| Karur Vysya Bank-Strongest Private Sector Bank The bank has in place robust risk management systems and adheres to the tenets of Corporate Governance. The bank is well-equipped to boldly take up the challenges in the industry and emerge as a top-notch one-stop-shop techie financial supermarket. KVB will continue its endeavours to bring the best of products and services to its customers to emerge as the techie bank that provides the gateway to Smart Way to bank. (See attached file for the list of the largest shareholders in the Bank) A snapshot of the Bank's performance under various parameters for the past three financial years is as follows: (Rs. In crores) | Particulars | 2006 - 07 | 2007 - 08 | 2008 - 09 | 2009 - 10 | | Deposits | 9340.29 | 12549.99 | 15101.39 | 19271.85 | | Advances | 7040.48 | 9528.84 | 10562.90 | 13675.00 | | Net Profit | 160.01 | 208.33 | 235.84 | 336.03 | | Capital Funds | 1063.16 | 1190.00 | 1350.16 | 1619.98 | | Capital Adequacy | 14.51% | 12.58% | 14.92% | 14.49 | | Net NPA | 0.23% | 0.18% | 0.25% | 0.23% | Welcome to Karur Vysya Bank – the bank that carries with it a tradition of 94 years and yet is young enough to adapt itself to the rapidly changing scenario in the banking industry. Karur Vysya Bank was started in the year 1916 in Karur, then a small textile town with a vast agricultural background, by two illustrious sons of the soil – Sri M.A. Venkatarama Chettiar and Sri Athi Krishna Chettiar. What started as a venture with a seed capital of Rs. 1.00 lakh has grown into a leading financial institution that offers the wide gamut of financial services to millions of its customers under one roof. Financial landmarks of the bank: - Total business of the bank was at Rs. 32946.85 cr. with total deposits at Rs. 19271.85 cr. and total advances at Rs. 13675 cr. as on 31.03.2010. KVB is the first Tamilnadu based private sector bank to cross the milestone figure of Rs. 30000 cr. total business.
- The net profit of the bank for the year was Rs. 336.03 cr.
- The net owned funds of the bank are Rs. 1619.98 cr.
- The bank has a Capital Adequacy Raito of 14.49% (Basel II) as against the RBI stipulated norm of 9%.
- The bank has one of the lowest net NPA ratios in the country @ 0.26%.
- The bank has been earning profits since inception and has been declaring dividend uninterruptedly.
- The bank has declared 100% dividend since 2003-04. For 2005-06, 2007-08, 2008-09 and 2009-10, the dividend was 120%.
Branch and ATM network: -
The bank has a branch network of 335 and an ATM network of 376. (For the latest information on our branch network, please see "Latest News" on our home page). The bank plans to add another 50 branches by the end of the financial year 2010 - 11. Technological accomplishments: KVB is one of the earliest banks in the country to achieve full networking of its branches under Core Banking Solutions, offering services through multiple delivery channels. Some of the noteworthy accomplishments of KVB are: - Any Branch Banking
- Multicity Account facilities for both current and savings bank customers.
- Internet Banking.
- On line utility bill payments facility through Billdesk
- On line shopping facility through CCAvenues
- E-commerce facilities backed with the safety of Verified by VISA
- Mobile Banking.
- Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) facilities at all branches.
- VISA Debit card facility with a card base of over 1.70 million
- On-line rail and air ticket booking using KVB VISA Debit card
- VISA enabled Gift Card
- Access to over 335 KVB ATMs and over 13000 domestic ATMs under the VISA / NFS / MITR /Axis bank cluster and over 1 million VISA ATMs worldwide
- Card to Card and Card to account transfer of funds through KVB ATMs
- Payment of institutional fees through ATMs
- Payment for air tickets (Kingfisher) through KVB ATMs
- Mobile top up facility at KVB ATMs
- 24 X 7 toll free professional help desk services for all ATM, Internet Banking, Mobile Banking and e-commerce transactions
Banking and Para banking services: - KVB offers several deposit and loan products, tailormade to cater to the specific needs of customers
- The bank offers all types of general insurance policies through a tie-up with M/s Bajaj Allianz General Insurance Company
- The bank offers life insurance policies through a tie-up with M/s Birla Sun Life Insurance Company
- The Bank distributes the Mutual Fund products of SBI MF, Reliance MF, Sundaram BNP Parbas MF, Birla Sunlife MF, Franklin Templeton MF and LIC MF
- The Bank is a Depository Participant through NSDL and opens demat accounts
- Off-line and on-line trading facility is available to the demat customers enabled through a tie-up with M/s Religare Securities Ltd and M/s IDBI Caps respectively
Recognitions: - Ranked as the Best Mid-sized Bank by Business Today – KPMG for 2009
- Was rated as the Most Efficient Small Bank by Business Today – KPMG and as the No. 1 old private sector bank by Financial Express - Ernst & Young for two years in succession (2006 & 2007)
- Ranked by The Banker, London among the TOP 100 Banks of the world for the year 2009 (One among 32 Indian Banks featuring in the list). Also one of only 6 Indian Banks featured in the list of top performers under Return on Assets
- Awarded the "Banking Technology Excellence Awards - 2008" for Best use of IT for Customer Service in Semi-Urban and Rural Areas by Institute for Development and Research in Banking Technology, Hyderabad
- Awarded the Gold CIO Award in the more than Rs. 1000 cr. category of the Enterprise Connect Awards '09 instituted by CIOL (Cybermedia India Online Limited)-Dataquest recognizing the "leadership combined with vision and mission in deploying information technology for business benefits through pioneering and innovative use within and outside the organization"
- Received the CFBP Jamnalal Bajaj Award for Fair Business Practices in the Financial Sector Category. The award has been instituted by the Council for Fair Business Practices, Mumbai based on evaluation parameters like customer satisfaction, customer communication, employee motivation, social conscience, corporate social responsibility and compliance with laws
Safe Harbor Statement:
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.
Nothing in this article is, or should be construed as, investment advice.
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