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Shareholding Info
  • Foreign institutions-FII
    19.03 %
  • Other domestic institutions
    11.87 %
  • Retail and other
    63.27 %
  • Mutual Funds
    5.83 %

Karnataka Bank


Karnataka Bank is a private-sector lender offering a comprehensive range of customised products and services. It is a leading 'A' Class Scheduled commercial bank with a presence across 22 states and 2 Union Territories through a network of 904 branches. Karnataka Bank was incorporated in 1924 in Mangalore.

Business operations


Karnataka Bank received a licence to carry out banking business from the Reserve of India in 1966. The bank forayed into the foreign exchange business in 1977. In 1989, it opened its merchant banking division.

Karnataka Bank signed a memorandum of understanding with Infosys Technologies Ltd for the implementation of Finacle, a core banking solution. It teamed up with Corporation Bank to share ATMs in 2002. A year later, Karnataka Bank took up a corporate agency for the distribution of products offered by Bajaj Allianz General Insurance Co. Ltd. In 2003, the bank introduced KBL Insta Cash, a personal loan offering, and KBL Vahana Mitra, a car loan product.

The bank teamed up with Western Union Financial Services to offer inbound money transfer services.

In 2005, Karnataka Bank launched a real-time gross settlement (RTGS) system under the name of Money Quick. The bank inked an agreement with National Financial Switch for ATM connectivity. In 2010, the bank launched a new savings bank account for women – KBL Vanitha.

In a major expansion move, Karnataka Bank opened 50 new branches in 2011 in 9 States. Additionally 34 new branches in Karnataka, three in Maharashtra, four in Tamil Nadu and two each in Uttar Pradesh and West Bengal were also set up.

In 2019, the bank tied up with PNB Metlife and LIC for the distribution of life insurance products. It also entered into an agreement with Universal Sompo General Insurance and Bajaj Allianz General Insurance Co Ltd for distribution of general insurance products through its network.

In FY 2021, Karnataka Bank began operations of its wholly owned non-financial subsidiary – KBL Services Ltd.

As of December 30, 2023, Karnataka Bank Limited's market capitalisation stood at over ₹ 8,100 crore. Karnataka Bank share price has surged nearly 300% in the last three years.

Financial highlights

  • The total income of the bank for FY-23 stood at ₹8,212 crore, up 14.45% over ₹7,175 crore in FY22.
  • The bank’s net profit increased to ₹1,180 crore in FY23 as against ₹509 crore in FY22.
  • Karnataka Bank’s net interest income surged to ₹3,185 crore in FY23 compared to ₹2,491 crore in FY22.
  • The bank’s operating profit increased to ₹2,208 crore in FY22 as against ₹1,634 crore in FY22.
  • The earnings per share (EPS) increased to ₹37.87 in FY23 from ₹16.36 in the last financial year.
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