ABOUT KARNATAKA BANK LTD

The Karnataka Bank was incorporated on February 18, 1924, as The Karnataka Bank Limited and commenced business on May 23, 1924. Its founders established it at Mangalore, a coastal town in the Dakshina Kannada district of Madras Presidency. Among the founders, who created the bank to serve the South Kanara region, was B. R. Vysaray Achar. Another important personality associated with the bank was K. S. N. Adiga, who served as Chairman from 1958 to 1979.

1960: Karnataka Bank acquired the Sringeri Sharada Bank, which had been established in 1942 and which had four branches.

1964: Karnataka Bank took over the assets and liabilities of the Chitradurga Bank (also known as Chitladurg Bank), which had been established in 1868 in Mysore State and was the oldest bank in Mysore.

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 the acquisition, Bank of Karnataka had 13 branches.

In the year 2000, Karnataka Bank signed a memorandum of understanding with information technology to develop a core-banking solution called FINACLE. Over 221 branches were networked up to March 31, 2004 the main motto of this programme is "Anytime/Anywhere banking". In 2002, the bank concluded a pact with Corporation Bank for sharing its ATMs. A year later, the bank introduced the Money plant card that allows customers to withdraw from any of their Karnataka bank accounts. In September 2003, the bank shifted its head office from Kodialbail to Kankandy.

Businesses of Karnataka Bank Ltd:

Personal Banking- Under this Karnataka Bank offers Wide range of products and services such as saving accounts, deposit scheme, home loans, education loans, debit card, mobile banking internet banking and many more,

Corporate Banking- It offers spectrum of services to its corporate client such as Working capital finance, term loans, in Infrastructure finance and other services.

For its insurance services it has a tie up with Metlife India Insurance Company and Bajaj Allianz General Insurance Company.

It also provides RTGS and Money Transfer Facility to its NRL clients through Western Union Money Transfer.

Banking Services:

Personal Banking	NRI Banking	Corporate Banking
Deposits	Money Transfer	Corporate Net
Loans	Bank Account	Cash Management
Cards	Investment	Trade Service
Invest/ Insurance	Property Solution	Forex on-time
Demat Service	Insurance	SME Service
Online Services	Loans	Online Taxes
Property Service		Custodial
Wealth Management		Services

Technology:

Throughout the years, the Karnataka bank focused has on one task, one mission –TO Give customer the best in services and in products. Among other Banks, it was Karnataka Bank who first realized the importance of having a Centralized Banking system and was among the first to deploy the Core Banking System in the year 2000. This system enable the bank to store and process all the customers accounts from one single place –the Data Center at Bangalore, To ensure that the Customers have the best it has deployed the State-Of-Art technology from the best players in the Industry like Infosys, Sun and Wipro. These systems provide the highest reliability thus enabling the bank to offer to the customer Non-Stop services of the highest order.

The bank has taken a lead and implemented a Disaster Recovery Centre. This centre will replicate the Banks Centralized Banking system and all its data. This centre will also be the backup for the ATM operations, In the event of a natural disaster at Bangalore, this center will immediately come into force and provide full continuous service. Leaving nothing to chance.

At Karnataka Bank, Business never stops. The bank has ensured the customer business is protected by Non- Stop Banking

Outlook:

Karnataka Bank has entered into Memorandum of Understanding with investment Information Credit Rating Agency ICRA (ICRA).ICRA will assign rating to bank’s loan and its other exposure under the standardized approach of RBI’s New Capital Adequacy Framework for Basel –II.

Mission Statement:

"Our mission is to be a technology savvy, customer centric progressive bank with a national presence, driven by the highest standards of corporate governance and guided by sound ethical values."

Services of Karnataka Bank Ltd:

In August 2008, the Karnataka Bank introduced Quick Remit, a facility to make money transfer easy for Non- resident Indians living in Canada, USA and the UK. The bank also runs a 24-hour internet banking service called Money click.

Karnataka Bank also 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 loan scheme, Apna ghar home loans, car finance scheme, Varthak loans, Easy ride, Scheme for salaried persons, Udyog Mithras, Nevisian loans, Krishi card, K-Power, Lease ‘n’ Encash, Suvarna Nidhi, InstaCash and VahanaMitra.

The Karnataka Bank, understand that all customers are different in unique ways, which is why, regardless of the size of customer, business or customer aspirations; it treat everyone as individual and special. This means offering the customer choices, not only in relation to its products and services but also in the way the customers interact with the bank. Karnataka bank understands the changes in your lifestyle, recognize these changes and support the customer with a high standard of professionalism and service.

As a premier bank, Karnataka Bank has developed comprehensive range of customized products and services suitable for every kind of market, trade or perceived need - Business or Personal. They include, borrowing facilities, deposits, providing optimum returns on surplus funds or helping with overseas transactions.

The bank believes in total quality at all levels. It has deployed the most modern information technology to deliver products and services for customer benefit with an aim to develop an effective long-term relationship. But most of all, Technology is matched to the customer expectations of service, for today and for the future.