The Bank was incorporated on 6 July 1994 by the Bennett, Coleman & Co. Ltd. and the Certificate of Commencement of Business was obtained on 22 August 1994.[4]
The Bank opened its first branch on D. N. Road, Mumbai, on 8 June 1995.[5]
In the year 2000, the bank was merged with the Indian private bank HDFC Bank.[6]
Business activities
The bank was a member of the Cirrus ATM network. It had four strategic business units: assets group, trade finance group, services group & syndication & advisory services group. It was also the first bank in India to provide an on-line, real-time debit programme in Delhi & Mumbai.[7]
At the time of its acquisition, Times Bank had 541 employees, 35 branches and 34 ATMs, whereas HDFC Bank had 827 employees, 57 branches and 77 ATMs.[8][9] Moreover, many of the employees at the Times Bank were former employees of the State Bank of India.[10]