Karur Vysya Bank (KVB), one of India's oldest banking institutions, marked its 109th Founder's Day with a grand celebration in Karur, emphasizing its commitment to digital security and community well-being. The event, graced by Reserve Bank of India Deputy Governor Shri Swaminathan J as the Chief Guest, brought together customers, board members, founding family representatives, and employees.

Cybersecurity Initiative Launch

A highlight of the celebration was the remote launch of KVB's Cybersecurity Awareness Initiative in Trichy by Shri Swaminathan J. This comprehensive program aims to promote digital safety and responsible financial practices among the public. The initiative will reach diverse sections of society through:

• Mass media campaigns
• Offline and branch activations
• Specially curated workshops across schools, colleges, workplaces, residential communities, and senior citizen forums

The bank's efforts target all age groups, from students and working professionals to homemakers and retirees, underlining its commitment to fostering a secure digital environment for its customers and the wider community.

Legacy and Future Vision

Speaking at the event, Shri Ramesh Babu, Managing Director & CEO of Karur Vysya Bank, reflected on the bank's journey: "KVB was founded with a simple yet profound purpose; to serve with integrity, prudence, and care. As we celebrate 109 glorious years of this legacy, we step into our 110th year with pride and renewed purpose."

Shri Swaminathan J, in his address, emphasized the importance of vision and determination in building lasting institutions. He stated, "Founders' Day is not just a ceremonial gathering to mark the passage of time. It is a celebration of vision, resolve, and quiet determination—a tribute to those who chose to build a lasting institution in the face of uncertainty."

Brand Film Unveiling

The celebration featured the unveiling of a specially curated brand film, capturing KVB's remarkable 109-year journey. The film traced the bank's evolution from its humble beginnings to its current status as a modern, tech-driven financial institution with a strong national presence.

Looking Ahead

As Karur Vysya Bank enters its 110th year, it reaffirms its commitment to growing responsibly while upholding the values of integrity and trust that have defined its operations since inception. The launch of the Cybersecurity Awareness Initiative demonstrates the bank's proactive approach to addressing modern banking challenges and its dedication to customer security in the digital age.

The 109th Founder's Day celebration not only honored KVB's rich history but also showcased its vision for a secure digital future in banking, blending traditional values with modern responsibilities.

Karur Vysya Bank (KVB) has reported a robust performance for the first quarter, with a 14% year-on-year increase in net profit. The bank's board has also approved a bonus share issue, signaling confidence in its financial position and future prospects.

Strong Financial Performance

KVB reported a net profit of ₹521.00 crore for the quarter, up from ₹459.00 crore in the corresponding quarter of the previous year. This represents a healthy growth of 14% year-on-year and a 2% increase quarter-on-quarter.

The bank's total business grew by 15.27% year-on-year to reach ₹1,96,024.00 crore. Deposits saw a significant rise of 15.49% year-on-year, touching ₹1,06,650.00 crore, while advances increased by 15.01% to ₹89,374.00 crore.

Key Financial Metrics

Asset Quality Improvement

KVB has shown significant improvement in its asset quality:

Bonus Share Issue

In a move that will reward its shareholders, KVB's Board of Directors has approved the issuance of bonus shares in the ratio of 1:5. This means shareholders will receive one new equity share for every five shares held. The bonus issue is subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Other Key Decisions

1. AGM Date: The 106th Annual General Meeting is scheduled for August 21, to be held via video conferencing.

2. Increase in Authorized Share Capital: The Board has approved increasing the authorized share capital from ₹200.00 crore to ₹250.00 crore, subject to shareholder approval.

3. New Employee Stock Option Scheme: A new scheme, KVB-ESOS-2025, covering 3 crore equity shares has been approved.

4. Dividend: The record date for the proposed dividend is set as August 7, with payment scheduled on or after August 22, subject to shareholder approval.

5. Appointment of Secretarial Auditors: M/s. S.A.E. & Associates LLP has been appointed as Secretarial Auditors for the next five financial years at an annual fee of ₹2.25 lakh.

Segment-wise Performance

The bank's retail banking segment, including digital banking, continued to be the largest contributor to revenue and profits. The corporate/wholesale banking segment also showed strong performance.

KVB's focus on digital banking is evident, with 92% of transactions now being served digitally. The bank reported a 25% year-on-year growth in digital transactions.

With these results and strategic decisions, Karur Vysya Bank appears well-positioned for sustained growth in the coming quarters, while rewarding its shareholders through the bonus share issuance.