Mumbai, India, May 27, 2009 --(PR.com
)-- Amas Bank (Switzerland) Ltd today announced that it has changed its name to Hinduja Bank (Switzerland) Ltd. The bank belongs to the family-owned Hinduja Group, one of the largest diversified business groups in the world.
"The change reflects the growing strength of the Hinduja name in global business, as well as the Group's increased commitment to the bank in Switzerland. The bank has a strong balance sheet and steered clear of the financial crisis by focusing on prudent management and investment strategies," said Chief Executive Ivan Schouker.
"Hinduja Bank (Switzerland) Ltd combines the solid traditions of Swiss banking with excellent links to the growing economies of South Asia and the Middle East. At a time when some other banks have been retrenching, we have been investing for the future by hiring new senior executives, creating a banking subsidiary in Dubai and acquiring 40% of one of the oldest Indian stockbrokers, Paterson Securities Ltd," he said.
Mr. S.P. Hinduja, the Group Chairman commented: "The change of name reflects the Hinduja Group's ambition to develop the bank further in order to take advantage of its unique strengths as a Swiss bank with excellent connections to high-growth economies. According to Swiss banking custom, wherever there is a family promoter, the family name is part of the bank's name. We have introduced our name, not only in the bank, but also in all other Group companies. This will provide a collective strength to our Group's various sectors."
Amas Bank (Switzerland) Ltd was founded as a finance company in 1978 and became a Swiss-regulated bank in 1994. Headquartered in Geneva, the Bank has developed its network in Switzerland with offices in Zurich, Lucerne, Basle and St Margrethen. Its global reach includes a presence in Dubai, London, Paris, New York and Mauritius. Over the years, its core businesses have expanded to comprise Wealth Management, Trade Finance Services and Corporate Advisory. The latter includes Mergers & Acquisitions and advice to companies investing in the emerging markets where Hinduja Bank (Switzerland) Ltd has long-standing expertise.
Hinduja Group is an investment and banking group with a diversified global portfolio of holdings across the manufacturing services and banking sectors. The Group, founded by Shri P.D. Hinduja in 1914 has activities across three core areas: Investment Banking, International Trading and Global Investments. As part of its Global investments, the Group owns businesses in Automotive, Information Technology, Media, Entertainment & Communications, Banking & Finance, Infrastructure Project Development, Chemicals & Agri business, Energy, Real Estate and Healthcare. The Group founded India's first new generation private sector bank, IndusInd Bank, in 1994. It also supports charitable and philanthropic activities across the world through the Hinduja Foundation.
Hinduja Bank (Switzerland) Ltd,
on +41 22 906 0815
by email email@example.com.
Vice President- Corporate Communications,
Hinduja Group on 91-22-24960707
by email firstname.lastname@example.org