ING Vysya Bank gains on inking MoU with Oriental Insurance Corporation

24 Nov 2011 Evaluate

ING Vysya Bank is currently trading at Rs. 292.60, up by 1.25 points or 0.43% from its previous closing of Rs. 291.35 on the BSE.

The scrip opened at Rs. 290.05 and has touched a high and low of Rs. 297.00 and Rs. 287.05 respectively. So far 1213 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 427.20 on 02-Dec-2010 and a 52 week low of Rs. 275.00 on 26-Sep-2011.

Last one week high and low of the scrip stood at Rs. 310.30 and Rs. 287.05 respectively. The current market cap of the company is Rs. 4365.03 crore.

The promoters holding in the company stood at 43.86% while Institutions and Non-Institutions held 38.29% and 17.84% respectively. 

ING Vysya Bank has signed a memorandum of understanding with state-owned Oriental Insurance Corporation (OIC) for offering ePayments services through all its branches across India. Oriental Insurance Corporation has chosen ING Vysya Bank’s state-of-the-art payment platform ING Pay, after the general insurer initiated e-payments as a mode of payment to its customers. Early this month, ING Vysya Bank had signed a similar MoU with state-owned Life Insurance Corporation of India.

The bank has ensured technology as one of its core investment focus in India and as a result of which most of the transaction processing systems and electronic banking delivery channels have been built around evolving domestic payments and clearing systems. Providing speedy, safe and convenient transaction processing environment has been the thrust behind all technological advancements of the bank.

The bank also received the best managed IT project award for its corporate internet banking platform ING Converge while its electronic collections platform ING Inwards received the most innovative IT solutions award.

Last year, ING Vysya Bank had also won CIO 100 Award by IDG India for its innovative customer-centric mobile voice recording solution.

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