Explore topic-wise fullforms in Foreign Bank in India

The Bank of America Corporation (simply referred to as Bank of America, often abbreviated as BofA or BoA) is an American multinational investment bank and financial services holding company headquartered in Charlotte, North Carolina. The bank was founded in San Francisco, and took its present form when NationsBank of Charlotte acquired it in 1998. It is the second largest banking institution in the United States, after JPMorgan Chase, and the eighth largest bank in the world. Bank of America is one of the Big Four banking institutions of the United States. It serves approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking.

One branch of its history stretches back to Bank of Italy, founded by Amadeo Pietro Giannini in 1904, which provided various banking options to Italian immigrants who faced service discrimination. Originally headquartered in San Francisco, California, Giannini acquired Banca d'America e d'Italia (Bank of America and Italy) in 1922. The passage of landmark federal banking legislation facilitated a rapid growth in the 1950s, quickly establishing a prominent market share. After suffering a significant loss after the 1998 Russian bond default, BankAmerica, as it was then known, was acquired by the Charlotte-based NationsBank for US$62 billion. Following what was then the largest bank acquisition in history, the Bank of America Corporation was founded. Through a series of mergers and acquisitions, it built upon its commercial banking business by establishing Merrill Lynch for wealth management and Bank of America Merrill Lynch for investment banking in 2008 and 2009, respectively (since renamed BofA Securities).

Both Bank of America and Merrill Lynch Wealth Management retain large market shares in their respective offerings. The investment bank is considered within the "Bulge Bracket" as the third largest investment bank in the world, as of 2018. Its wealth management side manages US$1.081 trillion in assets under management (AUM) as the second largest wealth manager in the world, after UBS. In commercial banking, Bank of America operates—but does not necessarily maintain retail branches—in all 50 states of the United States, the District of Columbia and more than 40 other countries. Its commercial banking footprint encapsulates 46 million consumer and small business relationships at 4,600 banking centers and 15,900 automated teller machines (ATMs).

The bank's large market share, business activities, and economic impact has led to numerous lawsuits and investigations regarding both mortgages and financial disclosures dating back to the 2008 financial crisis. Its corporate practices of servicing the middle class and wider banking community has yielded a substantial market share since the early 20th century. As of August 2018, Bank of America has a $313.5 billion market capitalization, making it the 13th largest company in the world. As the sixth largest American public company, it garnered $102.98 billion in sales as of June 2018. Bank of America was ranked #25 on the 2020 Fortune 500 rankings of the largest US corporations by total revenue. Likewise, Bank of America was also ranked #8 on the 2020 Global 2000 rankings done by Forbes. Bank of America was named the "World's Best Bank" by the Euromoney Institutional Investor in their 2018 Awards for Excellence.

Bank of Ceylon (BOC; Sinhala: ලංකා බැංකුව Lanka Bænkuwa|Tamil: இலங்கை வங்கி Ilangai Vangi) is a state-owned, major commercial bank in Sri Lanka. Its head office is located in an iconic cylindrical building in Colombo.

The bank has a network of 628 branches, 689 automated teller machines (ATMs), 123 CDM network, and 15 regional loan centres within the country. It also has an around-the-clock call centre and an around the clock branch at its Colombo office.

In addition to the local presence, the bank maintains an off-shore banking unit in the head office in Colombo, three branches in Malé, Chennai, and Seychelles, and a subsidiary in London.

Abu Dhabi Commercial Bank PJSC (Arabic: بنك أبوظبي التجاري‎) (ADX: ADCB), commonly called ADCB, is a bank in the United Arab Emirates.

The ADCB Group is one of the UAE’s leading financial institutions, based in Abu Dhabi, UAE.

Serving over one million customers with a wide range of market-leading products and services, the ADCB Group’s core businesses are Consumer Banking, Wholesale Banking and Treasury & Investments.

With a host of award winning digital solutions and market firsts, the ADCB Group is driving digital innovation in the financial services industry, helping provide the highest levels of service and convenience to its customers and partners.

The ADCB Group operates major financial and non-financial subsidiaries. These subsidiaries include Al Hilal Bank, providing Islamic banking services for retail customers, and ADCB Egypt, providing both corporate and retail banking services.

The ADCB Group is 60.2% owned by the Government of Abu Dhabi through the Abu Dhabi Investment Council and trades on the Abu Dhabi Securities Exchange (ADX) under the ticker “ADCB”.

Further information on the ADCB Group can be found at www.adcb.com

The Australia and New Zealand Banking Group Limited (commonly referred to as ANZ) is an Australian multinational banking and financial services company headquartered in Melbourne, Australia. It is the second largest bank by assets and third largest bank by market capitalisation in Australia.

ANZ was established on 1 October 1951, when the Bank of Australasia merged with the Union Bank of Australia Limited. It is one of the big four Australian banks, with the Commonwealth Bank, National Australia Bank (NAB) and Westpac.

Australian operations make up the largest part of ANZ's business, with commercial and retail banking dominating. ANZ is also the largest bank in New Zealand, where the legal entity became known as ANZ National Bank Limited in 2003 and changed to ANZ Bank New Zealand Limited in 2012. From 2003 to 2012, it operated two brands in New Zealand, ANZ and the National Bank of New Zealand. The National Bank brand was retired in 2012, with a number of branches closing and others converting to ANZ branches. In addition to operations throughout Australia and New Zealand, ANZ also operates in 34 other countries.

ANZ together with its subsidiaries has a workforce of 51,000 employees and serves around nine million customers worldwide. In Australia, the bank serves around six million customers at over 570 branches.

INFO: Full form for ABN AMRO is ABN (Algemene Bank Nederland) + AMRO (AMsterdamsche Bank + ROtterdamsche Bank ) in Foreign Bank in India category

INFO: Full form for BTMU is The Bank of Tokyo-Mitsubishi UFJ Ltd in Foreign Bank in India category
BTMU also has other full forms in other categories mentioned below.

The Royal Bank of Scotland (RBS; Scottish Gaelic: Banca Rìoghail na h-Alba) is a major retail and commercial bank in Scotland. It is one of the retail banking subsidiaries of NatWest Group, together with NatWest (in England and Wales) and Ulster Bank. The Royal Bank of Scotland has around 700 branches, mainly in Scotland, though there are branches in many larger towns and cities throughout England and Wales. The bank is completely separate from the fellow Edinburgh-based bank, the Bank of Scotland, which pre-dates the Royal Bank by 32 years. The Royal Bank of Scotland was established in 1724 to provide a bank with strong Hanoverian and Whig ties.

Following ring-fencing of the Group's core domestic business, the bank became a direct subsidiary of NatWest Holdings in 2019. NatWest Markets comprises the Group's investment banking arm. To give it legal form, the former RBS entity was renamed NatWest Markets in 2018; at the same time Adam and Company (which held a separate PRA banking licence) was renamed The Royal Bank of Scotland, with Adam and Company continuing as an RBS private banking brand in Scotland, along the same lines as the Messrs. Drummond and Child & Co. businesses in England.

HSBC (Chinese: 滙豐; Cantonese Yale: Wuihfūng), officially known as The Hongkong and Shanghai Banking Corporation Limited (Chinese: 香港上海滙豐銀行有限公司), is a wholly owned subsidiary of HSBC, the largest bank in Hong Kong, and operates branches and offices throughout the Indo-Pacific region, and in other countries around the world. It is also one of the three commercial banks licensed by the Hong Kong Monetary Authority to issue banknotes for the Hong Kong dollar.

"The Hongkong and Shanghai Bank" was established in British Hong Kong in 1865 and was incorporated as "The Hongkong and Shanghai Banking Corporation" in 1866, and has been based in Hong Kong (although now as a subsidiary) ever since. It was renamed "The Hongkong and Shanghai Banking Corporation Limited" in 1989. It is the founding member of the HSBC Group of Banks and Companies, and, since 1990, is the namesake and one of the leading subsidiaries of the London-based HSBC Holdings PLC. The company's business ranges from the traditional High Street roles of retail banking, commercial banking, corporate banking to investment banking, private banking and global banking.

The Bank of Bahrain and Kuwait (BBK) was established on 16 March 1971 in both the Kingdom of Bahrain and the State of Kuwait. Its shareholders consist of the general public, the government of Bahrain, banks and investment companies in Kuwait. BBK engages in the provision of various services and banking products throughout its branches in Bahrain, Kuwait and India as well as its representative office in Dubai, United Arab Emirates.

PT Bank Maybank Indonesia Tbk (Maybank Indonesia) is one of private banks in Indonesia that is also part of Malayan Banking Berhad (Maybank) Group, one of the largest financial services group in ASEAN. Previously, Maybank Indonesia was known as PT Bank Internasional Indonesia Tbk (BII) which was founded on 15 May 1959, obtained its license as foreign exchange bank in 1988, and had its share listed as publicly listed company in Jakarta Stock Exchange and Surabaya Stock Exchange (now merged as Indonesia Stock Exchange) in 1989.

Maybank Indonesia provides a comprehensive range of products and services for individual and corporate customers through Community Financial Services (Retail Banking and Non-Retail Banking) and Global Banking, as well as automotive financing through its subsidiaries, WOM Finance for two wheelers and Maybank Finance for four wheelers. Maybank Indonesia also continues to develop digital banking services and capacity through Mobile Banking, Internet Banking, Maybank2U (internet-based mobile banking) and various other channels.

As of 31 December 2019, Maybank Indonesia maintains 374 branches including Sharia branches spread across Indonesia and one overseas branch (Mumbai, India), 21 Mobile Cash Vehicles and 1,571 ATMs including CDM (Cash Deposit Machines) connected with over 20,000 ATMs in ATM PRIMA, ATM BERSAMA, ALTO, CIRRUS and connected to 3,500 Maybank ATMs in Singapore, Malaysia and Brunei. By end of 2019, Maybank Indonesia managed Rp110.6 trillion in customer deposits and Rp169.1 trillion in assets.

Citibank India is a foreign bank in India with a full service onshore platform. Its Indian headquarters is at Bandra Kurla Complex, Mumbai, Maharashtra. It is a subsidiary of Citigroup, a multinational financial services corporation headquartered in New York City, United States. Citibank India's services are investment banking, advisory and transaction services, capital markets, risk management, retail banking, and Cards. Although headquartered in Mumbai, the bank has most of its workforce based out of Chennai followed by Mumbai and Gurugram.

On 15 Apr 2021, after 119 years in India, Citibank said that it will exit consumer banking businesses in 13 markets including India as part of a restructuring plan.