Karnataka Bank has announced a strategic corporate tie-up with HDFC Life, one of India’s leading life insurance providers. This partnership is designed to offer a range of life insurance products to Karnataka Bank’s customers, representing a commitment to providing innovative and customer-centric financial solutions. Combining Expertise for Enhanced Customer Benefits The collaboration brings together Karnataka […]
Karnataka Bank has declared a robust half-yearly net profit of Rs 700.96 crore, marking a 33.31% year-on-year increase. This notable rise in profits is up from the previous year’s figure of Rs. 525.81 crore for the same period. The announcement came after a meeting of the Board of Directors in Mangaluru, where the financial outcomes […]
Karnataka Bank has teamed up with Vakrangee Limited (VL) to provide Business Correspondent (BC) Banking services across India via Vakrangee Kendra outlets. Recognized for its contribution to financial inclusion, Vakrangee holds a significant footprint with over 14,000 Banking BC points. Additionally, it is ranked as the 4th largest ATM operator in rural India, boasting over […]
Karnataka Bank has introduced three innovative savings account variants catering to the corporate salaried class: KBL Sal Ultimate, KBL Sal Delite, and KBL Sal Pride. Designed to cater to the unique financial needs and dreams of corporate salaried employees, these novel SB schemes bring a plethora of benefits that can revolutionize how these professionals manage […]
Karnataka Bank has introduced an effortless and convenient way for its customers to pay Goods and Service Tax (GST). Customers can now avail this service through multiple channels, including Over the Counter (OTC) and the bank’s Internet Banking facility. This initiative empowers all Karnataka Bank customers to pay GST with ease, either via Internet Banking […]
Karnataka Bank’s Board of Directors, convening today, green-lighted an impressive capital augmentation of up to ₹ 1,500 crores. This boost will unfold in multiple tranches and could materialize via avenues like preferential issues, rights issues, QIPs, or other valid modes. Crucially, this move rests on receiving regulatory and shareholder approvals. Details of the Mega Capital […]
Karnataka Bank, a private sector bank in India, has announced the appointment of Srikrislman Harihara Sarma as its new Managing Director and CEO. The appointment has taken immediate effect and is set to last for a three-year term, subject to approval by shareholders at the forthcoming Annual General Meeting or within three months from assuming […]
Karnataka Bank Q1 FY23 results : Karnataka Bank has reported a net profit of INR 114.05 crores for the quarter ended 30 June 2022 (Q1 FY23), an increase of 7.69% compared to INR 105.91 crores made in the same quarter of the previous financial year. The net interest income of Karnataka Bank for the reported […]
Karnataka Bank and JCB India, a manufacturer of earthmoving and construction equipment, have signed a memorandum of understanding (MoU) for equipment finance business. According to Karnataka Bank, the proposed tie up is expected to increase the lending avenues under its micro, small and medium enterprises (MSME) portfolio. Under the MoU, JCB will nominate Karnataka Bank […]
Karnataka Bank Ltd, an Indian private banking company, has opened a digi centre at Manngaudda, Mangaluru. The digi centre is said to provide multiple services such as the opening of savings bank accounts, cash withdrawal, issuance of debit cards, cash deposit, and in-principle sanction of retail loans via digital mode/channels in a paperless, safe and […]