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The Karnataka Bank Limited

Company type	Public
Traded as	BSE: 532652 NSE: KTKBANK
Industry	Banking, financial services
Founded	18 February 1924; 100 years ago (18 February 1924)
Headquarters	Mangalore, Karnataka, India
Number of locations	938 Branches
Key people	P. Pradeep Kumar (Part-Time Non-Executive Chairman) Srikrishnan Hari Hara Sarma (Managing Director & Chief Executive Officer)
Products	Retail banking, corporate/wholesale banking, treasury operations, credit card, bancassurance
Revenue	₹8,213 crore (US$980 million) (2023)
Operating income	₹2,208.23 crore (US$260 million) (2023)
Net income	₹1,180.24 crore (US$140 million) (2023)
Total assets	₹99,058 crore (US$12 billion) (2023)
Number of employees	8,652 (2023)
Capital ratio	17.45%
Website	karnatakabank.com

Karnataka Bank Limited is an Indian private sector bank based in Mangalore. It is an 'A' Class Scheduled Commercial Bank with a network of 915 branches, 1188 ATMs & Cash recyclers and 588 e-lobbies/mini e-lobbies across 22 states and 2 union territories. It has 8,652 employees and over 11 million customers throughout the country. Its shares are listed on the NSE and BSE. The tagline of the bank is "Your Family Bank Across India."

Karnataka Bank Limited has adopted core banking, internet banking and has established its "MoneyPlant" (1187 ATMs & Cash recyclers and 586 e-lobbies/mini e-lobbies) ATM system across the country.

History

Karnataka Bank Limited was incorporated on 18 February 1924, and commenced business on 23 May 1924. Its founders established it at Mangalore, a coastal town in the Dakshina Kannada district of Karnataka. Among the founders, who created the bank to serve the South Canara region, was B. R. Vysaray Achar. K. Suryanarayana Adiga served as the chairman from 1958 to 1979.

In the 1960s Karnataka Bank Limited acquired three smaller banks. In 1960 Karnataka Bank Limited acquired the Sringeri Sharada Bank, which was established in 1942 had four branches. Four years later, Karnataka Bank Limited took over Chitradurga Bank (also known as Chitladurg Bank), which was established in 1868 and was the oldest bank in Mysore State. In 1966, Karnataka Bank Limited took over Bank of Karnataka. Bank of Karnataka was established in 1946 and opened one branch in Belgaum in 1947. At the time of this acquisition, Bank of Karnataka had 13 branches.

In September 2003, the bank shifted its head office from Kodialbail to Kankanady.

In Karnataka Bank reported Rs 285 crore fraud to Reserve Bank of India by DHFL, Religare Finvest, Fedders Electric and Engineering Ltd and Leel Electricals Ltd.

In 2021, Karnataka Bank Limited operationalized its wholly owned non-financial subsidiary KBL Services Limited with its registered and head office at Bangalore.

Services

The branches are available in 22 Indian states and 2 Union Territories. In August 2008, the Karnataka Bank Limited introduced Quick Remit, a facility to make money transfers easy for Non-Resident Indians living in Canada, United States, and the UK. The bank also runs a 24-hour Internet banking service called MoneyClick.

Karnataka Bank Limited provides business and personal banking products and services in India. The bank has four areas of business: Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations. It accepts savings and current accounts, cash certificates, fixed and cumulative deposits, non-resident rupee accounts, ordinary non-resident accounts, and foreign currency accounts; and offers loan products, such as vehicle, home, education, personal, MSME, mortgage, women entrepreneur, gold, and other loans, as well as loans against property and fixed deposits. The bank also provides debit, credit, gift, deposit only, image, and travel cards; life, general, and health insurance products; investments services; and remittance and other services. In addition, it offers forex services, which include pre and post-shipment, export collection bills, export LC advising, inward remittance facility, import letter of credit, import bill collection, buyer's credit, and outward remittances. Additionally, it offers various loans for agriculture; and other services, such as Internet banking, mutual funds, demat services, locker facility, and funds transfer services.

Digital banking

• KBL Mobile Plus
• KBL mPassbook
• BHIM KBL UPI App
• KBL POS Manager
• KBL MoneyClick Internet Banking

C.E.O. & M.D./ Chairman

• B. R. Vyasaraya Achar (1924-1958)
• K. Suryanarayana Adiga (23 November 1958 – 15 February 1979)
• K. N. Basri (15 February 1979 – 19 February 1980)
• P. Raghuram (16 June 1980 – 15 June 1985)
• P. Sundar Rao (11 September 1985 – 10 September 1989)
• H. M. Rama Rao (11 January 1990 – 11 January 1993)
• U. V. Bhat (28 June 1993 – 27 June 1995)
• M. S. Krishna Bhat (12 July 1995 – 11 July 2000)
• Ananthakrishna (13 July 2000 – 11 July 2009)
• Polali Jayarama Bhat (12 July 2009 – 10 April 2017)
• M. S. Mahabaleshwara (15 April 2017- 14 April 2023)
• Srikrishnan Hari Hara Sarma (26 April 2023 - to Present)

See also

• Banking in India
• Indian Financial System Code

References

1. ^ karnatakabank.com
2. "Karnataka Bank opens its 915th Branch with Mini e-Lobby at Ayodhya | Karnataka Bank". karnatakabank.com. Retrieved 19 January 2024.
3. "Key offices". Karnataka Bank Ltd.
4. SEBI profile, pg. 38
5. ^ SEBI profile, pg. 34
6. SEBI profile, pg. 35
7. "Karnataka Bank reports Rs 285 crore fraud by DHFL, Religare Finvest and two others". The Statesman. 6 June 2020. Retrieved 23 July 2022.
8. "Gold jewellery worth Rs 30L stolen from digital bank locker". Deccan Herald. 15 December 2022.
9. "Mangaluru: Karnataka Bank operationalizes its subsidiary KBL Services Ltd". www.daijiworld.com. Retrieved 28 May 2024.
10. "Quick Remit Money Transfer Service". Karnataka Bank Ltd. Archived from the original on 31 January 2010. Retrieved 7 March 2009.
11. "Karnataka Bank launches new facility". The Hindu. 30 September 2008. Archived from the original on 2 September 2008.
12. "Internet banking". Karnataka Bank Ltd.
13. "Karnataka Bank: Personal Banking, NRI Banking & Business Banking Services". karnatakabank.com. Retrieved 24 July 2023.
14. ^ "The Karnataka Bank Limited (KTKBANK.NS) Company Profile & Facts - Yahoo Finance". finance.yahoo.com. Retrieved 24 July 2023.
15. "Karnataka Bank appoints Srikrishnan Hari Hara Sarma as MD & CEO". www.thehindubusinessline.com. 26 May 2023.

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• Banks based in Karnataka
• Private sector banks in India
• Banks established in 1924
• Companies based in Mangalore
• Banks established in Mangalore
• Indian companies established in 1924
• Companies listed on the National Stock Exchange of India
• Companies listed on the Bombay Stock Exchange