CSB Bank Ltd. Company History and Annual Growth Details

The Bank was incorporated on November 26, 1920 under the Indian Companies Act, 1913 as ‘The Catholic Syrian Bank Limited’. A fresh certificate of incorporation under the Companies Act, 1956 was issued by the RoC on April 14, 1987. The Shareholders of our Bank approved the change of name of our Bank from ‘The Catholic Syrian Bank Limited’ to ‘CSB Bank Limited’ through a postal ballot resolution dated May 4, 2019, and RBI, through its letter bearing reference number DBR.PSBD.No.8231/16.01.060/2018-19 dated April 1, 2019, conveyed its ‘no objection’ in terms of Section 49B of the Banking Regulation Act to change of name of our Bank from ‘The Catholic Syrian Bank Limited’ to ‘CSB Bank Limited’. Subsequently, a fresh certificate of incorporation under the Companies Act, 2013 was issued by the RoC on June 10, 2019 and a fresh license bearing no. MUM-147 dated June 28, 2019 was issued by the RBI under our new name to carry on the banking business in India, in lieu of our previous license dated June 19, 1969, consequent to the change of name of our Bank. The name of our Bank was changed to ‘CSB Bank Limited’ from “The Catholic Syrian Bank Limited” in the second schedule of the RBI Act, with effect from June 10, 2019.

 

Major events and milestones
1920
Incorporation of our Bank.

1945
The Bank celebrated its silver jubilee.

1964-65
The Bank took over the assets and liabilities of six small and medium sized banks located in Kerala.

1969
The Bank was included in the second schedule to the RBI Act.

1970
Our Bank celebrated its golden jubilee.

1972
Opened our first branch in the state of Maharashtra in Mumbai.

1973
Opened our first branch in the state of Karnataka in Bengaluru.

1975
Received license to deal in foreign exchange and mechanized reconciliation of inter-branch transactions.

1978
Set up a staff training college.

1980
The Bank celebrated its diamond jubilee.

1995
The Bank celebrated its platinum jubilee.

2003
Changed the logo and colour scheme to create a new image of our Bank.

2004
Total business (advances plus deposits) crossed ? 50,000 million.

2007
An aggregate investment of Rs 332.97 million was made by AIF Capital Development Limited, GPE III Mauritius Direct Investment Limited and Siguler Gruff BRIC Mauritius in our Bank.

2009
Total business (advances plus deposits) crossed Rs 100,000 million.

2013
Total business (advances plus deposits) crossed Rs 200,000 million.
Entered into an agreement with Edelweiss Tokio Life Insurance Company Limited to distribute life insurance products.

2015
Obtained approval of the FIPB for increasing the FDI limit in our Bank to 74% of the paid up share capital of our Bank.
Public launch of mobile banking.

2016
Entered into an agreement with HDFC Standard Life Insurance Company Limited to distribute life insurance products.
Entered into an agreement with Reliance General Insurance Company Limited to distribute insurance products.
Entered into an agreement with ICICI Prudential Life Insurance Company Limited to distribute life insurance products.
Entered into an agreement with ICICI Lombard General Insurance Company Limited to distribute general insurance products.

2018
RBI accorded its approval to FIHM to acquire 51% of the post issue paid up share capital of our Bank.

2019
Established our Bank’s two wheeler loan business.
The Bank changed its name, logo and color scheme.