ABOUTCommercial banking in
The Karur Vysya Bank Limited popularly known as KVB was such one to be set up in 1916 by two great visionaries and illustrious sons of Karur, the Late Shri M A Venkatarama Chettiar and the Late Shri Athi Krishna Chettiar to inculcate savings habit and to provide financial assistance to traders and small agriculturists in and around Karur, a textile town in Tamil Nadu. Though the Bank had a very humble beginning with Rs.1 lakh Capital, the Bank had borne myriad changes and challenges in the past decades so fruitfully and profitably to emerge as one of the leading banks in
The Bank is professionally managed and guided by the Board of Directors drawn from different fields with vision, experience, knowledge and business acumen.
Though it had inherited a regional flavour to start with, it has now spread its wings far wide with over 285 branches in 13 States and 2
KVB is one of the early banks to adhere to the norm of Capital Adequacy Ratio stipulated by RBI right from its introduction. The Bank has been maintaining a healthy Capital Adequacy Ratio of over 15% as against the mandatory norm of 9% prescribed by the RBI, which will take care of future asset growth.
| THE KARUR VYSYA BANK LIMITED |
| OUR VISION |
| DELIGHT THE CUSTOMERS CONTINUALLY BY BLENDING TRADITION WITH TECHNOLOGY TO DELIVER INNOVATIVE PRODUCTS AND SERVICES AT AFFORDABLE RATES THROUGH A PAN INDIA BRANCH NETWORK |
| OUR MISSION |
|
THE KARUR VYSYA BANK LIMITED
A PROFILE
(As at 31.03.2009)
OUR VISION: DELIGHT THE CUSTOMERS CONTINUALLY BY BLENDING TRADITION WITH TECHNOLOGY TO DELIVER INNOVATIVE PRODUCTS AND SERVICES AT AFFORDABLE RATES THROUGH A PAN
Welcome to Karur Vysya Bank – the bank that carries with it a tradition of 93 years and yet is young enough to adapt itself to the rapidly changing scenario in the banking industry.
Origins:
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 various financial services to millions of its customers under one roof.
Financial landmarks of the bank:
Ø Total business of the bank was at Rs.25664.29 cr. with total deposits at Rs. 15101.39 cr. and total advances at Rs. 10562.90 cr. as on 31.03.2009. KVB is the first Tamilnadu based private sector bank to cross the milestone figure of Rs. 25000 cr. total business.
Ø The net owned funds of the bank are Rs. 1350.16 cr. KVB has strong capitalization levels, with high proportion of Tier I capital at 96.53% which implies the strength of owned funds. Entire Tier II capital forms a meager part (3.47%), which consists of provision for standard assets only.
Ø The bank has a Capital Adequacy Raito of 14.92% as against the RBI stipulated norm of 9%.
Ø The bank has one of the lowest net NPA ratios in the country @ 0.25%.
Ø The bank has been earning profits since inception and has been declaring dividend uninterruptedly.
Ø The bank has declared 100% dividend since 2003-04. For 2005-06, 2007-08 and 2008-09, the dividend was 120%.
(Rs. In crores)
| Particulars | 2006- 07 | 2007- 08 | 2008 - 09 |
| Deposits | 9340.29 | 12549.99 | 15101.39 |
| Advances | 7040.48 | 9528.84 | 10562.90 |
| Net Profit | 160.01 | 208.33 | 235.84 |
| Capital Funds | 1063.16 | 1190.00 | 1350.16 |
| Capital Adequacy | 14.51% | 12.58% | 14.92% |
| Net NPA | 0.23% | 0.18% | 0.25% |
Branch and ATM network:
The bank has a branch network of 312 and an ATM network of 322. The bank plans to improve the branch network to over 350 by the end of the financial year 2009 -10.
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:
Ø Any Branch Banking.
Ø Multicity Account facilities for both current and savings bank customers.
Ø Internet Banking.
Ø On line utility bill payments facility through Billdesk
Ø On line shopping facility through CCAvenues
Ø e-commerce facilities backed with the safety of Verified by VISA
Ø Mobile Banking.
Ø Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) facilities at all branches.
Ø VISA Debit card facility with a card base of over 1.50 million
Ø Access to over 320 KVB ATMs and over 13000 domestic ATMs under the VISA / NFS / MITR /Axis bank cluster and over 1 million VISA ATMs worldwide.
Ø Card to Card and Card to account transfer of funds through KVB ATMs
Ø Payment of institutional fees through ATMs
Ø Payment for air tickets (Kingfisher) through KVB ATMs
Ø Mobile top up facility at KVB ATMs.
Ø Only old generation private sector bank among six banks identified by RBI to implement the Cheque Truncation project at
Ø Only old generation private sector bank among six banks identified by RBI to implement Speed Clearing at Mumbai.
Ø 24 X 7 toll free professional help desk services for all ATM, Internet Banking, Mobile Banking and e-commerce transactions.
Banking and
Ø KVB offers several deposit and loan products, tailormade to cater to the needs of all its customers.
Ø The bank offers all types of general insurance policies through a tie-up with M/s Bajaj Allianz General Insurance Company
Ø The bank offers life insurance policies through a tie-up with M/s Birla Sun Life Insurance Company.
Ø 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.
Ø The Bank is a Depository Participant through NSDL and opens demat accounts
Ø 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:
- 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.
- 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).
- Rated by Business World and Business Today as the No. 2 Old Private Sector Bank in 2008.
- 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.
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
For more information about the bank, its products and also to record your feedback, please log on to www.kvb.co.in
Some of our customer friendly products
Our Deposit Products: Some of our value added deposit schemes that offer the best interest rates in the industry and transaction comfort to the customers are:
v Multicity Current Account, with in built flexibility such that customers can avail of a host of services at concessional rates based on the Monthly Average Balance maintained by them.
v KVB Freedom Savings Bank Account offers payable at par cheques facility to our SB customers, besides other facilities like, Net Banking, Mobile Banking, funds transfer, issue of demand drafts, either free or at concessional rates/ nominal rates, besides VISA Debit card.
v KVB Yuvashakti Savings Bank Account is meant for young persons in the age group of 20 – 35 years and offers several free services besides temporary overdraft facility (subject to conditions)
v Rainbow Savings Bank Account (RBSB), combines the convenience of a Savings bank account with the returns of a term deposit account through auto sweep-in/sweep-out facilities.
v Tirumagal Tirumana Thittam (TTT), a reinvestment deposit plan, enables planning for the educational/marriage expenses of the children.
v Manimala, a Monthly Deposit plan provides the convenience of small investment and high returns, by depositing a pre-determined amount every month for a fixed period.
Our Loan Products: Some of our products that offer tailor-made solutions for the loan requirements of our customers are:
ü KVB Vartagamitra to meet the working capital requirements of traders
ü KVB Fleximobile for purchase of a four-wheeler to provide mobility
ü KVB Rentfin that provides finance against future rent receivables
ü KVB Doctors’ Loan that provides finance to doctors to set-up/improve their practice
ü KVB Professional Loan that provides term finance for all categories of professionals
ü KVB Good Health that helps meet sudden hospitalization expenditure
ü KVB Bon Voyage that finances expenditure incurred for business, official or personal visits abroad
ü KVB Happy Home that provides finance for purchase of the dream house
Besides, there are several schemes for the specific requirements of farmers like, KVB Green Card, KVB Green Trac, KVB Harvester and KVB Kisan Mitra. Also, timely and adequate finance is provided to industries, SMEs and traders.
KVB’s Q1 Net Profit surged up by 130.35%
Karur Vysya Bank Limited has announced the financial results for the first quarter of 2009-10 following the approval of the Board of Directors in their meeting held at Karur on 28.07.2009.
The net profit swelled to Rs.70.35 crore as against Rs.30.54 crore for the corresponding quarter of the previous fiscal, registering a growth of 130.35%.
The Operating Profit for Q1 of the current fiscal rose to Rs.99.17 crore from Rs.79.95 crore, posting a growth of 24.04%. Total income went up to Rs.487.37 crore from Rs.376.40 crore, registering a rise of 29.48%. Total interest income went up to Rs.406.90 crore from Rs.335.18 crore, a growth of 21.40%. Interest on advances recorded a growth of 25.54% to Rs.318.78 crore from Rs.253.93 crore. Other income recorded a growth of 95.22% to Rs.80.47 crore from Rs.41.22 crore.
The net profit has been arrived at after providing for non-performing assets, standard assets, restructured advances and depreciation on investments as per RBI guidelines and wage revision, other usual and necessary provisions.
Net NPA as a percentage of Net advances stood down at 0.24% because of the unrelenting recovery drive of the Bank to bring down the NPA levels and toning up of post sanction follow-up. Floating provision has been ignored for the calculation of NPA as per RBI guidelines.
The total deposits of the bank as on 30.06.2009 stood at Rs.15252.62 crore as against Rs.13145.18 crore, a year ago recording a growth of 16.03%. The total advances of the Bank stood at Rs.11072.58 crore, registering a growth of 11.99% over Rs.9887.05 crore a year ago. The CD Ratio of the Bank stood at 72.59%.
The capital adequacy ratio of the bank is comfortable at 15.88%.
KARUR VYSYA BANK CAREER KARUR VYSYA BANK
No comments:
Post a Comment