Vijaya Bank

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Vijaya Bank
Traded as BSE532401
Industry Financial
Commercial banks
Founded 23-Oct-1931; 86 years ago (23-Oct-1931)
at Mangaluru, India
Founder Sri Attavara Balakrishna Shetty
Headquarters Bengaluru, India
Key people
R. A. Sankara Narayanan
(MD & CEO)
Products Consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, wealth management
Revenue Increase 12,379 crore (US$1.7 billion)(2017)[1]
Increase 2,421 crore (US$340 million) (2017)[1]
Increase 750.48 crore (US$100 million) (2017)[1]
Total assets Increase154,881.57 crore (US$22 billion) (2017) [1]
Owner Government of India
Number of employees
15,679 (2017)[1]
Capital ratio 12.73% (2017)[1]
Attavar Balakrishna Shetty, Founder Chairman of Vijaya Bank

Vijaya Bank[2][3][4] is a public sector bank with its corporate office in Bangalore, Karnataka, India. It is one of the nationalised banks in India. The bank offers a wide range of financial products and services to customers through its various delivery channels. The bank has a network of 2031 branches (as of March 2017) throughout the country and over 4000 customer touch points including 2001 ATMs.[5][6]


Vijaya Bank Founders Branch Mangaluru

Vijaya Bank was established by a group of farmers led by A. B. Shetty on 23 October 1931[7] in Mangaluru in Dakshina Kannada District of Karnataka State. Since it was established on the auspicious Vijayadashami Day, it was named 'Vijaya Bank'.[8]

During the economic chaos created out of the Great Depression of 1927–30, Shetty approached leading Bunt personalities to start a bank with the objective of extending credit facilities at a lower rate of interest to enable the farmers to cultivate their lands and prevent them from falling into the clutches of money lenders. Accordingly, Shetty involved 14 Bunts and established Vijaya Bank on 23 October 1931. In the beginning the bank had an authorised capital of 5 lakh and an issued capital of 2 lakh. The paid up capital was 8,670.[citation needed]

Growth and nationalisation[edit]

The bank grew steadily since its inception. The bank became a scheduled bank in 1958. . Under the chairmanship of Shri. Mulki Sunder Ram Shetty, Vijaya Bank steadily grew into a large All India Bank with 9 smaller banks merging with it during 1963–1968. In 1965, the bank registered its own logo. The bank's head office was shifted to Bengaluru on November 11, 1969. The bank was nationalised on 15 April 1980. At the time of nationalization, the bank had 571 branches, with a total business of 605.95 crore and a staff strength of 9059.[citation needed]

The present head office building of the Bank at Mahatma Gandhi Road, Bengaluru was inaugurated on 26 October 1984. The current MD & CEO of VijayaBank is Shri R.A.Sankara Narayanan[9]

Business operations[edit]

The bank's total business is over 2,29,000 crore comprising deposits of 1,33,012 crore and advances of 96,821 crore as at 31 March 2017. Basically being a retail bank, its topline growth owes quite a lot to the retail segments. Retail advances of the bank constitute 30% of the gross credit.[10]

Network and distribution[edit]

As on 31 March 2017, the bank had a wide branch network of 2031 branches. Improving the presence and performance under alternative delivery channels, especially internet and mobile banking channel are key focus areas of the bank. The bank has 2001 ATMs as on 31 March 2017. Vijaya Bank provides access to over 2.21 lakh ATMs connected under National Financial Switch across the country.[11][citation needed]

Financial inclusion initiatives[edit]

The Bank has been actively pursuing the agenda of financial inclusion. The bank's initiatives in this direction aim at financial empowerment and reaching banking services to the rural masses. The Bank has been opening Basic Savings Bank Accounts under Pradhan Mantri Jan Dhan Yojana and providing all the account holders with Rupay debit cards. The bank participates in promoting social security schemes such as Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and Atal Pension Yojana. The bank is also implementing the modified Direct Benefit Transfer (DBT) programme of the Government of India.[12][citation needed]

Corporate social responsibility[edit]

The bank has provided sanitation facilities to 56 govt. schools mostly in rural areas. The bank has established 32 rural health centres where patients are provided primary healthcare and medicine free of cost.[13] It has also has devised a unique programme to adopt girl children. The policy of Girl Child Adoption was introduced by the bank in 2011 under which the bank adopts girl children from SC/ ST/ OBC/ economically weaker sections / backward areas/ poor families from the age of 5 years onwards to promote girl child education, mostly from rural and backward areas. The bank has adopted 1163 girl children all over the country.[13]


  • FreeBuzz': missed call services to enable customers to know their account balance easily
  • V-GyanSagar: a unique initiative taken by Vijaya Bank to impart financial literacy to public. It is Android based mobile application that enables its subscribers to receive regular updates on banking and financial news. It provides explanation of banking terminologies.
  • V-Abacus: This initiative enables the public to open a bank account by giving a missed call. Tablet banking facility has been implemented.
  • V-QuickPay: a unique next generation bill payment service where bill payment is made by scanning the QR code on the bill generated by the merchant. There is no need to swipe credit or debit cards.
  • V-Fee Hive: The bank's in-house software development team has developed an application for collection of fees by educational institutions, collection of monthly maintenance charges by housing societies, collection of fees by clubs. This application was implemented in various prestigious institutions like IIM-Kozhikode, Mount Carmel College -Bangalore, Army Public School-Delhi, MSRIT Bangalore and Vasavi Pearl Apartment.
  • V-eWallet: a unique secured small payment collection system designed using UNIQUE-pull technology.
  • UPI: Vijaya Bank has recently rolled out Unified Payment Interface (UPI) which is introduced by the RBI.


On 17 September 2018, The Finance Ministry of the Government of India proposed to merge the three three state run banks i.e. Vijaya Bank, Bank of Baroda and Dena Bank into a single bank as an effort to consolidate the country's banking system.[14][15] The amalgamated bank is to become the third biggest bank in India with a total business of more than 1,482,000,000,000 (US$21 billion). The boards of the three banks are to meet to consider the proposal.[16] The agenda behind the merger of the banks is to lower Non-performing assets.[citation needed] The Gross NPA OF the Bank of Baroda, Vijaya Bank and Dena Bank is 12.4%, 6.9% and 22% respectively.[citation needed] The Dena Bank is currently operating under the Prompt Corrective Action (PCA) framework due to non-performing loans.[17]


  1. ^ a b c d e f "Annual Report of Vijaya Bank" (PDF). 
  2. ^ Mehta, Sangita (2018-07-23). "Vijaya Bank reports 41% dip in profit, stock up 4%". The Economic Times. Retrieved 2018-07-29. 
  3. ^ Mehta, Sangita (2018-07-26). "Vijaya Bank's NPAs could fall below 3% by March: RA Sankara Narayanan". The Economic Times. Retrieved 2018-07-29. 
  4. ^ "Vijaya Bank registers Rs. 144 crore profit in Q1". The Hindu. Special Correspondent. 2018-07-25. ISSN 0971-751X. Retrieved 2018-07-29. 
  5. ^
  6. ^ Business Line April 3, 2017
  7. ^ "A banker erased from memory". Deccan Herald. Retrieved 27 February 2012. 
  8. ^ Vijaya Bank - Inception Archived 8 September 2008 at the Wayback Machine.
  9. ^
  10. ^ [1]
  11. ^ [2]
  12. ^ [3]
  13. ^ a b [4]
  14. ^ "Dena Bank, Vijaya Bank, Bank Of Baroda To Be Merged, Says Government". Retrieved 2018-09-17. 
  15. ^ "Bank of Baroda, Vijaya Bank and Dena Bank to be merged". The Economic Times. 2018-09-17. Retrieved 2018-09-17. 
  16. ^ Nair, Remya (2018-09-17). "Govt proposes merger of BoB, Dena, Vijaya Bank". Retrieved 2018-09-17.  External link in |work= (help)
  17. ^ "RBI puts Dena Bank under prompt corrective action". The Economic Times. 2018-05-12. Retrieved 2018-09-19. 

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