Karur - Karur Vysya Bank
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Karur - Karur Vysya Bank
Commercial banking in India could boast of a history of about 200 years. Though one could trace the history of banking from the 19th century, the beginning of last century saw the birth of many banks in certain parts of the country set up by people with vision and national spirit.
The Karur Vysya Bank Limited popularly known as KVB was such one to be set up in 1916 by two great visionaries and illustrious sons of Karur, the Late Shri M A Venkatarama Chettiar and the Late Shri Athi Krishna Chettiar to inculcate savings habit and to provide financial assistance to traders and small agriculturists in and around Karur, a textile town in Tamil Nadu.
Though the Bank had a very humble beginning with Rs.1 lakh Capital, the Bank had borne myriad changes and challenges in the past decades so fruitfully and profitably to emerge as one of the leading banks in India with strong and healthy fundamentals.
The Bank is professionally managed and guided by the Board of Directors drawn from different fields with vision, experience, knowledge and business acumen.
Though it had inherited a regional flavour to start with, it has now spread its wings far wide with 245 branches and 5 extension counters in 11 States and 2 Union Territories. The Bank has been conducting its affairs with meticulous care to be in conformance with all prudential norms and exacting statutory regulations.
KVB is one of the early banks to adhere to the norm of Capital Adequacy Ratio stipulated by RBI right from its introduction. The Bank has been maintaining a healthy Capital Adequacy Ratio of over 14.79% as against the mandatory norm of 9% prescribed by the RBI, which will take care of future asset growth.
Origin:
The bank was established in 1916 by the two illustrious sons of Karur, the late Shri M.A. Venkatarama Chettiar and the late Shri Athi Krishna Chettiar. Over the years, KVB has emerged as a strong bank with healthy fundamentals. The Bank has crossed several milestones over the past 90 years and today enjoys a premier position in the banking industry.
Achievements:
During these 90 years of its existence, the bank has successfully faced and overcome several challenges through adept and timely response to market and technological changes. The total business of the bank has touched the figure of Rs.14443.44 crores as on 30.09.06. From a humble beginning of Rs. 1 Lakh, the bank’s owned funds have crossed Rs.871.63 crores as of 31st March 2006. The Capital Adequacy ratio of the bank is 14.51% on the increased asset base for the period ended 30.09.06 as against the RBI requirement of 9%. KVB holds an uninterrupted track record of earning profit and paying dividends since inception. It has declared a record 100% dividend for the financial year 2005-06 for the third year in succession. Besides, in order to commemorate the 90th year celebrations of the Bank, a special additional dividend of 20% has been declared for the year 2005-06.
Due to sustained top-notch performance, the bank has earned well-merited recognition from many leading professional journals and financial dailies and has consistently been ranked among the top scheduled commercial banks in the country
Branch Network:
Today, KVB has spread its wings across 12 States and two Union territories. As on 30.09.2006, KVB has 250 branches.
Board of Directors
- Shri. P.T. Kuppuswamy,Chairman
- Shri.Athi.S.Janarthanan
- DR.V.G.Mohan Prasad
- Shri.G.Rajasekaran
- Shri.K.Ramadurai
- Shri.K.S.Ramabadran
- Shri M.G.S.Ramesh Babu
- Dr.T.R.Ramanathan
- Shri.Kattapradyumna Kumar
- Shri.M.K.Venkatesan
Karur Central
65 Jawahar Bazaar, Karur dist,
Karur, Tamil Nadu
PIN: 639001
Phone : 260164, 262346
E Mail : karurcentral@kvbmail.com
Karur - Karur Vysya Bank
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