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Karur Vysya Bank Ltd. Company History and Annual Growth Details

YEAR EVENTS
1916 - The Bank was incorporated at Karur, Tamil Nadu State. The Bank
is engaged in Bank Transacts and all kinds of banking business.

1964 - The Bank took over the assets and liabilities of the Pathenen
Gram Vasishya Bank Ltd., Salem, Shri Kannika Parameshwari Bank
Ltd. (4 branches) and Arya Visya Bank Ltd. (14 branches). It was
also decided to take over the assets and liabilities of the
Coimbatore Bhagya Lakshmi Bank Ltd.

1982 - 40,000 right shares issued at par in prop. 1:3.

1984 - 40,000 right shares issued at par in prop. 1:4.

1987 - 2,50,000 No. of equity shares issued at par in prop. 1:2.

1988 - 2,50,000 No. of equity shares issued at par in prop. 1:3.

1990 - 5,00,000 No. of equity shares issued at par as rights in prop.
1:2.

1991 - 5,00,000 No. of equity shares issued at par in rights in prop.
1:3.

1993 - 45,000 Bonus equity shares issued in prop. 1:1.

1994 - 20,00,000 bonus shares issued in prop. 1:1.

2002-Karur Vysya Bank Ltd has informed that the Chairman and Chief Executive Officer of the Bank A D Navaneethan has laid down of office after the close of office hours on May 31, 2002. In terms of the approval of Reserve Bank of India, P T Kuppuswamy has assumed the charge as Chairman and Chief Executive Officer of the Bank on June 01, 2002 and he would hold the office for a period of 3 years.

2003

-KVB ties up with UTI to unveil a shared ATM network across the country.

-Shri G Sarangan gives his resignation as the Director of the Bank.

-Mr. K S Ramabadran and Mr. M K Venkatesan have been appointed as Directors w.e.f. November 26, 2003.

2004

-Shri K P Kumar was appointed as a director of the bank with effect from December 29, 2003 and the said new Director of the bank is holding Nil shares of the bank.

2004

-Karur Vysya Bank Ltd has informed that Shri A K Praburaj and Shri G Venkatesam have resigned as Directors of the Bank with effect from March 08, 2004 and April 01, 2004 respectively

2008

- Karur Vysya Bank Ltd has appointed Shri A.S. Janarthanan as Part-time Non-executive Chairman of the Board of Directors for a period of 2 years.

2009

- Karur Vysya Bank Ltd has appointed Shri. S. Ganapathi Subramanian as an Additional Director of the Bank.

- Karur Vysya Bank has been conferred the Gold CIO award in the more than Rs. 1,000-crore category of the Enterprise Connect Awards 2009 instituted by Cybermedia India Online-Dataquest and the award was received by S. Sekhar, CIO of the bank, at a function organized in Mumbai on August 28.

- Karur Vysya Bank Ltd has set up its branch in Himayat Nagar in Hyderabad. With this, the total number of branches of the bank has reached 320 across the country. The bank would be opening two more branches in Meerut and Dharmapuri soon.

2010

- Karur Vysya Bank (KVB) will be adding five new branches to its existing network of 68 branches in Andhra Pradesh.

- Karur Vysya Bank has announced setting up of its 323 rd branch at Amalapuram, East Godavari district on Feb 19.

- Karur Vysya Bank has joined hands with Reliance Money Express Ltd, an Anil Dhirubhai Ambani Group company. The arrangement is expected to enable not just the customers of KVB but also the general public receive funds from anywhere across the globe through the branches of KVB.

- Karur Vysya Bank Limited has informed that Shri G. Rajasekaran has been co-opted as an Additional Director of the Bank in the Board Meeting held on June 20, 2010. In terms of SEBI (Prohibition of Insider trading) Regulations 1992, Regulation 13(2), regarding Initial Disclosure of holding of shares by Director, the Bank has informed that Shri G. Rajasekaran, Additional Director of the bank is holding 1,26,529 equity shares in the bank.
 
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