CSB Bank
Indian bank
CSB Bank Limited (erstwhile Catholic Syrian Bank Limited) is an Indian private sector bank with its headquarters at Thrissur city, Kerala, India. The bank has a network of over 862 branches and 832 ATMs across India.
01History
CSB was founded on 26 November 1920, and opened for business on 1 January 1921 with an authorized capital of ₹ 5 lakhs and a paid-up capital of ₹ 45,270.
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.
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.
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.
02Sponsorship
Kerala based I-League club Gokulam Kerala FC is being sponsored by CSB Bank.
Sources and credits
This article is adapted from the Wikipedia article “CSB Bank”, written by its contributors and licensed under CC BY-SA 4.0. Fathomly has changed the layout, removed citation markers, navigation and maintenance notices, and adjusted punctuation. This adapted version is shared under the same license. For references, see the original article.
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