India’s fast-growing middle class, large labor force, rising education levels and massive English speaking population have fueled it to become one of the fastest growing economies in the world. India’s service sector accounts for half of the country’s GDP and is further supported by strong foreign investments.
ING Bank converted its representative office in India into a full-service branch in 1994. In 2002, ING merged with Vysya Bank to become ING Vysya. In 2015, ING obtained a stake in Kotak Mahindra Bank (Kotak) through the merger of ING Vysya Bank and Kotak.
Following the merger, in 2017, both ING and Kotak signed a Cooperation Agreement that structures a framework in which ING serves Kotak clients through ING’s network internationally and Kotak, likewise, supports ING clients with their Indian operations. Thanks to this Cooperation Agreement a number of new deals have been done by ING for Indian companies through its network and similarly a number of ING clients continue receiving daily banking services through Kotak. In addition to this Cooperation Agreement, ING and Kotak signed a second agreement to cooperate on cross-border M&A transactions involving both Kotak and ING corporate finance teams. In 2019, ING announced the sale of its last tranche of shares in Kotak.
However, and in spite of this equity divestment, ING and Kotak continue to co-operate on cross-border business opportunities and leverage each other’s network. The intention of both Kotak and ING is to create a similar client experience when dealing with either Kotak or ING. Therefore both institutions have worked together to develop a service infrastructure that enables access to a wider range of financial products, in-country expertise, ideas and solutions.
If you are looking for a sound partner with a long-term vision and proactive attitude that will take the time to analyse your projects to offer you the optimal financial solutions, then look no further. Your company will benefit directly from our international network and product expertise. So tell us, how can we help you?
- One of the fastest growing economies in the world
- Many financial products ranging from structured finance to general lending
- Record-breaking and award-winning bank
- Long-term vision and proactive attitude