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CSB Bank

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CSB Bank Limited
FormerlyCatholic Syrian Bank Limited
Company typePublic
IndustryBanking
Financial services
Founded26 November 1920; 103 years ago (1920-11-26)
HeadquartersThrissur, Kerala, India
Number of locations
654 branches[1] (2022 -23)
Key people
Pralay Mondal
(MD & CEO)
ProductsConsumer banking, Corporate banking, Mortgage loans, Private banking, Wealth management, Investment banking
RevenueIncrease₹34,500 crore (US$4.1 billion) (2021)[1]
Increase ₹613 crore (US$73 million) (2021)[1]
Increase ₹2,273 crore (US$270 million) (2017)[1]
Total assetsIncrease₹23,337 crore (US$2.8 billion) (2017)[1]
OwnerFairfax Financial
Number of employees
4180 (2022)[1]
Capital ratio22%[1]
Websitewww.csb.co.in

［［CSB］］Bank Limited (erstwhile Catholic Syrian Bank Limited)[2] is an Indian private sector bank with its headquarters at Thrissur, Kerala, India. The bank has a network of over 785 branches and more than 746 ATMs across India.[3][4]

History

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CSB was founded on 26 November 1920,[5] and opened for business on 1 January 1921 with an authorized capital of ₹ 5 lakhs and a paid-up capital of ₹ 45,270.[citation needed]

In 1969, it was included in the Second Schedule of the Reserve Bank of India Act and the Bank became a Scheduled Bank. The bank achieved Scheduled Bank – A Class, status by 1975.

In Dec 2016, RBI allowed Fairfax Financial Holdings to acquire 51% of the bank and in Feb 2018, Fairfax India (via FIH Mauritius Investments Ltd) acquired 51% of the bank for Rs.1180 Crores.[3]

The terms of investment include a mandatory 5-year lock-in period and 15 years to pare the stake in multiple tranches as per RBI's norms.[6]

As of March 2019, the bank had a significant presence in Maharashtra, Tamil Nadu, Kerala and Karnataka with a customer base of nearly 1.3 million people and its credit portfolio focused on agriculture, MSMEs, education, and housing.

The bank went public on Dec 4, 2019 and the shares are listed in BSE and NSE.[7]

Sponsorship

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Kerala based I-League club Gokulam Kerala FC is being sponsored by CSB Bank.[8]

See also

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References

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  1. ^ a b c d e f g "Balance Sheet 31.03.2021".
  2. ^ Zaidi, Waseem (21 January 2022). "I-LEAGUE: Introducing shirt sponsors of every I-league club for 2021–22 season". khelnow.com. Khel Now. Archived from the original on 22 January 2022. Retrieved 26 February 2022.
  3. ^ a b "RBI lets Watsa's Fairfax to buy 51 per cent in Catholic Syrian Bank". The Economic Times. 30 December 2016. Retrieved 15 January 2017.
  4. ^ "Canadian firm gets RBI nod to acquire Catholic Syrian Bank". The New Indian Express. Retrieved 15 January 2017.
  5. ^ Catholic Syrian Bank, Private Sector Banks In India Archived 22 June 2007 at the Wayback Machine
  6. ^ Saha, Manojit (13 August 2019). "Fairfax India gets 15 years to lower stake in CSB Bank to 15%". The Hindu. ISSN 0971-751X. Retrieved 10 January 2022.
  7. ^ "CSB Bank IPO review: CSB Bank IPO opens today; here's what you need to know". The Economic Times. Retrieved 10 January 2022.
  8. ^ "CSB Bank becomes Gokulam Kerala FC's official sponsor". Gokulam Kerala FC. 6 January 2021. Archived from the original on 6 January 2021. Retrieved 31 May 2021.
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