Karur Vysya Bank Deposits Grow by 14.4%

Karur Vysya Bank stated that its bank deposits grew by 14.4% which amounts to Rs 92,349 crore. Scroll down to read the official intimation letter below. 

by Damodharan N

Updated Jul 01, 2024

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Karur Vysya Bank Deposits Grow by 14.4%

Karur Vysya Bank has reported a significant growth in deposits according to their latest financial disclosures.The bank's total business reached Rs 1,70,058 crore, reflecting a significant increase of 15.16% compared to Rs 1,47,671 crore in the previous year.

As of June 30, 2024, the bank's total deposits stood at Rs 92,349 crore, marking a robust increase of 14.41% compared to Rs 80,715 crore recorded on the same date the previous year. Advances also saw substantial growth, rising to Rs 77,709 crore, an increase of 16.06% year-on-year from Rs 66,956 crore.

The bank's Current Account Savings Account (CASA) deposits increased by 5.62%, reaching Rs 28,042 crore compared to Rs 26,549 crore last year.  This growth reflects the bank's strong performance in attracting deposits amidst competitive market conditions.

Read the Intimation letter Here 

Karur Vysya Bank 

Founded in 1916 in Karur, a small textile town in Tamil Nadu, Karur Vysya Bank was established by Sri M.A. Venkatarama Chettiar and Sri Athi Krishna Chettiar with a seed capital of Rs. 1.20 lakh. Since its inception, the bank has grown into a prominent financial institution offering a comprehensive range of financial services to millions of customers.

With a network of 799 branches and 2,240 ATMs and Cash Recyclers as of March 2023, Karur Vysya Bank serves various segments including MSMEs through dedicated Business Banking and Corporate Business Units. The bank also focuses on new and emerging opportunities through its NEO vertical and operates a Precious Metals Division, aiming to enhance processing efficiency and expand service offerings across India.

Karur Vysya Bank Deposits Grow by 14.4% - FAQs

1. When was Karur Vysya Bank founded?

Karur Vysya Bank was founded in 1916.

2. Who founded Karur Vysya Bank?

It was founded by Sri M.A. Venkatarama Chettiar and Sri Athi Krishna Chettiar.

3. What is the total business size of Karur Vysya Bank?

As of the latest report, Karur Vysya Bank's total business size is Rs 1,70,058 crore.

4. How many branches does Karur Vysya Bank have?

Karur Vysya Bank operates 799 branches.

5. How many ATMs and Cash Recyclers does Karur Vysya Bank have?

The bank has a network of 2,240 ATMs and Cash Recyclers.

6. What is the growth rate of deposits in Karur Vysya Bank?

Deposits in Karur Vysya Bank grew by 14.41% year-on-year.

7. How much did CASA deposits increase by?

CASA deposits increased by 5.62%.

8. What segments does Karur Vysya Bank serve?

The bank serves various segments including MSMEs through Business Banking and Corporate Business Units.

9. Does Karur Vysya Bank focus on new opportunities?

Yes, the bank has a vertical called NEO (New & Emerging Opportunities) for this purpose.

10. What special division does Karur Vysya Bank operate?

Karur Vysya Bank operates a Precious Metals Division.

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