About
Karnataka Bank Limited is an 'A' Class Scheduled Commercial Bank. It is India's twelfth largest private sector bank and based in Mangaluru in Karnataka, India. The bank has a nation wide network of 862 banking branches, 1026 ATM kiosks, and 454 e-lobbies/mini e-lobbies across 2 union territories and 22 states of India.
Karnataka Bank employs 8509 employees and services over 11 million customers nationally. 1,46,000 shareholders privately hold the shares of Karnataka bank. The bank markets itself with the tagline "Your Family Bank Across India".
Listing and Revenue
Karnataka Bank is listed on NSE.
| Revenue | ₹5,970.45 crore |
| Operating Income | 1,656.77 crore |
| Net Income | ₹431.78 crore |
| Total Assets | ₹83,313.49 crore |
Products and Services
Karnataka Bank offers banking, financial products, and other services to individual, businesses, and rural banking.
History
Karnataka Bank Limited was incorporated on 18 February 1924. The privately held bank commenced its business on 23 May 1924. The bank has its headquarters in Mangalore, Karnataka. Among the people, who founded the bank to serve the South Kanara region, was B. R. Vysaray Achar. K. S. N. Adiga served as the Chairman of Karnataka Bank from 1958 to 1979.
Acquisition
In the 1960s Karnataka Bank Limited acquired three small banks including Sringeri Sharada Bank. It was established in 1942 and had four branches. After four years, it also acquired Chitradurga Bank that was established in 1868 in Mysore.
In 1966, Karnataka Bank bought Bank of Karnataka. It was established in 1946 and had 13 branches. The bank signed a memorandum of understanding (MoU) with Infosys in 2000 to build a core banking solution called Finacle. Its main motto was to facilitate "Anytime/Anywhere banking". In 2004, Karnataka Bank managed to launch MoneyPlant Debit Card.
Awards and Recognition
The bank has won the ET BUSINESS EXCELLENCE AWARD 2019 in the category “Excellence in Banking Service”.