CleanupBot II at 08:23, 14 August 2023

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{{Advert|date=May 2020}}
{{Use Indian English|date=October 2015}}
{{Use dmy dates|date=October 2015}}
{{Infobox company
| name = Karnataka Bank Limited
| logo = Karnataka Bank svg Logo.svg
| logo_size = 300px
| caption =
| traded_as = {{BSE|532652}}<br>{{NSE|KTKBANK}}
| industry = [[Bank]]ing, [[financial services]]
| foundation = {{start date and age|df=yes| 18 February 1924 }}
| location = [[Mangaluru]], [[Karnataka]], India
| key_people = {{ubl| P Jayarama Bhat <br>{{small|(Part-Time Non-Executive Chairman)}}| Mahabaleshwara M. S <br> {{small|([[CEO|Managing Director & Chief Executive Officer]])}}}}
| products = [[Retail Banking]], [[Corporate/Wholesale Banking]], [[Treasury Operations]], [[Credit Card]], [[Bancassurance]]
| revenue = {{increase}}{{INRConvert|6642.24|c}} (2021)<ref name="BalSheet">[https://karnatakabank.com/sites/default/files/2021-05/SEBI%20PAPER%20PUB%20TO%20WEBSITE.pdf "Balance Sheet 31.03.2021"] karnatakabank.com</ref>
| operating_income = {{increase}} 1,999.14 crore (20.66%) (2021)<ref name="BalSheet"/>
| net_income = {{increase}} {{INRConvert|482.57|c}} (11.76%) (2021)<ref name="BalSheet"/>
| assets = {{increase}} ₹85,581.34 crore (2.72%) (2021)<ref name="BalSheet"/>
| equity =
| num_employees = 8,423 (2021)<ref name="BalSheet"/>
| ratio = 14.85%<ref name="BalSheet"/>
| homepage = {{URL|https://karnatakabank.com|karnatakabank.com}}
}}

'''Karnataka Bank Limited''' is India's twelfth largest private sector bank. It is an 'A' Class Scheduled Commercial Bank based in [[Mangalore|Mangaluru]] in [[Karnataka]], India. Karnataka Bank Limited has a network of 858 branches, 1 Extension Counter, 1,001 ATMs and 462 e-lobbies/mini e-lobbies across 22 states and 2 union territories. It has 8,423 employees and over 11 million customers throughout the country. Its shares are privately owned by over 1,46,000 shareholders. The tagline of the bank is "Your Family Bank Across India".<ref name="karnatakabank_keyoffices">{{cite web|title=Key offices|url=http://karnatakabank.com/ktk/KeyOffices.jsp|publisher=Karnataka Bank Ltd.}}</ref><ref name="sebiprofilep38">[[#SEBI profile|SEBI profile]], pg. 38</ref>

Karnataka Bank Limited has adopted [[Core banking]], [[Internet banking]] and has established its "MoneyPlant" [1,001 Automated Teller Machine] system across the country.

Karnataka Bank Limited, has operationalized its wholly owned non-financial subsidiary ‘KBL Services Limited’ w.e.f 30.03.2021. The KBL Services Ltd is having its Registered & Head Office at Bengaluru.

Shri Mahabaleshwara M.S, Managing Director & CEO of Karnataka Bank Limited, is the Non Executive Chairman of KBL Services Limited while Shri Manjunatha Bhat B.K, is the Chief Executive . With this new entity, Karnataka Bank Limited is taking a big step in re-aligning its business strategy with the objectives of improving efficiency and achieve better results and valuation in the long run. By moving some of the non-financial operations of the Bank like Management of alternate banking channels, Back-end processing activities, IT project & support, Digital capabilities, Business Sourcing, Contact Center Management etc. to the subsidiary in a phased manner, Karnataka Bank Limited will have a renewed focus on its core Banking business.

== History ==
Karnataka Bank Limited was incorporated on 18 February 1924, and commenced business on 23 May 1924. Its founders established it at [[Mangalore]], a coastal town in the [[Dakshina Kannada]] district of [[Karnataka]].<ref name="sebiprofilep34">[[#SEBI profile|SEBI profile]], pg. 34</ref> Among the founders, who created the bank to serve the South Kanara region, was B. R. Vysaray Achar.<ref name="sebiprofilep34"/> K. S. N. Adiga, who served as the Chairman from 1958 to 1979.<ref name="sebiprofilep34" />

In the 1960s Karnataka Bank Limited acquired three smaller banks. In 1960 Karnataka Bank Limited acquired the Sringeri Sharada Bank, which was established in 1942 had four branches. Four years later, Karnataka Bank Limited took over Chitradurga Bank (also known as Chitladurg Bank), which was established in 1868 in [[Mysore State]] and was the oldest bank in Mysore. In 1966 Karnataka Bank Limited took over Bank of Karnataka. Bank of Karnataka was established in 1946 and had opened one branch in [[Belgaum]] in 1947. At the time of this acquisition, Bank of Karnataka had 13 branches.

In 2000, Karnataka Bank Limited signed a [[memorandum of understanding (MoU)]] with [[Infosys Technologies]] to develop a core banking solution called [[Finacle]].<ref name="sebiprofilep35">[[#SEBI profile|SEBI profile]], pg. 35</ref><ref name="sebiprofilep56">[[#SEBI profile|SEBI profile]], pg. 56</ref> The main motto of this programme is "Anytime/Anywhere banking".<ref name="sebiprofilep56" /> In the year 2019, the bank has successfully migrated to Fin10. In the year 2004, the bank introduced the MoneyPlant Debit Card that allows customers to withdraw money from their Karnataka Bank accounts.<ref name="sebiprofilep35" /><ref name="sebiprofilep40">[[#SEBI profile|SEBI profile]], pg. 40</ref>

In September 2003, the bank shifted its head office from [[Kodialbail]] to [[Kankanady]].<ref name="sebiprofilep34" /><ref name="sebiprofilep35" />

== Services ==

The branches are available in 22 Indian states and 2 Union Territories.
In August 2008, the Karnataka Bank Limited introduced Quick Remit, a facility to make money transfer easy for [[Non-resident Indian and person of Indian origin|Non-Resident Indians]] living in Canada, United States, and the UK.<ref name="karnatakabank_quickremit">{{cite web|title=Quick Remit Money Transfer Service|url=https://remit.karnatakabank.com/|publisher=Karnataka Bank Ltd.|access-date=7 March 2009|archive-url=https://web.archive.org/web/20100131222214/https://remit.karnatakabank.com/|archive-date=31 January 2010|url-status=dead}}</ref><ref name="thehindu_remit">{{cite news|url=http://www.hindu.com/2008/08/30/stories/2008083055070500.htm|archive-url=https://web.archive.org/web/20080902010332/http://www.hindu.com/2008/08/30/stories/2008083055070500.htm|url-status=dead|archive-date=2 September 2008|title=Karnataka Bank launches new facility|work=[[The Hindu]]|date=30 September 2008}}</ref> The bank also runs a 24-hour Internet banking service called MoneyClick.<ref name="karnatakabank_internetbanking">{{cite web|title=Internet banking|url=http://karnatakabank.com/ktk/InternetBanking.jsp|publisher=Karnataka Bank Ltd.}}</ref>

Karnataka Bank Limited provides business and personal banking products and services in India. The bank operates in four segments: Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations. It accepts savings and current accounts, cash certificates, fixed and cumulative deposits, non-resident rupee accounts, ordinary non-resident accounts, and foreign currency accounts; and offers loan products, such as vehicle, home, education, personal, MSME, mortgage, women entrepreneur, gold, and other loans, as well as loans against property and fixed deposits. The bank also provides debit, credit, gift, deposit only, image, and travel cards; life, general, and health insurance products; investments services; and remittance and other services. In addition, it offers forex services, which include pre and post-shipment, export collection bills, export LC advising, inward remittance facility, import letter of credit, import bill collection, buyer's credit, and outward remittances. Further, the bank provides point of sale service for merchant's payment solutions: and KBL e-COLLECT, a fee payment processing platform, which enables the institution to offer parents and students a convenient way to pay their fees through a range of payment options. Additionally, it offers various loans for agriculture; and other services, such as Internet banking, mutual funds, demat services, locker facility, and funds transfer services.

==Digital banking==
* KBL Mobile Plus
* KBL mPassbook
* BHIM KBL UPI App
* KBL POS Manager
* KBL MoneyClick Internet Banking

== C.E.O & M.D/ Chairman ==

* B. R. Vyasaraya Achar (1924-1958)
* [[K. Suryanarayana Adiga]] (23 November 1958 – 15 February 1979)
* K. N. Basri (15 February 1979 – 19 February 1980)
* P. Raghuram (16 June 1980 – 15 June 1985)
* P. Sundar Rao (11 September 1985 – 10 September 1989)
* H. M. Rama Rao (11 January 1990 – 11 January 1993)
* U. V. Bhat (28 June 1993 – 27 June 1995)
* M. S. Krishna Bhat (12 July 1995 – 11 July 2000)
* Ananthakrishna (13 July 2000 – 11 July 2009)
* [[Polali Jayarama Bhat]] (12 July 2009 – 10 April 2017)
*[[M. S. Mahabaleshwara|Mahabaleshwara M. S]] (15 April 2017- )

==See also==

* [[Banking in India]]
* [[List of banks in India]]
* [[Reserve Bank of India]]
* [[Indian Financial System Code]]
* [[List of largest banks]]
* [[List of companies of India]]
* [[Make in India]]

== References ==
{{reflist}}

== External links ==
*[https://www.karnatakabank.com/ktk/Index.jsp Official website]

{{Banking in India}}
{{more categories|date=August 2020}}

[[Category:Banks based in Karnataka]]
[[Category:Private sector banks in India]]
[[Category:Banks established in 1924]]
[[Category:Companies based in Mangalore]]
[[Category:Banks established in Mangalore]]
[[Category:Indian companies established in 1924]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

Karnataka Bank - Revision history

CleanupBot II at 08:23, 14 August 2023