Karur Vysya Bank

Last updated

The Karur Vysya Bank Limited
Type Public
BSE:  590003
NSE:  KARURVYSYA
Industry Banking
Financial services
Founded1916
Headquarters Karur, Tamil Nadu
Key people
Mr. N. S. Srinath
(Chairman)
Mr. Ramesh Babu
(MD & CEO)Mr.Sakthi Vel(CEO)
Products Consumer banking, Corporate banking, Finance and Insurance, Investment banking, Mortgage loans, Private banking, Wealth management, Credit cards
RevenueIncrease2.svg5,443.41 crore (US$720 million) (2016) [1]
Increase2.svg1,235.42 crore (US$160 million) (2016) [1]
Increase2.svg567.63 crore (US$75 million) (2016) [1]
Total assets Increase2.svg57,663.72 crore (US$7.7 billion) (2016) [1]
Number of employees
7,211 (2016) [1]
Capital ratio 11.79% [1]
Website https://www.kvb.co.in

Karur Vysya Bank is a Scheduled Commercial Bank in India. It has completed 100 years of operation and is one of the leading banks in India, headquartered in Karur in Tamil Nadu. [2] It was set up in 1916 by M. A. Venkatarama Chettiar and Athi Krishna Chettiar. The bank primarily operates in treasury, corporate/wholesale banking and retail banking segments.

Contents

KVB provides services such as personal, corporate, agricultural banking and services to NRIs and MSME. Under personal banking, the bank provides housing loan, personal loan; insurance; and fixed deposits among others. Under corporate banking, KVB provides services like corporate loans; demat account, multicity current account and general insurance among others. Schemes provided by KVB under agricultural banking include Green Harvester, Green Trac and KVB Happy Kisan among others. Under MSME, the bank provides products such as KVB MSME Cash, KVB MSME Term Loan, KVB MSME Vendor Bill Discounting and KVB MSME Standby Term Loan among others. The bank had added more branches and 10 ATMs during the year thus bringing the total to 798 branches and 1,780+ ATMs as on 1 July 2018. It introduced a number of initiatives in FY16 like reloadable cards, kisan credit cards, automatic passbook kiosk, e-book, etc. The latest being introduction of fast tag and UPI based payment system. Total business volume is 1,00,000+ crore as of December 2017.

History

The Karur Vysya Bank Limited, popularly known as KVB was set up on 25 July 1916 by M. A. Venkatarama Chettiar and Athi Krishna Chettiar, to capitalise on the previously unexploited market of traders and agriculturists in and around Karur, a town in Tamil Nadu.

Though the bank started with a seed capital of ₹1 lakh, as with most banks, the seed capital has grown, as have the services sold. The bank is managed and guided by the Board of Directors drawn from different fields.

Realising that there is more money elsewhere, the bank expanded out of Karur and established approximately 668 branches in other States and Union Territories in order to gain a pan-India presence.

Shri K.K. Balu was appointed as an Additional Director of the Bank on 27 January 2012 [3]

The Bank has celebrated its Centenary celebrations on 10 September 2016 at Chennai with President of India Shri. Pranab Mukherjee as Chief guest.

Branch and ATM Network

A Karur Vysya Bank branch in Mysore, Karnataka Karur Vysya Bank - Mysore Branch.jpg
A Karur Vysya Bank branch in Mysore, Karnataka

It has 779 branches and network of 1659 ATMs and around 565 cash deposit machines as on 31 March 2020. KVB has recorded a Total Business of ₹107,591 crore with deposits of ₹59,075 crore and advances of ₹48,516 crore. [4]

See also

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References

  1. 1 2 3 4 5 6 "Balance Sheet 31.03.2016". kvb.co.in (9 June 2016).
  2. "Karur Vysya Bank Contact Information, Head Office, Email ID". Company Contact Information. 22 March 2020. Retrieved 22 November 2020.
  3. https://www.kvb.co.in/pdf/additionaldirector.pdf
  4. "Annual Report 2020" (PDF).