YEAR EVENTS 1924 - The Bank was incorporated on the 18th day of February at Mangalore. The Bank was promoted in 1924 by Late Shri B. R. Vyasarayachar and other leading members of the South Kanara Region. The Company is engaged in banking business. 1952 - 25,000 No. of equity shares issued at par. 1958 - The Bank was included in the second schedule with effect from 11th January and upgraded from `D' class to `C' class. 1963 - Rs 5 per share was called-up on the 25,000 shares issued in 1952. 1964 - The Bank took over the assets and liabilities of the Chitaldurg Bank Ltd. - 50,000 No. of equity shares issued at par. 1966 - The Bank took over the assets and liabilities of the Bank of Karnataka Ltd., Hubli and consequently opened 14 new branches in places where the Bank of Karnataka Ltd., was formerly functioning. 1970 - Rs 5 per shares called-up during the year making the shares fully called-up. 1978 - Arrears Rs 13,805/-. 1981 - Arrears Rs 3,075/-. 1982 - Arrears Rs 2,900/-. 1983 - Arrears Rs 775/-. 1984 - Arrears Rs 500/-. 1985 - 1,50,000 rights shares issued at par. 1989 - The Company opened a merchant banking division during the year. - 2,50,000 rights shares issued at par. 1990 - Shares sub-divided and 30,000 shares issued at par. 1996 - Authorised capital increased. Difference shares issued through a Rights and Public issue. 2000 - Karnataka Bank, a Mangalore-based private sector bank, has initiated a strategic technology tie-up with the Infosys Technology Limited. - Karnataka Bank, which has entered into a`strategic technological tie-up' with Infosys Technologies Ltd to implement a `Centralised core banking solution' called `Finacle', hopes to be able to provide all the facilities linked with this by the end of the current year. 2002 -Launches multi-branch banking system in 5 cities, allowing customers to bank anywhere within the network. -Launches a relief package after a continous downslide in the prices of different agricultural commodities. -Donates 3 computers to Kannada Sahitya Parishad's President Mr Harikrishna punaroor. -Slashes down the interest rate by 1 to 3 percent on all schematic loans and advances. -Mr A Krishna Kumar Kodgi ceases to be the Director on the Board of the Bank. -Board approves for the issue of bonus shares in the ratio of 1 equity share for every 1 share held on a record date to be fixed later and to offer 1 equity share of Rs.10 each at the price of Rs.25 per share including the share premium. -Ties up with Metlife India for the distribution of insurance products as a corporate agent. -Conducts a 2 day seminar for the bank's inspecting officials. -Allots bonus shares in the ratio of 1:1, 13462372 shares of Rs.10 each have been alloted keeping in abeyance the bonus entitlements of 23850 shares. -Revises the term deposit rates - 5% on domestic term deposits for a period of 7-14 days (deposits of Rs 15 lakh), 5% for 15 to 45 days, 6% for 46 to 90 days, 6.5% for 91 to 179 days, 7% for 180 days to less than one year, 7.5% for one to three years and 7.25% for deposits above three years. 2003 -Reduces its Prime Lending Rates by 0.50 percent, and now the PLR will be 12%. -Offers rights issue of shares in the ratio of one share for every two shares of post-bonus share capital at a premium of Rs. 15 pershare at Rs.10 face value. -Pubic Relations Society of India confers 'The PR person of the year 2002' award on the Chairman and CEO of the Bank, Mr. AnanthaKrishna. -Introduces a new ' resident foreign currency account' in the wake of RBI's permission to maintain foreign currency accounts. -Mr Ananthakrishna's term as the Chairman of the bank is extended for a period of 3 years. -Passes resolution on the declaration of dividend of 22% on the entire paid up capital , and appointment of Mr Bheema Bhat as the Director of the bank. -Announces 1% interest rebate for prompt repayment of loans taken by farmers with a view of increasing its farm credit portfolio. -Revises the interest rate for domestic term deposits. it would pay 4.5% on domestic term deposit for 7 - 14 days (deposits of 15 lakh & above), 4.5% for 15 - 45 days, 5% for 46 - 90 days 5.5% for 91 - 179 days, 6% for 180 - -Change in its Registered Office to PB No. 599, Mahaveera Circle, Kankanady, Mangalore - 575002. PH No:0824-2228222 Fax: 0824- 2225588 Email : info@ktkbank.com. -Ties up with Melife India and launches K-Life a term product designed for SB/current account holders of the bank. -Launches a credit product 'KBL Insta Cash' for consumption purposes, and 'KBL Vahana Mitra' for the purchase of new vehicles. -Bank along with Western Union Financial Services ties up with Bharat Overseas Bank to provide inbound money transfer services. -Allotted 6950 bonus shares as fully paid up equity shares of Rs. 10 each on release of bonus entitlement kept in abeyence in the Bonus Issue 2002. -The Delhi region of the Karnataka Bank has bagged the golden trophy for Best Region and Ludhiana branch bagged the silver trophy for Best Branch, instituted by the Karnataka Bank Employees' Association. The relationship between the management and the union should be based on mutual trust and a sense of responsibility. -Karnataka Bank enters into MOU with Bajaj Allianz 2004 -Karnataka Bank deploys finacle solution in Mangalore branch -The Karnataka Bank Limited has informed that Shri. K. N. Ramasubramanian ceased to be the Director on the Board of the Bank w.e.f. January 19, 2004 on completion of term of 8 years in accordance with Section 10-A of the Banking Regulation Act, 1949. - Bank forms ad-hoc committee for undertaking procedures and performance audit on public services rendered to its customers. The committee comprises the Deputy General Managers, Mr K. Venkataramana Tunga, Mr N. Upendra Prabhu, Mr K.H. Shivaswamy Aithal, and Mr P. Jairama Hande. Mr M.S. Mahabaleshwar Bhat, Assistant General Manager, is the convenor and nodal officer to serve as contact point with the RBI committee. -Karnataka Bank Limited launched 'Gold Card Scheme' for exporters -Delist from the Bangalore Stock Exchange Ltd with effect from November 24, 2004. -Karnataka Bank ties up with India Switch Company -Karnataka Bank's sets up 16th branch in Mumbai 2005 -Karnataka Bank opens branch in Delhi -Karnataka Bank launches Money Quick under real time gross settlement (RTGS) system -Karnataka Bank sets up 46th ATM at Udupi -Karnataka Bank inks agreement with National Financial Switch for ATM connectivity -Karnataka Bank sets up new ATM at Davangere -Karnataka Bank launches `no frills' accounts -Karnataka Bank Issues Rights in the Ratio of 2:1 2006 -Karnataka Bank launched CDSL-DP services at select branches. -Karnataka Bank sets up 396th branch at Vazira Naka -Karnataka Bank Ltd has entered into an agreement with the Indian Railway Catering and Tourism Corporation Ltd. 2007 -Karnataka Bank Ltd has informed that the Board of Directors of the Bank at its meeting held on January 05, 2007 has appointed Shri. T S Vishwanath, Senior Partner, Vishwanath Singh & Associates, Chartered Accountants, New Delhi as Additional Director of the Bank u/s 260 of the Companies Act, 1956. -Karnataka Bank Ltd has appointed Shri. M Sitarama Murty (Retired Managing Director of State Bank of Mysore), Secunderabad as an additional Director of the Bank with effect from November 30, 2007. 2009 - Karnataka Bank has joined hands with HMT Ltd for financing purchase of tractors and the finance will be extended under bank's 'KBL - HMT Sarathi' scheme. - Karnataka Bank Ltd has informed BSE that the members at the 85th Annual General Meeting (AGM) of the Bank held on August 08, 2009, have resolved to appoint M/s. Kamath & Rau, Chartered Accounts, Mangalore and M/s. Vishnu Daya & Co, Chartered Accountants, Bangalore jointly as Statutory Central Auditors of the Bank to hold office from the conclusion of 85th Annual General Meeting until the conclusion of the next Annual General Meeting. - Karnataka Bank Ltd has signed a pact with JCB India Ltd for financing purchase of earth-moving equipment such as backhoe loaders, wheel loaders, excavators, compactors, cranes and skid steers. 2010 - During the Global Investors' Meet in Bangalore, Karnataka Bank Ltd signed the pact with the Government of Karnataka. - Karnataka Bank Ltd has received a special award for use of 'IT (information technology) for internal effectiveness' for 2009. 2011 -"Karnataka Bank offers Online Trading Services in alliance with Way2Wealth Brokers Pvt. Ltd". -Karnataka Bank Ltd Issues Rights in the Ratio of 2:5 2012 -Shri P. Jayarama Bhat has been re-appointed as the Managing Director & CEO of the Bank. -"Karnataka BANK'S Memorandum of Understanding with NABARD for NABCONS". -Karnataka Bank receives National Award for being the best banker among middle-sized banks in customer friendliness. -Karnataka Bank receives I.B.A. Banking Technology Awards 2011. -" Karnataka Bank Bags Two I.B.A. Awards". -"Karnataka Bank launches Current & Savings Accounts campaign". -"Karnataka Bank introduces revised Kisan Credit Card scheme for farmers". -Karnata.Bank - "Operational Excellence Award" to Karnataka Bank in A T M Service. -Karnataka Bank launches public awareness program. -"Karnataka Bank opened First Ultra Small Branch at Byadanur Village of Tumkur District". 2013 -Social Banking Excellence Award. -"Karnataka Bank to Open 26 Ultra Small Branches (USBs). -"Agri Meet" by Karnataka Bank". -"Extend Service and Expand Business". -"Karnataka Bank raises Deposit Interest Rates". -"Karnataka Bank ties up with TimesofMoney for online money transfers into India". -"Karnataka Bank gets ISO 27001:2005 certification for its IT setup " -"Karnataka Bank Launches Special Campaign for Home and Car Loans". 2014 -"Karnataka Bank Launches Online Loan Application for MSME Customers". -"Empower all Households with Banking Facilities". -"Focus on Quality Growth". -"Karnataka Bank to open another 22 branches this fiscal". - "Karnataka Bank opens its 600th branch at Dispur in Assam". -"Karnataka Bank Launches "i-Hundi" Facility thru IVR" - "Training on Information Security Management Systems (ISMS)". 2015 - Karnataka Bank signed MoU with INTECH - Karnataka Bank joins hands with New India Assurance Co Ltd for launching Pradhan Mantri Suraksha Bima Yojna - Karnataka Bank inks MoU with New India Assurance co Ltd. - Karnataka Bank Awarded with ISO 27001:2013 Certificate - Karnataka Bank inks MoU with EICML - "Karnataka Bank Launches Online Loan Application Submission & Credit Proposal Tracking System for MSME Customers - Karnataka Bank launches MUDRA card under Pradhan Mantri Mudra Yojana (PMMY) 2016 -"Karnataka Bank Bags MSME Banking Excellence Awards 2015". -"Karnataka Bank Bags Four Assocham Social Banking Excellence Awards". -"Karnataka Bank introduced one more new technology based facility "Online Account Opening"". -Karnataka Bank bags IBA Banking Technology Award. -"Karnataka Bank Launches 'Cash Back Campaign' on VISA Debit Cards". -Karnataka Bank launches anti-tobacco campaign as part of CSR. - "Karnataka Bank bags CFBP Jamnalal Bajaj Awards 2015". -"Karnataka Bank bags IDRBT Banking Technology Award". -"Karnataka Bank launches 'KBL POS MANAGER' Android Mobile App for its POS (EDC) Merchants". 2017 -Karnataka Bank bags SMEs Excellence Award 2017. -Karnataka Bank inaugurates new branch in Karnataka. -Karnataka Bank bags award at IDRBT Excellence Awards. -Karnataka Bank bags IDRBT Banking Technology Excellence Awards 2016-17. -Karnataka Bank ties-up with HDFC Asset Mgmt for MF biz. -Karnataka Bank enters into MoU with LIC. -Karnataka Bank bags STP Award 2016. -Karnataka Bank launches new card product. -Karnataka Bank bags four Social Banking Excellence Awards from ASSOCHAM under Small Bank category. -Karnataka Bank Bags IBA - Banking Technology Awards 2017. 2018 -"Karnataka Bank bags ASSOCHAM SMEs Excellence Award -2018." -Karnataka Bank enters into agreement with Bank Bazaar for Digital Home Loan Sourcing. -"Karnataka Bank bags MSME Banking Excellence Award." -"Karnataka Bank bags ET NOW BFSI (Banking Financial Services & Insurance) Awards, 2018". -"Karnataka Bank bags IBA Banking Technology Awards 2018". -Bank bags 'Best Financial Services & Foreign Exchange Earner in Southern Region' award from FIEO. 2019 -Karnataka Bank secures ET Business Excellence Award 2019 for excellence in banking service. -Karnataka Bank wins ET BUSINESS EXCELLENCE AWARD 2019. 2020 -The Company has issued Bonus Shares in the Ratio of 1:10. -Karnataka Bank Launches KBL Micro Mitra, An Exclusive Product For Micro Entrepreneurs. 2021 -Karnataka Bank receives two DigiDhan awards. -Karnataka Bank signs MoU with Toyota Kirloskar Motor to extend vehicle finance support. -Karnataka Bank awarded at the 19th edition of Asia Pacific HRM Congress. 2022 -Karnataka Bank wins Indian Banks' Association (IBA) Technology Award. -Karnataka Bank adds a new slab to its deposit products. -Karnataka Bank partners with JCB India for equipment financing biz. -Karnataka Bank partners with SELCO Solar Light Private Limited for financing solar based livelihood products to its customers. 2023 -Karnataka Bank ties up with Bajaj Allianz Life Insurance Company Limited to distribute Life Insurance products. -The Karnataka Bank Limited inks pact with HDFC Life Insurance Company Limited to distribute Life Insurance Products. -Karnataka Bank wins 'Prathista Puraskar - Digidhan Award. 2024 -Karnataka Bank's 932nd branch inaugurated at Bikaner, Rajasthan on 04.04.2024 by Shri Dwarka Prasad Pachisia, President. -Karnataka Bank posted an all-time high Net Profit for 9MFY 2023-24 of Rs. 1,032.04 crores, as against Rs 826.49 crores earned during the corresponding period previous year. - Karnataka Bank has partnered with fintech company Digivriddhi (DGV) to offer host of financial services catering to the needs of dairy farmers & Milk Societies. -Karnataka Bank inks pact with ICICI Lombard General Insurance Company Limited to distribute their General Insurance products.