Karnataka Bank

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Karnataka Bank Limited
Traded asBSE532652
IndustryBanking, Financial services
Founded1924; 96 years ago (1924)
HeadquartersMangaluru, Karnataka, India
Key people
Mahabaleshwara M. S
(MD & CEO)
ProductsRetail Banking, Corporate Banking, Finance and Insurance, Credit Card, Mortgage loans, Private banking, Wealth management, Investment banking
RevenueIncrease5,785.18 crore (US$810 million) (2019)[1]
Decrease 1,449.81 crore (-1.59%) (2019)[1]
Increase 477.21 crore (US$67 million) (+46.57%) (2019)[1]
Total assetsIncrease79,045.76 crore (US$11 billion) (2019)[1]
Number of employees
8,275 (2019)[1]
Capital ratio13.17%[1]

Karnataka Bank Limited is India's twelfth largest private sector bank. It is an 'A' Class Scheduled Commercial Bank based in Mangaluru in Karnataka, India. Karnataka Bank Limited has a network of 848 branches, 1540 ATMs and 330 e-lobbies/mini e-lobbies across 22 states and 2 union territories. It has 8,275 employees and over 10.21 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".[2][3]

Karnataka Bank Limited has adopted Core banking, Internet banking and has established its "MoneyPlant" [1540 Automated Teller Machine] system across the country.


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.[4] Among the founders, who created the bank to serve the South Kanara region, was B. R. Vysaray Achar.[4] K. S. N. Adiga, who served as the Chairman from 1958 to 1979.[4]

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.[5].[6] The main motto of this programme is "Anytime/Anywhere banking".[6] In the year 2004, the bank introduced the MoneyPlant Debit Card that allows customers to withdraw money from their Karnataka Bank accounts.[5][7]

In September 2003, the bank shifted its head office from Kodialbail to Kankanady.[4][5]


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 Indians living in Canada, United States, and the UK.[8][9] The bank also runs a 24-hour Internet banking service called MoneyClick.[10]

The 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[edit]

  • KBL Mobile Plus
  • KBL mPassbook
  • KBL POS Manager

C.E.O & M.D/ Chairman[edit]

  • 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)
  • Mahabaleshwara M. S (15 April 2017- )


Shri Mahabaleshwara M S, Managing Director & CEO received the award from Shri Sonu Sood, Famous Bollywood actor, in the glittering function held at Bengaluru on September 19, 2019. Bank has won the ET BUSINESS EXCELLENCE AWARD 2019 in the category “Excellence in Banking Service”.

Shri Sreedhar S, Assistant General Manager, New Delhi – Corporate Finance Branch, received the award from Shri Supratim Badyopadhyay, WTM (Finance), PFRDA along with Shri Ashish Kumar, Chief General Manager, and others during APY Regional Review Meeting and Felicitation Programme held at New Delhi on 01.07.2019. Bank has bagged this award for achieving 100% of AAPB [Average Accounts per Branch] target by 31-03-2019, set by PFRDA.

Bank has bagged Runner up award in ‘Most Customer Centric Bank’ under Small Bank category, in the IBA banking technology awards 2019, held at Mumbai. Shri Gokuldas Pai and Shri Manjunatha Bhat B K, General Managers received the award from Prof. N Balakrishnan, Professor at Indian Institute of Science, Bengaluru and Shri Sunil Mehta, Chairman, IBA. Shri Venkatakrishna Bhat and Shri Ananthapadmanabha B, DGMs, and officials from IBA were present on the occasion.

See also[edit]


  1. ^ a b c d e f "Balance Sheet 31.03.2019" karnatakabank.com
  2. ^ "Key offices". Karnataka Bank Ltd.
  3. ^ SEBI profile, pg. 38
  4. ^ a b c d SEBI profile, pg. 34
  5. ^ a b c SEBI profile, pg. 35
  6. ^ a b SEBI profile, pg. 56
  7. ^ SEBI profile, pg. 40
  8. ^ "Quick Remit Money Transfer Service". Karnataka Bank Ltd.
  9. ^ "Karnataka Bank launches new facility". The Hindu. 30 September 2008.
  10. ^ "Internet banking". Karnataka Bank Ltd.

External links[edit]