History of Global Trust Bank Ltd.
1993
- The Bank was incorporated on 29th October & the Certificate of Commencement of Business was obtained on 10th November, 1993. It was promoted by Ramesh Gilli, Dr. Jayanta Madhab & Sridhar Subasri and their friends & relatives.
- The Bank had entered into a Memorandum of Understanding with Infosys Technologies limited Bangalore, a specialised software Comp. to provide packaged software solution.
1995
- Global Trust Bank marched into the current period in the impressive company of International Finance Corporation, Asian Development Bank, T A Enterprise Berhad & Hambrecht and Quist as equity partners.
- For the first time in the country, Global Trust Bank has introduced a unique innovative equity ownership scheme for each employee.
- The Bank has received approval from SEBI as Category i Merchant Banker.
1996
- The Bank introduced Retail depository services under the brand name of Global Depository Account for investors in the stock market.
- 700 No. of equity shares issued for cash at par to the Memorandum & Articles of Association. 415,99,300 shares issued to the promoters. 30,00,000 shares issued to Employees Trust. 100,00,000 shares issued to IFC, USA. 100,00,000 shares issued to ADB Phillipines. 71,50,000 shares issued to HXQ, USA. 62,50,000 shares held by TAE, Malaysia. 260,00,000 shares were issued to public through prospectus.
- Global Trust Bank, has recently signed a memorandum of understanding with the Daiwa Institute of Research of Japan, part of Daiwa Securities Group, which is said to be the second largest in the world.
1997
- There has been an introduction of `pre-event audit' in respect of all critical decisions [with frequent audits in respect of sensitive areass] and effective risk management modules in all banking operations.
- The Bank set up a website in March, to distribute information on the Bank.
- Global Trust has recently created financial history by offering an innovative service - TURNKEY FINANCING-for the AP Gas and Power Co. Ltd.
- Global Trust Bank is listed at the stock exchanges of Hyderabad, Mumbai, Ahmedabad, Bangalore, Chennai, Coimbatore & the National Stock Exchange.
- GTB is entering into an agreement with the NSDL for the materialisation.
- During 1996-97, Global Trust Bank introduced Retail Depository Services under the brand name of Global Depository Account for investors in the stock market.
- Global Trust is promoted by a generation of very successful professionals led by Ramesh Gelli the only recipient of Padmashree among banking professionals in India. Global Trust is one of first private sector banks that came up in the aftermath of Financial Sector Reforms.
- Global Trust Bank [GTBs] launched `telebanking' as part of its efforts to strengthen `convenience banking' through technological support.
- The bank has entered into strategic alliances with Hambrecht and Quist [a venture capital & investment bank in the USs] & T A Enterprises, Malaysia [a securities trading firm operating in eight countriess], for equity - & debt-related products.
- Global Trust Bank Limited [GTBLs] has launched their 2424 phone Banking service in Chennai.
1998
- Global Trust bank was the first bank to have equity participation from multilateral institution-IFC & ADB.
- Global Trust Bank [GTBs] will be formally launching ATM [automated teller machines] service at Hyderabad. The bank has also slated a simultaneous launch of ATM service in Mumbai, Chennai, Bangalore and Pune.
- Global Trust Bank [GTBs] is launching Mytime ATM service network [Automated Teller Machines] from the 15th of December. The service is being simultaneously launched at five cities Hyderabad, Mumbai, Chennai, Bangalore & Pune.
- The bank is the first among the Indian banks to raise Tier II capital from multilateral institutions & the investment is in the form of a seven year loan.
- Global Trust Bank Ltd [GTBs] has ventured into the fortfaiting market in India.
1999
- Global Trust Bank entered into two agreements with micro-credit finance companies to extend credit to self-help groups.
- GLOBAL Trust Bank Ltd [GTBs] has become the first commercial bank to sanction funds to an intermediary for deployment in micro credit to the weaker sections of society. It has tied up with two intermediaries - Bharatiya Samruddhi Finance Ltd, popularly known as BASIX, & SHARE.
- GTB has become the first new generation private sector bank to adopt such an innovative approach to deploy credit to the weaker sections.
- Global Trust Bank [GTBs] will be the first Indian bank to provide customers access to information on their Acc. with the National Securities Depository Ltd [NSDLs] through the Internet, with the implementation of its E-commerce initiative.
- GTB had tied up with Infosys Technologies to partner the bank's E-commerce foray, for which, 'BankAway'-the proprietary product from the Bangalore-based information-technology giant-would be used.
- GLOBAL Trust Bank [GTBs] launched its Internet banking service, ibank@gtb. It has become the first Internet banking service in the country to provide customers access to their depository accounts.
2000
- The Global Trust Bank [GTBs] is all set to launch debit card by June. Further, the bank has also set itself an ambitious target to reach a figure of 100 ATMs by year end.
- GLOBAL Trust Bank [GTBs] is considering a proposal to issue on private placement basis 26 million equity shares of Rs. 10 each at a premium of Rs. 75 per share.
- The Comp. has allotted 1,48,00,000/- No. of equity shares of Rs. 10/- each at a price of Rs. 85/- per share on private placement/preferential allotment basis.
- The Global Trust Bank has tied up with MindTree Consulting Pvt. Ltd., an international consulting Comp. working in the IT solutions space, for bank proposed foray into the e-business arena.
- The Comp. has signed a memorandum of understanding with Indiainfo.com, Sharekhan.com & Indiainfoline.com.
- Global Trust Bank is poised to launched e-commerce service besides entering insurance business shortly.
- Global Trust Bank & Tata Cellular Ltd have signed up to launch mobile banking shortly.
- The private sector Global Trust Bank & BPL Mobile Communications, a cellphone service provider in Maharashtra, have joined hands for providing mobile banking in Mumbai.
- Global Trust Bank is launching an electronic bill presentation and payment [EBPPs] over the Internet.
- The Comp. has signed an Memorandum of Understanding with Infosys Technologies limited to launch an electronic bill presentment & payment [EBPPs] service over the internet.
- The Chairman & managing director of Global Trust Bank Mr Ramesh Gelli, will step down as the managing director of bank but will continue as its chairman on the advice of global HR consultants Hewitt & Assciates.
- The International Finance Corporation & India Global Trust Bank have forged a tie up to set up $40 million kitty to provide rupee as well as dollar loans to SMEs.
- Tata Teleservices limited has tied up with ICICI Bank & Global Trust Bank to enable its customers to use Internet banking facilities for the payment of telephone bills.
- Global Trust Bank will expand its base from Rs. 6,300 crore now to rs 8,200 crore before March 2001.
- Crisil has upgraded the P1 rating assigned to the certificates of deposit programme of Global Trust Bank to P1+ rating.
- Global Trust Bank [GTBs] in association with Tata Cellular, has launched its mobile banking facility in Hyderabad.
- Global Trust Bank has upgraded its software systems by implementing the `BASE24 Switch' which ensures faster electronic banking transanctions.
2001
- BPL Mobile & Global Trust Bank have entered into a strategic alliance to launch `Intouch Mobile Banking' service in Mumbai.
- Global Trust Bank has entered into a tie-up with Southern Railway to facilitate online payment for railway brookings.
- R S Hugar has been appointed as the new chairman and manaing director of Global Trust Bank.
- Tata Internet Services Ltd has announced that it will provide data centre facilities to Global Trust Bank [GTBs].
2002
-GTB with Excotel launches 'intouch' mobile banking facility in Kerala. It sets up new branch in New Delhi.
-Mr Sudhakar Gande appointed as the new Managing Director of bank.
-Ties up with Rediff.com for e-payment facility.
-Grants 6 months time to Essel group for repayment of Rs.150cr loan extended by bank to the group companies.
-Recalls its short-term loan amounting to Rs. 185cr from Himachal Futuristic Communications Ltd.
-Strengthens its internal control systems, including its internal procedures, systems & particularly the advances portfolio.
-LIC ties up with GTB to facilitate LIC customer to pay their premium payment over the internet.
-Opens branch in Yelahanka reaching its network to six in the city & 10 in the State. It also installed an ATM at Lela Gallerie, Airport Road, taking the total number of ATMs to 15.
-Global Trust Bank Ltd informs , the members of Bank at the AGM held on September 12, 2002 elected Mr J V Shetty & Mr P R G Raju as Directors of Bank. Mr Shetty is former Chairman and Managing Director of United Bank of India & Canara Bank. Mr Raju has rich experience in agriculture & construction.
-Connects its ATM network to Visa Global ATM Network.
2003
-International Finance Corporation, Washington [IFCs], sells 31,73,016 [2.61%s] shares of Bank
-Divests 5% holding in Mercator Lines Ltd.
-Introduces Vyapaar, a special current Acc. for small companies, where the customer can send up to Rs.2.5cr per month & the same would not be charged when funds transfer facilities are used.
-Gets the best in 'Microbanking' award by microbanker Inc.
-Launches a special initiative to customers & employees about the future plans of bank
-The data Center of bank secures the quality systems ISO 9001:2000 certification.
-Mr. Dayanand Soma has been inducted into the Board as Additional Director
-Ties up with Punjab National Bank for sharing the ATM spread across the country.
-3 directors of Global Trust Bank quit on serious differences on the issue to offload 49 per cent of its equity to strategic investors, three of bank directors who quit are - chairman of board audit committee Mr.Venkappa M Agadi, J V Shetty, & S B Ghosh,
2004
-Global Trust Bank Ltd has informed that at the AGM of Comp. held on December 24, 2003 the shareholders approved the delisting of shares of Comp. from Ahmedabad, Bangalore, Madras & Coimbatore Stock Exchanges.
-Ramesh Gelli resigns from the Global Trust Bank board. Gelli, the promoter of bank, had returned to the board as non-executive director on February 15, after a gap of three years
