KVB shifts to 3rd Blk, J'nagar

The Jayanagar branch of Karur Vysya Bank Limited shifted from II th Main to a new fully airconditioned premises with onsite ATM at # 54, 12th Main, 3rd Block, Jayanagar, near Adigas Hotel, on February II. Sri Chenraj Jain, Chairman, Jain Group ofInstitute cut the inaugural ribbon, Sri M. Subramaniam, Elegant Builders and Developers inaugurated the ATM, and Smt Manadi Nagasundaramma, wife of Sri Manandi Nanjunda Shetty lit the ceremonial lamp. R. Sukumar, Chief General Manager, Ramesh Prabhu, Assistant General Manager and M. Palpandian, Chief Manager of the branch graced the event.
The chief guest Sri Chenraj lauded KVB as the number one bank in the private sector that was also known for its transparency, and good track record, attributes that were very significant in the present context of turbulence in the financial sector.
The customers too could partner the bank in its goal of ethical banking by maintaining clean balance sheets, he said. On the recession in the market, he said India was only an indirect victim of it, the principal victim being the US economy. Decrying the ugly urgency of people who wanted to make a 10-years' profit in a couple of years, he said three things described their greedy approach, 'hurry, worry, mari (forget)'.
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:
Total business of the bank was at Rs. 23022.65 cr. with total deposits at Rs. 13286.11 cr. and total advances at Rs. 9736.54 cr. as on 30.09.2008. The net owned funds of the bank are Rs. 1190 cr. (as of31.03.2008). KVB is the first Tamilnadu based private sector bank to cross Rs-] 000 cr. under capital funds
The bank has a Capital Adequacy Raito of] 3.27% as against the RBI stipulated norm of9%.
The bank has one of the lowest net NPA ratios in the country @ 0.52%. The bank has been earning profits since inception and has been declaring dividend uninterruptedly.
The bank has declared ] 00% dividend for the past four years. For 2007-08, the bank has declared a divided of ]20%
Branch and A TM network:
The bank has a branch network of 300 and an A TM network of 30]. The bank plans to improve the branch network to over 320 by the end of the financial year 2008-09.
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. Internet Banking.
Mobile Banking providing inquiry and alert options.
e-commerce facilities for e- ticketing and e-shopping with the safety of Verified by VISA
Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) facilities at all branches. Multicity Account facilities for both current and savings bank customers. Access to over 300 KVB A TMs and over] 3000 domestic ATMs under
the VISA / NFS / MITR /Axis bank cluster and over] million VISA
ATMs worldwide.
VISA Debit card facility with a card base of over 1.30 million Mobile top up facility at KVB ATMs.
Only old generation private sector bank among six banks identified by RBI to implement Speed Clearing at Mumbai.
24 X 7 toll free professional help desk services for all A TM, Internet Banking, Mobile Banking and e-commerce transactions.
Soon to be launched:
 On line utility payment facility through Billdesk.com for effecting payments for electricity, telephone and water tax bills and for insurance and mutual fund payments.
Prepaid Travel Card through a tie-up with MisenStage.com for use in any of the Visa delivery channels such as A TM, POS, eCommerce channels worldwide.
Institutional Fees payment and inter accountlcard funds transfer facility
Banking and Para banking services:
KVB offers several deposit and loan products, tailormade to cater to the needs of all its customers.
The bank offers all types of general insurance policies through a tie-up with Mis Bajaj Allianz General Insurance Company
The bank offers life insurance policies through a tie-up with Mis 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 trading facility is available to the demat customers enabled through a tie-up with Mis Religare Securities Ltd.