NOTE: Mangalore = (Undivided South Canara / Dakshina Kannada)

Wednesday, July 18, 2007

Famous Banks of Mangalore

Here are some of the famous Banks established in Mangalore....

Managing Director and CEO of ICICI Bank is Mr.K. V. Kamath(Kundapur Vaman Kamath ).Kamath was born on December 2, 1947, in Mangalore, Karnataka where he spent most of his early years.

After graduating from IIM-A in 1971, Kamath started his career with ICICI (Industrial Credit and Investment Corporation of India), in the Project Finance division and moved on to different departments to gather experience which included setting up of new businesses such as leasing, venture capital, credit rating as well as handling general management positions. As part of his general management responsibilities he initiated and implemented ICICI's computerisation programme. Substantial investments in technology from the early years have resulted in systems that are today a competitive advantage for ICICI. Kamath has generally been credited with expanding ICICI's businesses to evolve it into a technology-enabled financial organisation catering to the financial needs of corporate and retail customers.

In 1988, Kamath joined the Asian Development Bank, Manila in their Private Sector Department. His principal work experience at ADB was in various projects in China, India, Indonesia, Philippines, Bangladesh and Vietnam. He was the ADB representative on the Boards of several companies.

In May 1996, Kamath returned to ICICI as its Managing Director and Chief Executive Officer. Kamath was instrumental in expanding the Group's services to the retail customers. He initiated a process of a series of acquisitions of non-banking finance companies in 1996-98, and led the way to the formation of ICICI Bank.

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Established in 1906 with the name of Canara Bank Hindu Permanent Fund in Mangalore, India, by Ammembal Subba Rao Pai, is one of the oldest and major commercial banks of India. Its name was changed to Canara Bank Limited in 1910. The bank, along with 13 other major commercial banks of India, was nationalised on 19th July, 1969, by the Government of India.

Vijaya Bank was founded on 23rd October 1931 by the late Shri A.B.Shetty and other enterprising farmers in Mangalore, Karnataka in India.. The objective of the founders was essentially to promote banking habits, thrift and entrepreneurship among the farming community of Dakshina Kannada district in Karnataka State. The bank became a scheduled bank in 1958.
Vijaya Bank steadily grew into a large All India bank, with nine smaller banks merging with it between 1963-68. The credit for this merger as well as growth goes to Shri M.Sunder Ram Shetty, who was then the Chief Executive of the bank. The bank was nationalised on 15 April 1980. The bank has built a network of 913 branches that span all 29 states and three union territories in the country.

Karnataka Bank Limited. a private sector bank in India, was incorporated on February 18th, 1924 at Mangalore, a coastal town of Dakshina Kannada district in Karnataka State. One of the founders of the bank was Vyasa Achar, and the bank took shape in the aftermath of patriotic zeal that engulfed the nation during the freedom movement of 20th Century India

The bank now has a national presence with a network in excess of 400 branches across 18 states and 2 Union Territories all over India. It has over 4,352 employees, 89407 shareholders and 2.6 million customers. The Karnataka Bank has been serving farmers and artisans of rural areas in villages and small towns throughout the country.

Corporation Bank, founded in 1906 in Udupi-Mangalore, Corporation Bank, the oldest banking institution in the erstwhile undivided Dakshina Kannada District of Karnataka and one of the oldest banks in India, was founded in 1906 in the Temple Town of Udupi-Mangalore by a small group of philanthropists led by Khan Bahadur Haji Abdulla Haji Kasim Saheb Bahadur.

The bank was founded with an initial capital of Rs. 5000 (USD 100), and first day’s canvassed resources of less than one USD 1, has more than 11,325 full time employees, and operates from several branches in India.
The Bank is a Public Sector Unit with 57.17% of Share Capital held by the Government of India. The Bank came out with its Initial Public Offer (IPO) in October 1997 and 37.87% of Share Capital is presently held by the Public and Financial Institutions.

The bank has the distinction of the first Indian bank to publish its financial results (1998-99) conforming to US GAAP.

Syndicate Bank, established in 1925 in Udupi -Mangalore(in Karnataka, India) by Upendra Ananth Pai, Vaman Kudva and Dr. T. M. A. Pai, is one of the oldest and major commercial banks of India. At the time of its establishment, the bank was known as Canara Industrial and Banking Syndicate Limited. The bank, along with 13 other major commercial banks of India, was nationalized on 19th July, 1969, by the Government of India.

While Karnataka Bank and Corporation Bank are still head quartered in Mangalore, Vijaya Bank and Canara Bank are head quartered in Bangalore and Syndicate Bank is head quartered in Manipal. Even to date, a large proportion of employees at all levels in these banks are of Mangalorean origin.

1 comment:

Anonymous said...

This is not a perfect list.
There are many small banks and co-operative banks which are big now.
they all started in Manglore and have big capital now.