Karnataka Bank Share Price Today Live NSE/BSE

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About Karnataka Bank

Karnataka Bank provides several banking & financial services, including retail, corporate banking and para-banking, treasury and foreign exchange business. It is a leading 'A' Class Scheduled Commercial Bank in India, which was incorporated in February 1924 and commenced operations on May 23, 1924. The bank pressed growth accelerator and opened its 2nd branch in Madras in 1930. After 4 years, it inaugurated its 3rd branch at Car Street-Udupi in 1934. It opened its first branch in Banglore in 1947 at Kempe Gowda Road, and the bank’s total business turnover surpassed ₹1 crore in 1953. The bank continued its business and financial growth, which was indicated by the turnover of ₹10 crore in 1966. It opened its 100th branch at Melpal in December 1971. In 1979, the bank’s deposits crossed ₹100 crore mark. During 1989-90, bank deposits crossed the prestigious mark of ₹500 crore. It inaugurated its first industrial finance branch in Bangalore during 1994-95. During 2001-02, the business turnover crossed ₹10,000 crore and declared the highest dividend of 60%. During 2009-10, it introduced deposit products such as KBL – Tarun, KBL – Kishore, KBL – Salary Privilege, SB – Money Platinum, and CA – Money Platinum. It commenced operations as a Self Certified Syndicate Bank (SCSB) by providing the facility of Application Supported by Blocked Amount in 2012-13. It partnered with Maruti Suzuki to provide retail vehicle finance support to its customers during 2020-21. The bank was authorised by the Reserve Bank of India (RBI) for collection of Direct and Indirect Taxes on behalf of CBDT and CBIC during 2023-24

Business Segments

Retail Banking: Under this segment, the bank offers an extensive range of personal banking products, such as home loans, automobile loans, personal loans, education loans, etc.
Corporate and Wholesale Banking: The bank provides services to meet the specific needs of corporate and wholesale banking business clients, focusing on serving entities with an individual exposure exceeding ₹7.50 crore.
Treasury: The Bank’s treasury operations mainly manage statutory reserves, such as Statutory Liquidity Ratio (SLR) and Cash Reserve Ratio (CRR), while ensuring effective liquidity management.
Other Banking Operations: Under this segment, the bank offers various products and services, including savings accounts, current accounts, wholesale term deposits, international debit cards, locker facilities, and depository services.

As of March 31, 2023, the company had only one wholly-owned subsidiary, KBL Services Ltd, which was acquired by the bank in 2020.