 | |
| Company type | Scheduled commercial bank |
|---|---|
| Industry | Banking Financial services Investment services |
| Founded | 1922 |
| Headquarters | Nainital,Uttarakhand, India |
Key people | 1. Sushil Kumar Lal (MD & CEO) 2.Kuldeep Singh (Executive Director )[1] 3. Dr. Deepak Pant (Chief Executive Officer )[2] 4. Mahesh Kumar Goyal (Chief Financial Officer )[3] |
| Products | Finance and insurance Consumer banking Corporate banking Investment banking Investment management Private banking |
| Revenue |  ₹700.09 crore (US$83 million) (2017)[3] |
| ₹109.78 crore (US$13 million) (2017)[3] | |
| ₹48.46 crore (US$5.7 million) (2017)[3] | |
| Total assets | ₹769.96 crore (US$91 million) (2017)[3] |
Number of employees | 800[3] |
| Parent | Bank of Baroda,Ministry of Finance,Government of India[4] |
| Website | www |
The Nainital Bank Limited (NTB) (known asNainital Bank)[5] is a scheduled commercial bank founded in 1922. The bank is asubsidiary ofBank of Baroda which is under theownership ofMinistry of Finance of theGovernment of India. The bank has expanded toUttar Pradesh andUttarakhand, and has only 170 branches inRajasthan,Delhi andHaryana.[4][6][7]
Nainital Bank was founded byGovind Ballabh Pant.[8] In 1922, the government-ownedBank of Baroda (BOB), the second largest bank in India, acquired a 98.6% (around 99%) stake in the bank and made it a subsidiary.[4][8]
In April 2004,National Insurance Company (NIC) signed an agreement with Nainital Bank for distribution of its general insurance products through the bank's branches across Uttarakhand, Haryana and New Delhi states.[9] The bank had a net worth of around Rs 1.12 billion on as on 31 March 2006.[10] It bank launched itsrights issue in September 2009, to expand itscapital adequacy ratio (CAR) to 14 per cent, this came after it previously withdrew its plans for anIPO due to adverse market conditions in 2007; by April 2010, the right issue had raised₹300 million (US$3.5 million).[7][11]
Nainital bank is associated withBank of Baroda, HDFC Bank, LIC, National Insurance Company Limited etc.[12]Currently, NBL has 170 branches in Uttarakhand, Uttar Pradesh, Delhi, Haryana and Rajasthan.[8][13] It also provide online facilities, apart from Personal Banking, Business Banking, Rural and Agricultural Banking.In 2024 Wipro, an information technology company is in talk to acquire the bank.[citation needed] The Nainital Bank Limited is registered as scheduled commercial bank withReserve Bank of India (RBI), thecentral bank of India.[14][15]
The Nainital Bank Limited has 170 branches presently in the following Indian states.[13]
ED was invoked but never defined (see thehelp page).CEO was invoked but never defined (see thehelp page).Nainital Bank.
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