Karnataka Bank

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The Karnataka Bank Limited
Traded as BSE532652
Industry Banking, Financial services
Founded 1924; 93 years ago (1924)
at Mangaluru, India.
Headquarters Mangaluru, Karnataka, India
Key people
P Jayarama Bhat (MD)
Products Retail banking, corporate banking, finance and insurance, mortgage loans,
Revenue 750587 crores(March 2014)
Profit 415.00 crores (31.03.2016)
Total assets 47028.80 crores(May 2014)
Number of employees
Website karnatakabank.com

The Karnataka Bank Limited (Kannada: ಕರ್ಣಾಟಕ ಬ್ಯಾಂಕ್) is a major banking institution based in the coastal city of Mangaluru in Karnataka, India. The Reserve Bank of India has designated Karnataka Bank as an A1+-class scheduled commercial bank.

Karnataka Bank currently has a network of 756 branches and above 1334 ATM's across 21 states and two Union territories. It has over 7600 employees and 6.7 million customers, including farmers and artisans in villages and small towns throughout the country. Its shares are entirely privately owned by some 1,29,862 shareholders.[1][2]

Current position[edit]

The total business turnover of the Bank was 81,315 crores as on 30-09-2015, registering a y-o-y growth of 10.01%. Deposits of the Bank rose to ` 48,872 crores registering a y-o-y growth of 10.58%. Advances rose to ` 32,443 crores registering a y-o-y growth of 9.17%.

Karnataka Bank has adopted core banking and Internet banking, and established its "MoneyPlant" [1100+ automated teller machine] system. During 2015-16, the bank received the IDRBT Banking Technology Excellence Award of the Institute for Development and Research in Banking Technology [IDRBT], Hyderabad for the year 2014-15. Karnataka Bank has received the Federation of Indian Export Organizations – Western Region's “Export Excellence Award for MSME”, for the year 2014 -15. Lastly, the bank has achieved the ISO 27001:2013 Certificate from UKAS, Management Systems, a UK based certifying body.

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.[3]

In August 2008, Karnataka Bank 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]

Karnataka Bank ATM


Karnataka Bank 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.[10] Among the founders, who created the bank to serve the South Kanara region, was B. R. Vysaray Achar.[10] Another important personality associated with the bank was K. S. N. Adiga, who served as Chairman from 1958 to 1979.[10]

In the 1960s Karnataka Bank acquired three smaller banks. In 1960 Karnataka Bank acquired the Sringeri Sharada Bank, which was established in 1942 and which had four branches when Karnataka acquired it. Four years later, Karnataka Bank took over the assets and liabilities of the Chitradurga Bank (also known as Chitladurg Bank), which was established in 1868 in Mysore State and was the oldest bank in Mysore. Lastly, in 1966 Karnataka Bank took over the assets and liabilities of the Bank of Karnataka, in Hubli. Bank of Karnataka had been 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 signed a memorandum of understanding with Infosys Technologies to develop a core-banking solution called FINACLE.[11] Over 221 branches were networked up to 31 March 2004.[12] The main motto of this programme is "Anytime/Anywhere banking".[12] In 2002, the bank concluded a pact with Corporation Bank for sharing its ATMs.[11] A year later, the bank introduced the Moneyplant card that allows customers to withdraw money from any of their Karnataka bank accounts.[11][13]

In September 2003, the bank shifted its head office from Kodialbail to Kankanady.[10][11]


The branches are available in 21 Indian states and 2 union territories. In August 2008,the Karnataka Bank introduced Quick Remit, a facility to make money transfer easy for Non-Resident Indians living in Canada, United States and the UK.[14][15] The bank also runs a 24-hour Internet banking service called Moneyclick.[16]

Karnataka Bank 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 Nidhi, InstaCash and VahanaMitra.

Digital Banking[edit]

In July 2015 Karnataka Bank has launched two mobile applications - ‘KBL ApnaApp’ and ‘KBL m-PassBook’.

‘KBL-ApnaApp’ is an Android-based SMS banking application, which will work on the basis of SMS authentication. Since app works on SMS authentication, there is no need of GPRS/Wi-Fi connection, except for downloading the app/getting app updations, says a press release by the bank. Customer has to be registered for bank’s mobile banking services for using the app.

‘KBL-mPassBook’ is an e-passbook mobile application, which facilitates download and viewing of account entries on smartphone and tablet. Features such as adding personalised remarks to transactions and creating personalized ledger are part of this app.

Both the apps are available to customers free of cost and can be downloaded from the Google Play Store. In 2016 bank has launched two more apps. One is "KBL smartz app" on upi platform of NPCI. Second one is "KBL POS MANAGER" for the customers having POS machine of the bank.

List of chairmen[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)
  • P. Jayaram Bhat (for next three years from 12 July 2009)



  • "ABP News - BFSI [Banking Financial Services & Insurance] Best Bank Award" under the Category of Private Sector Banks[18]
  • "Federation of Indian Export Organisations [FIEO] Southern Region Excellence Award 2012-13" under the category of Best Performing Financial Institution, Southern Region, for its excellent export performance during the year 2012-13
  • "Runner Up" of ASSOCHAM Social Banking Excellence Award 2013 under the "Private Sector Banks Category"
  • Sunday Standard FINWIZ -2013 Best Bankers Awards under the following 3 categories
  1. Best Bank for Customer Friendliness under the category of Midsized Banks.
  2. Best Banker for Customer Orientation under the category of Private Sector Banks
  3. Best Banker for HR under the category of Private Sector Banks
  • IDRBT Banking Technology Excellence Awards 2012-13 among Small Banks, under the following categories
  1. Best Bank Award for Managing IT Risks
  2. Best Bank Award for use of IT for business innovation
  • IBA Banking Awards
  1. 2nd Runner-up under Best Financial Inclusion Initiative
  2. 2nd Runner-up under Best Risk Management and Facility Initiative
  • Runner-up national award for the BEST BANKER FOR CUSTOMER FRIENDLINESS among the midsized Banks

See also[edit]


  1. ^ "Key offices". Karnataka Bank Ltd. 
  2. ^ SEBI profile, pg. 38
  3. ^ "Bank Bags IT Award" (Press release). Karnataka Bank, Ltd. 4 August 2011. 
  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. ^ a b c d SEBI profile, pg. 34
  11. ^ a b c d SEBI profile, pg. 35
  12. ^ a b SEBI profile, pg. 56
  13. ^ SEBI profile, pg. 40
  14. ^ "Quick Remit Money Transfer Service". Karnataka Bank Ltd. 
  15. ^ "Karnataka Bank launches new facility". The Hindu. 30 September 2008. 
  16. ^ "Internet banking". Karnataka Bank Ltd. 
  17. ^ http://www.answers.com/topic/karnataka-bank
  18. ^ http://www.karnatakabank.com/ktk/Awards.jsp

External links[edit]