Karur Vysya Bank Share Price Live

History of Karur Vysya Bank Limited 

Incorporated in 1916, Karur Vysya Bank Limited offers financial and insurance services. They offer banking services like accounts, loans, deposits, credit cards, debit cards and more.  

In 1916, Karur Vysya Bank was started in Karur, Tamil Nadu, by the Late M A Venkatarama Chettiar and the Late Athi Krishna Chettiar with an initial capital of ₹1 lakh. In 2003, the bank partnered with UTI Bank (currently known as Axis Bank) and set up ATMs in India. In 2009, Karur Vysya Bank set up a branch in Himayat Nagar in Hyderabad, and the number of branches in India touched 320. 

In 2013, the bank opened its first ultra-small branch at Balarajapuram village in Karur district. In 2017, they inaugurated the Aadhaar enrolment centre. In the next year, Karur Vysya Bank partnered with Aditya Birla Health and started offering insurance services. In 2019, they partnered with Home Credit India, an international consumer finance provider in Asia and Europe, for joint lending.

As of March 2023, Karur Vysya Bank Limited has 822 branches or offices, 2,223 ATMs and cash recyclers and 8,745 Point-of-Sale (POS) terminals across 22 states in India. They have a customer base of more than 78 lakh. Karur Vysya Bank also offers internet banking, mobile banking, missed call banking, WhatsApp banking, etc., services. The mobile banking app, KVB DLite has about 3.4 million downloads. 

Business Segments of Karur Vysya Bank Limited 

The main business segments of the bank are as follows:

• Personal Banking: Under this segment, the bank offers banking services, such as savings accounts, current accounts, insurance, personal loans, home loans, vehicle loans, education loans, debit cards, credit cards, recurring deposits, tax saving deposits, investments, etc. 

• Business Banking: Under this segment, Karur Vysya Bank offers financial services for businesses. They provide products or services such as current accounts, mortgage loans, insurance, commercial loans, transaction banking, Demat account, etc. 

• NRI Banking: This segment is for NRIs, where they can avail banking services, such as NRE accounts, NRO accounts, home loans, mortgage loans, jewel loans, loans against deposits, NRE deposits, NRO deposits, etc. 
• Agriculture: In this segment, Karur Vysya Bank provides banking services, such as loans, etc., for individuals in the agriculture sector.

As of March 31, 2023, there are no subsidiaries of Karur Vysya Bank Limited. 

Key Personalities of Karur Vysya Bank Limited

B Ramesh Babu, Managing Director and Chief Executive Officer

B Ramesh Babu has been the Managing Director and Chief Executive Officer of Karur Vysya Bank Limited since July 2020. Previously, he was the Ex-Deputy Managing Director and Chief Operating Officer at State Bank of India, where he managed the retail business and banking operations for over 21,000 retail branches successfully. 

Corporate Actions of Karur Vysya Bank Limited

• The company announced a bonus share of 1:1 ratio dated October 21, 2002.
• The company announced a bonus share of 2:5 ratio dated September 16, 2010.
• The company announced a bonus share of 1:10 ratio dated August 14, 2018.