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Vijaya Bank Ltd share price today (on 17 December 2017).

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BSE: 532401 | NSE: VIJAYABANK | ISIN: INE705A01016
Market Cap: [Rs.Cr.] 2,314 | Face Value: [Rs.] 10
Industry: Banks - Public Sector



Vijaya Bank (VB) came into existence in 15th April of the year 1980, as a consequence of the Government of India taking over the undertaking of Vijaya Bank Ltd. The Bank is engaged in transacts all types of banking business including foreign exchange. The bank has a strong presence in the fast-growing southern states. Its business activities are diversified and encompass merchant banking, credit cards, ATMs, housing finance, fast collection services etc. The Bank had sponsored its first Regional Rural Bank in the year 1985 under the name and style Visweswaraya Grameena Bank in March. This Regional Rural Bank caters the needs of the target group belonging to Mandya district of Karnataka State. VB introduced the novel scheme under the name of Vijaya Vichar Vihar' in the year 1989. During the year 1992, the bank had introduced automatic renewal facility upto four times in respect of short-term deposits accepted for periods from forty-six days to one year for the convenience of the customers.
VB had entered into the Memorandum of Understanding (MoU) with the Reserve Bank of India in the year of 1994 to fulfill definite performance commitments. Also in the same year of 1994, the bank introduced the new schemes viz. Vijaya Gift Bond Scheme and Vijaya Service Card for enlarging its services to its business clientele. The Bank opened its third exclusive NRI branch at Mapuca (Goa) and established special NRI Cells at the branches in Tiruvalla, Kottayam, Trivandrum and Kozhencherry (all in the Kerala State). During the year 1995, VB had opened 33 new branches and also the bank opened five Hi-tech Agricultural Finance branches at Bangalore, Coimbatore, Delhi, Hyderabad and Lucknow. In the identical year of 1995, the bank entered into an agreement with M/s. Oriental Exchange Co., WLL Manama, Bahrain providing for the Bank's participation in the said exchange company's day-to-day management. Vijaya Bank launched a fully operational Custodial Services Division at Mumbai. In the year 1996, VB had opened its first subsidiary, Vibank Housing Finance Limited to add impetus to housing finance.
Vijaya Bank introduced three new loan schemes, namely, 'Vijaya Nivruthi', 'Vijaya Krishi Vikas' and 'Vijaya Mangala' to cater to the credit needs of pensioners, farmers and workingwomen respectively. The Bank had also entered into tie-up arrangements with ICICI, Banking Corporation Limited and Oman International Bank Ltd. VB had introduced innovative banking service called Any Branch Banking' in the same year of 1996. During the year 1997, Vijaya Bank had launched a special agriculture credit plan targeted specifically at agriculture and other, rural advances. The Bank also launched the special loan recovery motivation scheme', which helped reduce the level of NPAs from 11.6 per cent to 9.6 per cent. The Bank had entered into domestic correspondent Banking arrangements with various private sector banks and foreign banks during the year 1998. After a year, in 1999, Vijaya Bank had entered into Rs. 200-crore take-out financing agreement with the Housing and Urban Development Corporation (HUDCO) for funding infrastructure projects.
In the year 2000, VB had introduced a new scheme named V-Star savings bank Account Scheme. Vijaya Bank taped the capital market with an initial public offering in the year 2000. The Bank had signed a pact with LIC in the year of 2003 to offer Life insurance cover to all its existing as well as its new deposit-holders. VB had unveiled a new electronic fund remittance facility called V-REMIT, under which the bank customers can electronically remit funds to the account holders in any bank. The MoU was signed with M/s National Insurance Company Limited in the year 2003 for marketing banc assurance products. Bank has decided to amalgamate its own subsidiary VIBANK Housing Finance Ltd. (VHFL) with the Vijaya Bank. Vijaya Bank had opened a Kiosk that is exclusively for retail lending at its Ashoknagar Branch in Mangalore and signed the MoU with Punjab National Bank and Principal Financial Group of USA for a joint venture participation in Asset Management Company.
In the year 2004, the bank made tie-up with NIC to offer free insurance policy. Punjab National Bank (PNB) and VB had entered into a four-way partnership with Principal Financial of the US and Berger Paints to set up an insurance broking company. Vibank Housing Finance Ltd became a wholly owned subsidiary of the bank in the identical year of 2004. The Bank signed a pact with Nabard to co-finance agriculture, agro processing, hi-tech agriculture and rural development projects. Vijaya Bank launched the bank's second city specific credit card - the 'Hyderabad Card'.
During the year 2005, the bank made tie-up with TAFE. In the year 2006-07, the bank implemented the Crore Banking Solution (CBS) in additional 152 branches. VB opened 43 new branches, upgraded 10 extension counters into full-fledged branches, converted 2 regional foreign exchanges into full-fledged overseas branches and also converted one capital market services branch into a general banking branch in the year 2006-07. The bank had helped 11061 Self Help Groups in the same year by the way of loan disbursement. In June of the year 2007, VB had inked a memorandum of understanding (MoU) with credit rating agency ICRA, under which ICRA will assign ratings to small scale industries (SSIs) and small and medium enterprises (SMEs) that are borrowers of the bank. As of April 2008, signed a memorandum of understanding with Fitch Ratings India to provide bank loan ratings to its corporate clients at a normal fee. Vijaya Bank plans to focus on farm and retail lending to push up business.





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