KARUR VYSYA BANK Share price

The Bank was incorporated as a Joint Stock Company in 1916initially to cater to the banking needs of the businesscommunity in and around Karur. The Certificate ofCommencement of business was obtained on 01.07.1916. TheBank has since been carrying on commercial bankingactivities in accordance with the guidelines issued by theReserve Bank of India from time to time. In 1952 the Bankwas included in the Second Schedule to the Reserve Bank ofIndia Act 1934. During the first half of sixties fourbanks with 20 branches viz. Selvavriddhi Bank CoimbatoreBhakyalakshmi Bank Pathinen Gramma Arya Vysya Bank andSree Kannika Parameshwari Bank were merged with the Bank.The Bank has been an Authorised Dealer in Foreign Exchangesince 1980. The Bank has been holding the status ofCategory I Merchant Banker since 1992.The Bank is engaged in banking business. The Deposits atthe end of March 1994 amounted to Rs. 882.73 crores andtops the list of Tamilnadu based private sector Banks. Itsadvances portfolio on the same date stood at Rs. 313.02crores.ORGANISATIONAL ACTIVITIESThe Bank has been engaged in mobilising deposits throughits various schemes and providing working capital and termfinance to various sectors viz. industrial agriculturaltrade and others through its 174 branches spread over inseven states and Union territories of Delhi andPondicherry. Foreign exchange merchant turnover of thebank consisting of exports imports and remittancesamounted to Rs. 194.55 crores in the year 1993-94. TheBank has been maintaining the export credit to net bankcredit ratio well over the stipulated level of 10%. TheBank is actively engaged in the Merchant banking relatedactivities and investment banking. During the year1993-94 the Bank has extended underwriting to 54 Issuesamounting to Rs. 15.71 crore. The Bank has acted Bankersto the Issue in 255 Issues during the year 1993-94. TheBank has been undertaking para-banking activities likeinvestment in shares and debentures PSU bonds CommercialPapers and other instruments. Major thrust is being givenfor computerisation and full computerisation of one branchis in progress and the Bank has already implemented ALPMoperations in selective branches. The Bank has a qualifiedteam of employees comprising of 16 executives 498 officersand 1617 staff.