The Catholic Syrian Bank Ltd.

About:

The genesis of Indian Banking is associated to a large extent with Swadeshi Movement, which inspired many Indians to promote Swadeshi Banks in the beginning of the 20th Century. The enterprising founders of Catholic Syrian Bank Ltd also found this period to be a moment of opportunity to promote the establishment of a bank. Thus was born The Catholic Syrian Bank Ltd, Nine decades ago, on 26th November 1920 to be exact at Thrissur,which in later years acquired the unique distinction of being a centre with the highest concentration of banks in the South. The founder directors of the bank were people of eminence known for their foresight, integrity and initiative. The policy they laid down has been consistently upheld by the successive generations who guided the destiny of the institution. The bank commenced business on January 1st, 1921 with an authorised capital of Rs.5 lakhs and a paid up capital of Rs. 45270/-

During the first two decades of its functioning, the Bank concentrated only in Kerala. Banks and credit institutions which proliferated especially in Kerala received a jolt and many of them came to their doom following the crash of the Travancore National Quilon Bank in 1938 followed by Palai Central Bank in1960. During the period many small banks came to the verge of collapse shaking the confidence of the public and what followed was a process of consolidation. The strategy of mergers and amalgamations of small banks with bigger banks brought the number of banks within controllable limits, thereby making the industry's base strong. In 1964-65, The Catholic Syrian Bank Ltd took part in taking over the liabilities and assets of five small/medium sized banks in Kerala. The expansion programme initiated during these years gathered momentum in the subsequent years.

In August 1969, the Bank was included in the Second Schedule to the Reserve Bank of India Act 1934. In 1975, the Bank attained the status of "A" Class Scheduled Bank when its total Deposits crossed Rs.25 crores. The necessity of imparting training to staff looked very important and a modest beginning was therefore, made in setting up a Training College in 1975. In the same year the Bank entered the field of foreign Exchange. At a very early stage, the Bank recognised mechanisation as an effective tool of management and streamlined its accounting procedures by introduction of Data processing system. From November 1975, reconciliation of inter-branch accounts was mechanised by using IBM Data processing machines. Read More....

Vision:

"CSB endeavours to be a leading South India Based bank striving to excel in bringing products that satisfy the needs of targeted client segments, backed by excellent service – through our branches and technology driven initiatives in a compliant and regulated manner. For our Employees, we want to create a culture of Pride – driven by performance and productivity that should eventually result in sustainable growth in business and deliver superior returns to our Shareholders."

Contact Details:

The Catholic Syrian Bank Ltd.,
Head Office, CSB Bhavan, P.O Box No. 502,
St. Mary’s College Road,
Thrissur - 680 020,
Kerala, India.

Phone: 1800-266-9090
Website: http://www.csb.co.in

Courtesy: Catholic Syrian Bank