Eli Leenaars, member of the executive board of 
the ING Group, however, did mention that the group will not dilute its 44% stake in the venture, keeping the company’s interest aligned with the Indian government’s FDI directives. Moreover, they would like to explore possibilities of increasing their stake in the bank from 44%, since India is a very high potential market. With the appointment of Vaughn Richtor as Managing Director and Don Koch as COO of ING Vysya Bank, the company aims to double its liabilities book in India by late 2009 and/or early 2010. Vaughn Richtor mentions how delighted he is to report significant improvements in the bank’s operating results. “The profits this year have been the highest recorded in the last ten years of operations. We are seeing the benefit of focusing on profitable growth and improving the productivity of our business. While we still have more work to do in this respect, we are pleased with the progress. To date, as of March 31, 2007, total assets of the bank had increased by 15% to Rs.19,286 crores.
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the ING Group, however, did mention that the group will not dilute its 44% stake in the venture, keeping the company’s interest aligned with the Indian government’s FDI directives. Moreover, they would like to explore possibilities of increasing their stake in the bank from 44%, since India is a very high potential market. With the appointment of Vaughn Richtor as Managing Director and Don Koch as COO of ING Vysya Bank, the company aims to double its liabilities book in India by late 2009 and/or early 2010. Vaughn Richtor mentions how delighted he is to report significant improvements in the bank’s operating results. “The profits this year have been the highest recorded in the last ten years of operations. We are seeing the benefit of focusing on profitable growth and improving the productivity of our business. While we still have more work to do in this respect, we are pleased with the progress. To date, as of March 31, 2007, total assets of the bank had increased by 15% to Rs.19,286 crores.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
