Karnataka Bank

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Karnataka Bank Limited
Traded asBSE532652
IndustryBanking, Financial services
Founded1924; 95 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
RevenueIncrease5,185.40 crore (US$720 million) (2017)[1]
Increase 1,473.16 crore (+47.94%) (2018)[1]
Decrease 325.61 crore (US$45 million) (-28.00%) (2018)[1]
Total assetsIncrease64,126.54 crore (US$8.9 billion) (2017)[1]
Number of employees
8,220 (2018)[1]
Capital ratio12.04%[1]

Karnataka Bank Limited, is an 'A' Class Scheduled Commercial Bank based in Mangaluru in Karnataka, India. Karnataka Bank Limited has a network of 836 branches, 1374 ATMs and 330 e-lobbies/mini e-lobbies across 22 states and 2 union territories. It has 8,300+ employees and over 10 million customers throughout the country. Its shares are privately owned by over 1,85,000 shareholders. The tagline of the bank is "Your Family Bank Across India".[2][3]

In August 2008, Karnataka Bank Limited received the Sun and NDTV Green IT Award. Sun Microsystems and NDTV gave the award to in recognition of the bank's "green policies" and use of earth-friendly technology such as solar power.[4][5][6][7][8][9]

The bank has the Best Bank Award for "Managing IT Risk" under small bank category for the year 2010-11, instituted by Institute for Development and Research in Banking Technology (IDRBT). Shri Anand Sinha, deputy governor, Reserve Bank of India and chairman, IDRBT presented the award to Shri P. Jayarama Bhat, Managing Director at a function held in Hyderabad on 4 August 2011 in the presence of Shri B. Sambamurthy, director, IDRBT.[10]

Karnataka Bank Limited has adopted Core banking, Internet banking and has established its "MoneyPlant" [1374 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.[11] Among the founders, who created the bank to serve the South Kanara region, was B. R. Vysaray Achar.[11] K. S. N. Adiga, who served as the Chairman from 1958 to 1979.[11]

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 with Infosys Technologies to develop a core banking solution called Finacle.[12] Over 221 branches were networked up to 31 March 2004.[13] The main motto of this programme is "Anytime/Anywhere banking".[13] In 2002, the bank concluded a pact with Corporation Bank for sharing its ATMs.[12] A year later, the bank introduced the Moneyplant card that allows customers to withdraw money from any of their Karnataka bank accounts.[12][14]

In September 2003, the bank shifted its head office from Kodialbail to Kankanady.[11][12]


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.[15][16] The bank also runs a 24-hour Internet banking service called Moneyclick.[17]

Karnataka Bank Limited offers multi-branch banking, deposit schemes as Abhyudaya Cash Certificate, Fixed Deposits, Ready Money Deposit, Soulabhya Deposit, Cumulative Deposit, Platinum Lakhpathi, Insurance Linked Savings Bank Deposit, K-Flexi Deposit, Resident Foreign Currency (Domestic) Account, NRI Services, Senior Citizens Deposit Scheme and Loan schemes as Vidyanidhi Education Loans, Apna Ghar Home Loans, Car Finance Scheme, Varthak Loans, Easy Ride, Scheme for salaried persons, Udyog Mithra, Niveshan Loans, Krishi Card, K-Power, Lease ‘n’ Encash, Suvarna Nidh, InstaCash and VahanaMitra.

Digital banking[edit]

  • KBL Mobile Plus
  • KBL Mobile
  • KBL mPassbook
  • KBL ApnaApp
  • KBL Smartz
  • 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- )

See also[edit]


  1. ^ a b c d e f "Balance Sheet 31.03.2017" karnatakabank.com (15 March 2018).
  2. ^ "Key offices". Karnataka Bank Ltd.
  3. ^ SEBI profile, pg. 38
  4. ^ "Karnataka Bank Wins Sun and NDTV Green IT Award" (Press release). Karnataka Bank, Ltd. 27 August 2008.
  5. ^ "Karnataka Bank bags Green Prize". Deccan Chronicle. 26 August 2008.
  6. ^ "Sun Technovate '08". Sun Microsystems.
  7. ^ "Mangalore: Karnataka Bank Wins Sun and NDTV Green IT Award". Daijiworld. 25 August 2008.
  8. ^ "Karnataka Bank wins Sun and NDTV Green IT Award". Karmayog.
  9. ^ "Bank wins Green IT award". Deccan Herald. 25 August 2008.
  10. ^ "Bank Bags IT Award" (Press release). Karnataka Bank, Ltd. 4 August 2011.
  11. ^ a b c d SEBI profile, pg. 34
  12. ^ a b c d SEBI profile, pg. 35
  13. ^ a b SEBI profile, pg. 56
  14. ^ SEBI profile, pg. 40
  15. ^ "Quick Remit Money Transfer Service". Karnataka Bank Ltd.
  16. ^ "Karnataka Bank launches new facility". The Hindu. 30 September 2008.
  17. ^ "Internet banking". Karnataka Bank Ltd.

External links[edit]