Karur Vysya Bank

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. 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.

The Karur Vysya Bank Limited
Private
Traded asBSE: 590003
NSE: KARURVYSYA
IndustryBanking
Financial services
Founded1916
HeadquartersKarur, Tamil Nadu
Key people
Mr. N. S. Srinath
(Chairman)
Mr. P. R. Seshadri
(MD & CEO)Mr.Sakthi Vel(CEO)
ProductsConsumer banking, Corporate banking, Finance and Insurance, Investment banking, Mortgage loans, Private banking, Wealth management, Credit Cards
Revenue₹5,443.41 crore (US$760 million) (2016)[1]
₹1,235.42 crore (US$170 million) (2016)[1]
₹567.63 crore (US$80 million) (2016)[1]
Total assets₹57,663.72 crore (US$8.1 billion) (2016)[1]
Number of employees
7,211 (2016)[1]
Capital ratio11.79% [1]
Websitehttps://www.kvb.co.in

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 1917 by Mr M.A Venkatarama Chettiar and Mr 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 [2]

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

It has 788 branches and network of 1803 ATM's and around 538 cash deposit machines as on 12 August 2018. KVB has recorded a Total Business of Rs 1 lakh crore with deposits of Rs.56000 crores and advances of Rs.45000 crores.

See also

References
  1. "Balance Sheet 31.03.2016". kvb.co.in (9 June 2016).
  2. https://www.kvb.co.in/pdf/additionaldirector.pdf
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.