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Global Trust Bank was the first bank to be
set up in the private sector in Andhra Pradesh. Launched
on October 30, 1994, it is the first bank to attract
equity participation from two global multilateral institutions
- the International Finance Corporation, Washington,
and the Asian Development Bank, Manila, which
contribute to strategic direction, international vision
and expertise in infrastructure project evaluation.
The promoter of the bank is Ramesh Gelli, a
successful banker with a proven track record, who was
the Chairman of the Vysya Bank for 10 consecutive
years. He was the first banker to be awarded Padmasri
in 1991.
Global Trust Bank mobilised deposits of Rs. 100 crore
on the very first day of its operations. By the
end of 12 months, the deposits stood at Rs. 1200 crore
and by March 1999, after 36 months of operations, the
deposits were Rs. 4000 crore, making Global Trust on
of the fastest growing banks in India.
The bank created a record of sorts when its initial
public issue of Rs. 26 crore got over subscribed by
more than 60 times, mobilising Rs.1575 crore from over
a million investors. It has declared five dividends
in less than four years and achieved a capital adequacy
of 9.45 percent as on September 1998 as against the
8 percent prescribed by the Reserve Bank of India.
With 63 branches all over the country, the bank is
the largest among the private sector banks and continues
to be the most profitable.
Global Trust Bank has already launched its ATM services
and Internet banking service - ibank@gtb. This
service is available to all retail and corporate customers.
This has made the GTB join the select group of banks
globally, which offer ibanking service. The bank
is specialised in lending to software, energy, telecom,
textiles, pharmaceuticals and gems and jewellery sectors.
Recognising its contribution, the Gem and Jewellery
Export Promotion Council gave the bank the Best Export
Performance Award in 1996.
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1:51:22 AM 
Trade
and Commerce
