Catholic Syrian Bank Limited was started in November 1920 and is presently the oldest private sector bank in Kerala, celebrating its centenary in 2020 as it completes 100 years of its establishment. Many social, political and economic changes took place during this period. The entrepreneurial spirit inherited from its founding fathers has been maintained throughout its history, blending a tradition of hard work and customer attention into its march to the new millennium.
The bank became a scheduled bank in the year 1969, as it was included in the second schedule of the Reserve Bank of India Act. Opened its first branch in 1972 at Chembur, Mumbai. The status of “A Class” scheduled bank was achieved by banking in the year 1975 and in the same year it entered the arena of international banking. Presently the bank has 417 branches (includes 3 service branches and 3 asset recovery branches) and 310 ATMs (including onsite and offsite) spread across 18 states, 2 union territories. Out of 432 branches (excluding 3 service branches and 3 asset recovery branches). For efficient administration, the bank has organized all its branches under 9 regional offices. The bank distributes its products and services through multiple distribution channels which include branches, ATMs, internet and mobile banking.
The Bank has recently taken several initiatives to focus its business by upgrading the processes, technology and human resources. As part of its transformation, the Bank has organized its operations under focused business areas; Re-aligning, training and encouraging employees; creation of new products and services; Increased sales and marketing efforts; Investment in technology and strengthening of monitoring and risk management framework.
Strategic shift in business model as a full service new age private sector bank backed by globally reputed promoters – FIH Mauritius Investments Limited, a wholly owned company of Fairfax India Holdings Corporation (Fairfax India), part of the Fairfax Group have been implemented. To this end, it has re-aligned its organizational structure to run its operations and business strategy efficiently, with branches being solely responsible for deposits, crossselling and customer service, and all loan products being handled by dedicated teams, each The team working as a profit center with the business. We have rebranded ourselves from Catholic Syrian Bank Limited to “CSB Bank Limited” in the year 2019 to address the conceptual issues related to the sector and community associated with our previous brand name.
CSB was a pioneer in the field of mechanization among banks, a process started in the year 1975. Since June, 2009 all our branches have been brought under CBS platform, a software program called MAARVEL developed jointly with a reputed software company. Technology has been leveraged to provide banking facility to the customers and all our branches have been enabled and included in the RTGS network. As a member of IDRBT’s National Financial Switch, our customers can access almost all ATMs belonging to various banks across the country. SMS and E-mail alerts are available on customer demand.
We have tied up with reputed companies to provide other financial products to our clients. The Bank has tied up with Edelweiss Tokio Insurance Company Limited and ICICI Lombard General Insurance Company Limited to provide insurance solutions to the customers. International money transfer service and wealth management is also available through the mutual fund route.
We currently have a customer base of over 1.5 million customers. CASA Portfolio accounts for 29.17% of our total deposits. With an intention to deliver the right offer at the right time to the right customer, tailor-made banking products have been designed to meet the specific banking needs of different sections of the society. Presently the Bank has four major business segments, namely (A) SME Banking, (B) Retail Banking, (C) Corporate Banking and (D) Treasury Operations.
Catholic Syrian Bank IFSC Code
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