India’s Leading BFSI and FinTech Companies 2023

India’s Leading BFSI and FinTech Companies 2023 | 37 [ EXPERT’S VIEW ] HOWWOULD YOU DESCRIBE THE JOURNEY OF YOUR COMPANY SINCE ITS INCEPTION? WHAT ARE SOME OF THE KEY MILESTONES OF THE COMPANY IN RECENT YEARS? Karnataka Bank was started on 18th February 1924 with an initial share capital of ` 11,580/- with a single branch at Dongerkery in Mangalore of South Canara Region, Karnataka. Being a bank that took shape with a social goal in the aftermath of the patriotic zeal engulfed the nation during the freedom movement, it has a space in the history anddevelopment of our country. During the 99 years of long journey, Karnataka Bank was an eye witness to various historical events l ike I I World War, Indian Freedom Movement, Bangladesh Liberation War, Kargil War, Bank National isation, Great recession, LPG (Liberal isation, Privatisation & Gl oba l i sa t i on ) , Na r as imham Committee Reforms, Computerisation of banks, Demonetisation, Covid-19 Pandemic and many more such events with far reaching impacts. Despite all these challenges, the Bank stood strong, thanks to the rock-solid continuous support by its stakeholders and achieved growth continuously and consistently. Bank earned profit during the very first year of its inception itself and remained profitable all through these 99 years. Bank has also an impressive track record of dividend payment. Karnataka Bank today stands The Karnataka Bank Limited Mahabaleshwara M S Managing Director & CEO strong with total Business Turnover of ` 1,48,000 crore with all-time high Net Profit of ` 826.49 crore for the nine months ended 31st December 2022. The Bank is proud to servemore than 13 million satisfied customers, with its pan India presence. The Bank has 892 branches in 22 States and 2 Union Territories. Karnataka Bank has stepped into its 100th year of service to the nation and this is a historical moment in the annals of the Bank. Powered by our wholistic transformation journey ‘KBL-VIKAAS’, I am happy to share with you all that, KBL is all set to emerge as Strong, Vibrant, Enthusiastic Digital Bank. HOW DOES KARNATAKA BANK SUPPORT GOVERNANCE, COMPLIANCE AND BUSINESS RESILIENCE OF THE BFSI & FINTECH SECTOR IN INDIA? The Bank applies best management practices that provide stability, growth, transparency, disclosures and value creation, thus maintaining highest standards of Corporate Governance. Bank under wave 2.0 of ‘KBL VIKAAS’, has placed digital banking on fast forward mode and ‘KBL NxT’ concept was launched in the year 2021, with an objective to eventually emerge as the ‘Digital Bank of Future’. Bank has implemented latest technology for enabling digitization under various verticals viz. Customer Experience, Operat ions , Human Resources , Technology, Cyber Security, Digital Marketing, Partnerships etc, by having a ‘co-operation and collaboration’ approach with Fintechs. WHAT ESG INITIATIVE HAS YOUR COMPANY TAKEN IN THE LAST 3 YEARS TO ACCELERATE ITS GROWTH? WHAT IS YOUR COMPANY’S GROWTH STRATEGY FOR THE NEXT 3-5 YEARS? Bank has a well-articulated Board approved ESG policy. Accordingly, we lend/invest inkey sectors suchasMSME and Agriculture, Infrastructure, Power, manufacturing, etc., demonstrating our resolve to provide responsible and sustainable finance. Bank will continue to prioritize lending to businesses with robust environmental and social management systems that enable early identification of risks and impacts and their effective mitigation. To combat climate change and transitioning to low carbon economy, we strive hard to reduce our carbon footprint by adopting initiatives to monitor and reduce our energy consumption in tune with the GOI initiatives. Dun & Bradstreet