History
The Karnataka Bank understands that all their customers are entirely diverse in distinctive ways, which is the reason irrespective of the scope of the business or the customer' aspirations; the bank treats everyone as separate and special. This means providing the customers with a variety of choices, not only in relative to their products and facilities but also in the manner in which a customer interacts with the bank.The bank realizes the variations in lifestyle of a customer, identify these variations and support the customer with a great standard of expertise and service. As a leading bank, it has established complete variety of modified products and facilities appropriate for each and every kind of marketplace, trade or alleged requirement either Business or Personal. The services include using facilities, credits, providing best returns on excess funds or helping with abroad transactions.
The bank believes in the whole excellence at all levels. It has organized the utmost current information technology to bring products and facilities for the benefit of the customer with a goal to improve an effective long term relationship. But greatest of all, Technology is harmonized to the expectations of customer of facility, for now and for the future.
Current operations
Karnataka Bank was integrated on the 18th day of February month in the year 1924 and began its business on the 23rd day of May month in the year 1924. Its forefathers established the bank at Mangalore, which is a seaside town in the Dakshina Kannada district of Madras Presidency. Amongst the founders, who shaped the bank to aid the South Kanara area was B. R. Vysaray Achar. An additional significant personality related with the bank was K. S. N. Adiga, who has worked as Chairman from the year 1958 to the year 1979.
Retail banking
In the 1960's Karnataka Bank assimilated three minor banks. In the year 1960 Karnataka Bank attained the Sringeri Sharada Bank, which was started in the year 1942 and it had four branch offices when Karnataka Bank attained it. Four years well ahead, Karnataka Bank acquired over the possessions and obligations of the Chitradurga Bank that was also known as the Chitladurg Bank which was started in the year 1868 in Mysore State and it was the ancient bank in Mysore. Finally, in the year 1966 Karnataka Bank acquired over the possessions and obligations of the Bank of Karnataka, in Hubli.Bank of Karnataka had been started in the year 1946 and has opened just one branch office in Belgaum in the year 1947. At the time of this attainment, Bank of Karnataka had nearly 13 branches.In the year 2000, Karnataka Bank contracted a memo of indulgent with the Infosys Technologies to improve the core banking solution named the FINACLE. Above 221 branch offices were interacted up to the month of March 31st in the year 2004.
Corporate/wholesale banking
The main saying of this program is that "Anytime/Anywhere banking". In the year 2002, the bank resolved a deal with Corporation Bank for letting to share its ATM centers. A year well ahead, the bank presented the Moneyplant card that lets customers to extract money from any of their Karnataka bank accounts. In the month of September in the year 2003, the bank moved its head branch office from Kodialbail to Kankanady.
Through the years, the bank has focused on just one task, one mission that is to give its customer the best in Facilities and in financial Products. Amongst other Banks, it is Karnataka Bank which first realized the significance of having a Central Banking system and was amongst the very first to organize the Core Banking System in the year of 2000. This system allowed the bank to stock and processes all the customer accounts from unique sole place called the Data Centre which is located at Bangalore.To guarantee that its customers have the very best, the bank has organized the State Of Art technology from the very best players in the Financial Industry like Infosys, Wipro and Sun. These schemes deliver the uppermost consistency thus allowing the bank to deliver to the customers the Non Stop facilities of the highest order.
The bank has taken a principal and applied for a Disaster Recovery Centre. This center will reproduce the Banks Centralized Banking system and all its relevant data. This center will also be the entire backup for the ATM center operations. In the occurrence of a natural calamity at Bangalore, this center will instantly come into power and deliver full constant service. Thus, leaving nothing to the chance of failure. At Karnataka Bank, Commerce never stops. It has always confirmed that the customers trade is safe and secure by the Non Stop Banking.