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V was incorporated on 14th November 1927 by a group of

public spirited entrepreneurs at Thrissur, the cultural capital of Kerala with a
capital of Rs.11,000 and 7 employees. It became a Scheduled Commercial
Bank in the year 1977. It is today a pan India entity with 181 branches and 26
Extension Counters spread over the States of Kerala, Tamil Nadu, Karnataka,
Andhra Pradesh, Maharashtra, Gujarat, Delhi and West Bengal.
VV
The Bank has recently received approval from the Reserve Bank of India for
opening 66 branches across the country, 5 Regional Offices in Kerala at
Thiruvananthapuram, Ernakulam,Thrissur, Palakkad and Kozhikode and 2
Central Processing Centers at Thrissur and Hyderabad. It also proposes to
add 380 ATMs during the year taking the customer touch points from the
present 279 to 725 by the end of 2009-10.
VV
The Bank serviced a business of Rs.8212 crores as on 31.03.2009 comprising
deposits of Rs.4969 crores and advances of Rs.3243 crores. The Bank made a
net profit of Rs.57.45 crores for the year ended 31st March 2009. The Capital
Adequacy Ratio of the Bank as on 31.03.2009 was 14.44% (Basel I) and 15.38%
(Basel II) and its networth exceeded Rs.400 crores as on that date. The Bank·s
business growth rates during the year 2008-09 far exceeded that of the
banking industry.
VV
The Bank is tech savvy and has deployed technology widely as an instrument
for enhancing the quality of customer service. It has introduced Centralised
Banking Solution (CBS) on the Flexcube Platform at all its branches for
extending Anywhere/Anytime/Anyhow banking to its clientele through
multiple delivery channels. The Bank has set-up a state-of-the-art Data Centre
in Bangalore, to keep the networked system operational round the clock. A
Disaster Recovery Centre is also operational at Trichur for meeting various
contingencies.
VV
The Bank lays stress on customizing services and personalizing relations. It has
introduced an International Debit Card through a tie-up with M/s Visa
International and has provided to its customers access free of cost to more
than 30,000 ATMs in the country. The Bank has installed 73 networked ATMs
thus far in centres of high banking activity.
VV
The Bank has introduced tele-banking and Internet banking at all branches. It
is also providing speedy cheque collection facilities to its constituents through
Cash Management Services (CMS) at all its branch locations.
VV
The Bank has put in place Real Time Gross Settlement (RTGS) and National
Electronic Fund Transfer (NEFT) Systems to facilitate large value payments and
settlements in real time through on-line mode on a transaction-by-transaction
basis.
VV
 The Bank has ventured into insurance business and is selling the products of
M/s. Bajaj Alliance Insurance Company Ltd., as their corporate agent. The
Bank is also a depository participant of NSDL (National Security Depository
Limited) offering Demat services through select branches.
VV
With a view to making available value-added services to the NRIs, the Bank
has set up NRI Boutiques (Relationship Centres) at 9 locations in the State of
Kerala and Tamil Nadu. The Bank has also plans to open specialized NRI
outlets with accent on quality of service at potential locations. As at the end
of March 2009, the Bank had Rupee Drawing Arrangements with 8 Exchange
Houses in the Middle East. For fast money transfer, it has tied up with UAE
Exchange & Financial Services for Xpress Money and Moneygram, Wallstreet
Finance for Wallstreet instant cash and Indusind Bank Limited for Zoha Inc. The
Bank has also tied up with SBI Mutual Fund, Birla Sunlife Mutual Fund and
Principal PNB Asset Management Company Pvt Ltd for selling their products.
VV
The Bank·s Corporate Office, Thrissur and Industrial Finance Branch at Kochi
have been accredited with certification under ISO 9001-2000.
VV
On the socio-economic front, the Bank is a leading player in dispensation of
Micro Credit among Kerala-based Banks, both public and private. As at the
end of March 2009, the outstandings under micro credit were Rs.124.40
crores. This involvement is part of the Bank·s objective to act as a catalyst for
the economic prosperity of the country. The Bank has recognized micro
finance intervention as an effective tool for poverty alleviation and has
streamlined the linkage between the Bank and Self Help Groups through
nearly 130 branches. The Priority sector advances of the Bank as at 31st March
2009 constituted 53.48% of Net Bank Credit well above the RBI benchmark of
40%. Agricultural advances as a percentage of Net Bank Credit was 21.40%
as against the RBI norm of 18%.
VV
The Bank is managed by a Board of Directors comprising professionals drawn
from various walks of life with Shri.G.N.Bajpai as Chairman and Shri. Amitabh
Chaturvedi as the Managing Director and CEO.VV
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