Karur Vysya Bank is a private-sector Indian bank, headquartered in Karur in Tamil Nadu. 'The Karur Vysya Bank Limited', popularly known as KVB was set up in 1916 by Mr M.A Venkatarama Chettiar and Mr. Athi Krishna Chettiar, to capitalise on the previously unexploited market of traders and agriculturists in and around Karur, a town in Tamil Nadu. In the year 1952, the Bank became a scheduled bank. In the year 1963, Selvavridhi Bank Ltd was amalgamated with the Bank. Also, in the year 1964, Salem Shri Kannika Parameswari Bank Ltd and Pathinengrama Arya Vysya Bank Ltd, Kombai were amalgamated with the Bank. In the year 1965, Coimbatore Bhagyalakshmi Bank Ltd merged with the Bank. In the year 1980, the Bank got the license to deal in foreign currencies and to transact foreign exchange business. The company operates in four business segments: treasury operations, corporate/ wholesale banking operations, retail banking operations and other banking operations. During 2004-05 the Bank introduced 6 new loan products, namely KVB Special Home Loan, IPO Funding Scheme, KVB Kisan Mithra Scheme, Easy Trade Fin Scheme, KVB Happy Kisan Scheme and Gold Card Scheme for Export Constituents of the Bank. Also, they launched a new product, 'Cash Passport' which is similar to ATM/ Debit card. Bank received Banking Technology Excellence Award instituted by IDRBT for under the category 'Best IT Infrastructure Management' for the year 2009. The Bank has 572 branches and 1617 ATMs covering 18 States and 2 Union Territories and during the year 2013-14. Bank have implemented core banking solutions across all its branches.
The market capitalization of Bank at the end of March 31, 2014 was Rs. 4022.51 crores. During the year ended 31.03.2014, Total Business of the Bank recorded an increase of 14.08% at Rs. 77983.66 crore as compared to Rs.68358.87 crore as on 31.03.2013.
22nd Jan 16 Karur Vysya Bank net profit rises 34% for third quarter ending Dec2015
Karur Vysya Bank reported net profit of Rs. 152.83 Cr for Q3FY16. Its NII rose by 14.60 per cent supported by an increase in other income & operating profit and lower provisions
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