About Karnataka Bank: Empowering Financial Growth and Trust

Incorporated on 18-02-1924
Commenced business on 23-05-1924 at Dongerkery, Mangaluru

Maiden dividend of 6.25% declared for the year 1925

Second branch of the Bank opened at George Town — Madras on 24 March 1930

Third branch of the Bank opened at Car Street — Udupi on 16 January 1934

KSN Adiga was appointed as Director of the Bank

First branch in Bangalore opened at Kempe Gowda Road

Silver Jubilee Year of the Bank — Total deposits were ₹56 lakh and advances were ₹41 lakh with 9 branches

The Bank’s total business turnover crossed ₹1 crore

The Bank was included in the Second Schedule of the Reserve Bank of India Act, 1934, on 6 January 1958
K S N Adiga became the Chairman of the Bank on 23 November 1958

The Bank was upgraded from D Class to C Class

Sringeri Sharada Bank Ltd. (HO Sringeri), which had 4 branches, was taken over on 1 April 1960

Chitradurga Bank Ltd. (HO Chitradurga), the first ever registered bank (1870) in Karnataka State, with deposits of ₹56,000 and advances of ₹96,000 was taken over on 30 December 1964

Bank of Karnataka Ltd. (HO: Hubli), which had 14 branches, deposits of ₹1.01 crore and advances of ₹0.56 crore, was taken over on 30 December 1966

The Bank was upgraded from C Class to B Class

Paid up capital enhanced from ₹15 lakh to ₹20 lakh

100th branch of the Bank was opened at Melpal on 6 December 1971
The Bank opened its first branch in Bombay at Fort
K S N Adiga appointed as full-time Chairman and Chief Executive of the Bank

The Bank’s own multi-storied Head Office building built at a cost of ₹20 lakh was inaugurated by Hon’ble Minister of Railways Mr T A Pai

Golden Jubilee Year of the Bank — Total deposits were ₹33.14 crore and advances were ₹22.09 crore with 146 branches and 1,314 employees

150th branch of the Bank opened at Bagalkot on 17 September 1975

Authorized capital increased to ₹1 crore
First regional office of the Bank was opened at Bangalore

The Bank adopted this emblem designed by Dr K Shivarama Karantha (noted Kannada writer and Jnanapeeta Awardee). The emblem was conferred by H H Jagadguru Abhinava Vidya Theertha Swamiji of Shri Sringeri Mutt.
200th branch of the Bank opened at Narve on 24 October 1977
The Bank entered into foreign exchange business
Central Foreign Exchange Department was set up in Bangalore
The Staff Training College started at Mangalore on 27 September 1977

The Bank opened its first branch in Delhi at Connaught Place
CFED shifted to Mumbai and named as International Division
The Bank’s turnover crossed ₹100 crore

K S N Adiga, Chairman, retired from the services of the Bank on 5 February 1979 after 33 years of service
Central Foreign Exchange Department was shifted from Bangalore to Bombay on 2 July 1979
1979 was an eventful year as deposits crossed ₹100 crore mark (₹104.24 crore as on 31 December)

Regional offices opened at Hassan (Shifted to Shimoga in 1984), Hubli, Mangalore, Mysore and Madras

250th branch of the Bank opened at Koramangala Layout, Bangalore

Diamond Jubilee Year of the Bank — Total deposits of the Bank crossed ₹200 crore
House magazine “Abhyudaya” launched

Total deposits of the bank crossed ₹300 crore

Total deposits of the bank crossed ₹350 crore

The Bank’s deposits crossed the coveted figure of ₹400 crore and reached ₹424.43 crore
Borivali, Bombay branch was declared as the first Model Branch on 5 March

Authorized capital increased to ₹5 crore and paid up capital increased to ₹4.5 crore, being the highest among the private sector banks
Two new deposit schemes — Suvarna Nidhi and Ready Money — were launched
Krishi Card, an easy and quick substitute for crop loan, was introduced
Merchant Banking Division started
Deposits of the Bank crossed the prestigious mark of ₹500 crore

Authorized capital increased to ₹5 crore and paid up capital increased to ₹4.5 crore, being the highest among the private sector banks
Two new deposit schemes — Suvarna Nidhi and Ready Money — were launched
Krishi Card, an easy and quick substitute for crop loan, was introduced
Merchant Banking Division started
Deposits of the Bank crossed the prestigious mark of ₹500 crore

Deposits of the Bank crossed ₹840 crore

First Currency Chest — the first in Karnataka by any private sector bank — opened at Bangalore on 17 May
First overseas branch opened at Bombay on 12 August
Deposits crossed prestigious figure of ₹1,000 crore
Regional office at Bombay started functioning at Andheri (West) at our own premises

First service branch opened at Bombay on 10 September
First industrial finance branch opened at Bangalore on 20 March

Our Chikmagalur branch designated as the 1st agricultural development branch
Public issue of 45 lakh equity shares in Oct 1995, then paid up capital raised from ₹4.5 crore to ₹13.5 crore

300th branch at Bangalore-Vijayanagar opened

Founder’s Day was celebrated on 23 May 1998 to synchronize with the Platinum Jubilee Year celebration
The KSN Adiga Smaraka Bhavana was inaugurated at Kadri Road, Mangalore for housing a branch, regional office, and staff apartments

Regional office was inaugurated on 15 March 2000 at New Delhi with a net work of 15 branches and started functioning w.e.f. 1 April 2000

Opened the Bank’s data center at Bangalore
The new exciting technology platform “Finacle” was unveiled in collaboration with Infosys Technologies Ltd., Bangalore on 21 October 2000 at the Bank’s own data center at K H Road, Bangalore
350th Branch at Mysore-Vivekanandanagar opened

Business turnover crossed ₹10,000 crore
Highest dividend of 60% was declared
International inward money transfer services were launched in partnership with Western Union Financial Services Inc., USA
Employees group insurance scheme introduced for the employees of the Bank

ATM services were introduced by installation of 12 own ATMs on 27 January 2003 besides partnership with Corporation Bank on 15 November 2002
The Bank’s capital raised from ₹13.5 crore to ₹40.49 crore by issue of 1,34,86,222 bonus shares (in the ratio of 1:1) of ₹10 each fully paid
Offered shares on rights basis in the ratio of 1:2
Became a corporate agent for marketing life insurance policies of MetLife India Insurance Co. (P) Ltd. on 28 September 2002

Head Office was shifted to a new Bank-owned multi-storied Corporate Office at Mahaveer Circle, Mangalore 2
The Bank adopted the mission statement: “Our mission is to be a technology-savvy, customer-centric, progressive bank with a national presence, driven by the highest standards of corporate governance and guided by sound ethical values”
Introduction of MBB, K-Flexi deposits, K-Power

Two asset recovery management branches are opened (1 each) at Mumbai and Chennai
Total computerization of all branches
Introduced multicity cheque payable at par at 200 branches of 90 centers across India
Launched MoneyPlant Visa International Debit Card on 29 March 2005
Offered shares on rights basis in the ratio of 2:1

The Bank starts live operations under Real Time Gross Settlement (RTGS) system of Reserve Bank of India
MoneyClick Internet Banking was launched on 28 October 2005
Forayed into DP (Demat) activity under the aegis of Central Depository Services (India) Ltd. (CDSL) on 16 March 2006
Business turnover crossed ₹21,000 crore
The Bank is No. 1 among the old private sector banks as per the KPMG Survey of Business Today
The Bank is the 19th Best Bank as pointed out by KPMG survey of country’s best banks

The Bank completed the deployment of Finacle core banking solution at all the branches & became 100% CBS
Online booking of Indian railway tickets through the Bank’s internet banking portal

Introduced SMS alerts facility, online shopping facility, online payment in merchant establishments, e-Hundi
The Bank has white label agreement with Calyon Bank (belonging to the Credit Agricole Group of France) to provide risk management services, which enables our Bank to provide hedging products like derivatives to our customers
Opened central processing center at Mangalore
Business turnover crossed ₹25,000 crore

The Bank launched KBL QuikRemit, a web based inward remittance facility for NRIs residing in Canada, UK & USA for easy remittance of money from abroad through Payquik.com Inc.
The Bank has successfully implemented the three-way data replication process aimed at zero data loss
Installed CIS software at all branches for credit proposals
Cheque Truncation System started as pilot project at Delhi

Introduction of MoneyPlant International Gold Debit Card, m-commerce, e-commerce
Introduction of deposit products, KBL Kishore, KBL Tarun, KBL Salary Privilege, SB Money Platinum, CA Money Platinum
200th ATM at Salem-Fairlands
450th Branch at Tambaram (Tamil Nadu State)

Introduction of deposit products, KBL Vanitha
Introduction of loan products, KBL Mortgage, KBL Mahila Udyog, KBL Instant Agri Credit, KBL Agri Gold
Launched KBL Mpower biometric smart card at Babbur Grama in Hiriyur Taluk of Chitradurga District
Rights issue in the ratio of 2:5 at a price of ₹85

Business turnover crossed ₹50,000 crore
Introduction of point of sale (POS) network facility
Launched KBL Gift Card and KBL Travel Card
Launched K-Family Care, a unique health insurance policy by Universal Sompo General Insurance Co Ltd, specially designed and exclusively marketed to customers of our Bank

Commenced to act as a Self Certified Syndicate Bank (SCSB) by providing the facility of Application Supported by Blocked Amount (ASBA)
Launched KBL Mobile, a mobile banking solution
Launched a corporate caller tune as a part of a new initiative in the branding exercise of the Bank
The Bank has raised ₹250 crore by issue of non-convertible subordinated debt instruments in the nature of debenture (lower tier 2 bonds) with a tenor of 10 years on private placement basis

Introduction of Basic Savings Bank Deposit Account and SB Small Account
Introduction of loan products named MSE Support, Kisan Mitra, Krishik Godham
Installed IVR (Interactive Voice Response) system at our customer care center, Bangalore, to improve the efficiency of customer service through phone banking
Converted New Delhi – Connaught Place branch into a corporate finance branch

The Bank opened its first e-Lobby (24x7 banking services) at Bengaluru – Jayanagar 9th Block on 19 March 2015
Opened 1000th MoneyPlant ATM at Chamundi Hills, Mysuru on 30 March 2015
The Bank achieved a business turnover of ₹75,000 crore on 31 December 2014
The Bank celebrated the centenary year of Late K S N Adiga, Doyen of the Bank, on 5 November 2014

The Bank gets ISO 27001:2013 certificate from UKAS Management Systems, a UK based accreditation certifying body, on 8 June 2015

The Bank launched its KBL POS Manager mobile app for its POS (EDC) merchants on 4 August 2016
The Bank launched its KBL SMARTz UPI app on 25 August 2016
Rights issue in the ratio of 1:2 at a price of ₹70 from 07 November 2016 to 28 November 2016
Opened Centralized Account Verification Cell (CAVC) at Mangaluru on 14 October 2016

Chikkamagaluru Branch – Golden Jubilee celebration on 6 May 2017
The Bank launched KBL Image Debit Card on 29 June 2017
The Bank launched “Met Loan & Life Suraksha” single premium plan and mobile app on 20 July 2017

The Bank launched Deposit Only Card on 14 June 2018
The Bank launched Cash@POS facility on 9 July 2018
The Bank launched DigiLocker account facility through its MoneyClick Internet Banking facility on 19 July 2018
The Bank integrated its education loan with Govt of India’s Vidya Lakshmi portal on 23 June 2018
The Bank’s customer base crossed 1 crore
The Bank launched the KBL Mobile Plus mobile banking app on 1 January 2019
The Bank introduced the KBL TASC Account on 15 November 2018

The Bank posts an all-time high annual net profit of ₹477.24 crore for the FY2018-19
The Bank launches KBL SB Salary Account with 3 variants
The Bank launched VASOOL SO-Ft web tool for initiating & monitoring recovery action in NPA accounts on 1 July 2019
The Bank posted an all-time high Q1 net profit of ₹175.42 crore
The Bank launched online platform for sale of mutual funds with Fisdom on 2 August 2019
The Bank’s in-house magazine ‘Abhyudaya’ awarded as the Best In House Magazine by BTVI

The Bank launches RuPay National Common Mobility Card (NCMC), a contactless debit card
Mahabaleshwara M S, MD & CEO of Karnataka Bank, conferred with the CEO of the Year Award
The Bank operationalizes its wholly owned non-financial subsidiary – KBL Services Ltd.

Karnataka Bank qualifies to act as ‘Agency Bank’ to facilitate government business transactions
Mswipe’s Android-based POS device, WisePOS Go to benefit Karnataka Bank SME customers with seamless digital acceptance and payment solutions
Karnataka Bank awarded at the 19th edition of Asia Pacific HRM Congress
Karnataka Bank awarded for digital payments by GoI
Karnataka Bank launches Online KYC updation portal

Launched online savings account opening facility through video-based customer identification process (V-CIP)
The Bank’s two digital banking units (DBU) dedicated to the nation by Hon’ble Prime Minister Narendra Modi
Released the centenary emblem on 1 November 2022

The Bank has been authorized by Reserve Bank of India for collection of direct and indirect taxes on behalf of CBDT and CBIC
The Bank attains record-breaking annual net profit of ₹1,179.68 crore for FY2022-23, marking a milestone year ahead of its centenary
The Bank inaugurates the Technology & Digital Hub at Bengaluru
Door-step gold loan facility launched in collaboration with SahiBandhu
The Bank inks a pact with HDFC Life Insurance Company Ltd. to distribute life insurance products