Nainital Bank

2021-11-10T17:11:33Z

2409:4050:E93:EB4F:991E:F8EC:3D43:5D1E:

{{Use Indian English|date=July 2016}}
{{Use dmy dates|date=September 2013}}
{{Infobox company
| name = The Nainital Bank Limited
| type = Private sector
| logo = Nainitalbank Logo.svg
| key_people = Dinesh Pant ([[Chairman]] & CEO) <ref name="BalSheet"/>
| industry = Banking [[Financial services]] [[Investment|Investment services]]
| products = [[Finance and insurance]] [[Retail banking|Consumer banking]] [[Commercial bank|Corporate banking]] [[Investment banking]] [[Investment management]] [[Private banking]]
| parent = [[Bank of Baroda]], [[Ministry of Finance (India)|Ministry of Finance]],
[[Government of India]]<ref name=bob/>
| revenue = {{increase}}{{INRConvert|612.09|c}} (2017)<ref name="BalSheet">[http://www.nainitalbank.co.in/pdf/Fin_results_2017.pdf "Balance Sheet 31.03.2017"]. nainitalbank.co.in (15 March 2018).</ref>
| operating_income = {{increase}} {{INRConvert|109.78 |c}} (2017)<ref name="BalSheet"/>
| net_income = {{increase}} {{INRConvert|48.46|c}} (2017)<ref name="BalSheet"/>
| assets = {{increase}}{{INRConvert|769.96|c}} (2017)<ref name="BalSheet"/>
| equity =
| ratio =
| num_employees = 1000<ref name="BalSheet"/>
| foundation = 1922
| location = [[Nainital]], [[Kumaon division|Kumaon]], India
| branches =
| homepage = {{url|www.nainitalbank.co.in}}
}}

'''The Nainital Bank Limited''' (NTB) (known as '''Nainital Bank''')<ref>{{cite web|url=http://www.nainitalbank.co.in |title=Nainital Bank}}</ref> (Kumaoni: नैनताल बैंक) is a scheduled commercial bank founded in 1922. The bank is a wholly owned [[subsidiary]] of [[Bank of Baroda]] which is under the [[ownership]] of [[Ministry of Finance (India)|Ministry of Finance]] of the [[Government of India]]. The bank has expanded to [[Uttar Pradesh]] and [[Uttarakhand]], and has only 162 branches in [[Rajasthan]], [[Delhi]] and [[Haryana]].<ref name=bob/><ref>{{cite web|url=http://economictimes.indiatimes.com/Views/Recommendations/articleshow/5985388.cms |title=Growth potential for Bank of Baroda is pretty high: Arihant Capital Markets|work=[[The Economic Times]]|date=28 May 2010 |access-date=20 August 2010}}</ref><ref name=etnaini/> It has become TTC (Ten Thousand Crore) Company and aims to be most customer centric bank of India,<ref>{{Cite web|url=http://www.nainitalbank.co.in/english/Financial_Highlights.aspx|title=http://www.nainitalbank.co.in/english/Financial_Highlights.aspx}}</ref><ref name=bs/> it is listed as a [[scheduled bank]] by the [[Reserve Bank of India]].<ref name=rbi/>

==Overview==
Nainital Bank was founded by [[Govind Ballabh Pant]].<ref name=finaex>{{cite news |title=BoB to merge its associate bank |url=http://www.financialexpress.com/news/bob-to-merge-its-associate-bank/172293/0 |work=[[The Financial Express (India)|The Financial Express]] |date=25 July 2006 }}</ref> In 1975, the government-owned [[Bank of Baroda]] (BOB), the second largest bank in India, acquired a 98.6% (around 99%) stake in the bank and made it a subsidiary.<ref name=bob>{{cite web |title=Domestic: Subsidiary |url=http://www.bankofbaroda.com/subsidiaries_jv.asp |publisher= [[Bank of Baroda]] }}</ref><ref name=finaex/>

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.<ref name=hindnic>{{cite news |title=NIC ties up with Nainital Bank |url=http://www.hindu.com/2004/04/13/stories/2004041303141915.htm |archive-url=https://web.archive.org/web/20040508175630/http://www.hindu.com/2004/04/13/stories/2004041303141915.htm |url-status=dead |archive-date=8 May 2004 |work=[[The Hindu]] |date=13 April 2004 }}</ref> The bank had a net worth of around Rs 1.12 billion on as on 31 March 2006.<ref>{{cite news |title=Banks struggle with RBI norms|url=http://articles.timesofindia.indiatimes.com/2006-10-01/india-business/27804597_1_ratnakar-bank-centrum-finance-sangli-bank |archive-url=https://web.archive.org/web/20120927184850/http://articles.timesofindia.indiatimes.com/2006-10-01/india-business/27804597_1_ratnakar-bank-centrum-finance-sangli-bank |url-status=dead |archive-date=27 September 2012 |work=[[The Times of India]]|date=1 October 2006 }}</ref> It bank launched its [[rights issue]] in September 2009, to expand its [[capital adequacy ratio]] (CAR) to 14 per cent, this came after it previously withdrew its plans for an [[Initial public offering|IPO]] due to adverse market conditions in 2007; by April 2010, the right issue had raised {{INRConvert|300|m}}.<ref name=etnaini>{{cite news |title=Nainital Bank drops plan for public issue |url=http://articles.economictimes.indiatimes.com/2007-06-21/news/28436108_1_public-issue-parent-bank-private-bank |work=[[The Economic Times]] |date=21 June 2007 }}</ref><ref name=bs>{{cite news |title=Nainital Bank raises Rs 30 cr.|url=http://www.business-standard.com/power/news/nainital-bank-raises-rs-30-cr/12/05/390349/ |work=[[Business Standard]] |date=1 April 2010}}</ref>

Nainital bank is associated with [[Bank of Baroda]], HDFC Bank, LIC, National Insurance Company Limited etc.<ref>{{cite web|url=http://www.info2india.com/finance/banks/private-banks/nainital-bank-ltd.html|title=About Nainital Bank in info2india.com}}</ref>
Currently, NBL has 162 branches in Uttarakhand, Uttar Pradesh, Delhi, Haryana and Rajasthan.<ref name=finaex/><ref name=br/> It also provide online facilities, apart from Personal Banking, Business Banking, Rural and Agricultural Banking. The Nainital Bank Limited is registered as scheduled commercial bank with [[Reserve Bank of India]] (RBI), the [[central bank]] of India.<ref name=rbi>{{cite web|url=http://www.rbi.org.in/scripts/AboutUsDisplay.aspx?pg=Indian.htm |title= RBI Private Bank-Indian Bank|publisher=[[Reserve Bank of India]]}}</ref><ref>{{cite book |title=The Great Deleveraging: Economic Growth and Investing Strategies for the Future|chapter=List of Banks in India (2009)|author= Chip Dickson|author2=Oded Shenkar|publisher=FT Press|year= 2009|isbn=978-0-13-235810-1 |page=[https://archive.org/details/greatdeleveragin0000dick/page/217 217] |url=https://archive.org/details/greatdeleveragin0000dick |url-access=registration|quote=Nainital Bank.|ref=Di }}</ref>

==Branch Locations==
The Nainital Bank Limited has 162 branches presently in the following Indian states.<ref name=br>[http://www.nainitalbank.co.in/branches.htm Branches] NBL</ref>
*[[Uttarakhand]]
*[[Uttar Pradesh]]
*[[Delhi]]
*[[Rajasthan]]
*[[Haryana]]

==See also==
{{Portal|Banks}}
* [[Banking in India]]
* [[List of banks in India]]
* [[Reserve Bank of India]]
* [[Indian Financial System Code]]
* [[List of largest banks]]
* [[List of companies of India]]
* [[Make in India]]

==References==
{{Reflist|30em}}

==External links==
*{{Official website|1=http://www.nainitalbank.co.in/}}

{{Banking in India}}

[[Category:Bank of Baroda]]
[[Category:Nainital]]
[[Category:Banks established in 1922]]
[[Category:Organisations based in Uttarakhand]]
[[Category:Economy of Uttarakhand]]
[[Category:Private sector banks in India]]
[[Category:Indian companies established in 1922]]

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Nainital Bank