Chartered Bank (SCB)
SCB, known by this name since a merger between Standard Bank and Chartered Bank in London in 1969, has operated in
India since 1854. In December 1998, the bank sold Mocatta Metals Corporation (its bullion dealing division) to the Bank of
Nova Scotia. This meant that the bank had to re-establish a bullion division and apply for a new licence to import gold,
granted by the Reserve Bank of India in January 2000. Branches in India: 57. Employees: 2,600.
The Hongkong and Shanghai Banking Corporation Limited (HSBC)
HSBC, a subsidiary of HSBC (Hong Kong), has operated in India since 1853. It is an international bullion dealer with offices
in New York, London and Hong Kong. It is a Market Maker member of the LBMA and member of the daily London gold
fixing meetings. Branches in India: 26. Employees: 3,000.
NEWLY-AUTHORISED BANKS *
All have their headquarters in Mumbai.
Union Bank of India. Established in 1919 as a public sector bank. Nationalised in 1969. Branches: 2,100.
Employees: 30,000.
ICICI Bank Ltd. Known by this name in 1999. Established in 1994 as a private sector bank. Branches: 81.
Employees: 2,000.
The HDFC Bank Ltd. Established in 1994 as a private sector bank. Branches: 111.
Employees: 2,000.
* Source of information: Indian Banking Year Book 2000. Performance Highlights of Banks 1999-2000.
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