| The Nainital Bank Ltd | |
| Type: | Scheduled commercial bank |
| Key People: | 1. Nikhil Mohan (MD & CEO) 2. Mahesh Kumar Goyal (Chief Financial Officer) |
| Industry: | Banking Financial services Investment services |
| Products: | Finance and insurance Consumer banking Corporate banking Investment banking Investment management Private banking |
| Parent: | Bank of Baroda, Ministry of Finance, Government of India |
| Revenue: | (2017)[1] |
| Operating Income: | (2017) |
| Net Income: | (2017) |
| Assets: | (2017) |
| Num Employees: | 800 |
| Foundation: | 1922 |
| Location: | Nainital, Uttarakhand, India |
The Nainital Bank Limited (NTB) (known as Nainital Bank)[2] is a scheduled commercial bank founded in 1922. The bank is a subsidiary of Bank of Baroda which is under the ownership of Ministry of Finance of the Government of India. The bank has expanded to Uttar Pradesh and Uttarakhand, and has only 170 branches in Rajasthan, Delhi and Haryana.[3]
Nainital Bank was founded by Govind Ballabh Pant.[4] In 1992, 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.[5] [4]
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.[6] The bank had a net worth of around Rs 1.12 billion on as on 31 March 2006.[7] 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 IPO due to adverse market conditions in 2007; by April 2010, the right issue had raised .[8] [9]
Nainital bank is associated with Bank of Baroda, HDFC Bank, LIC, National Insurance Company Limited etc.[10] Currently, NBL has 170 branches in Uttarakhand, Uttar Pradesh, Delhi, Haryana and Rajasthan.[4] It also provide online facilities, apart from Personal Banking, Business Banking, Rural and Agricultural Banking.In 2024 Wipro,a information technology company is in talk to acquire the bank. The Nainital Bank Limited is registered as scheduled commercial bank with Reserve Bank of India (RBI), the central bank of India.[11] [12]
The Nainital Bank Limited has 170 branches presently in the following Indian states.[13]