What does CSB mean? What is the full form of CSB?

The full form of CSB is Catholic Syrian Bank

CSB Bank Limited, formerly Catholic Syrian Bank Limited, is an Indian private sector bank with its headquarters at Thrissur, Kerala, India. The bank has a network of over 450 branches and more than 319 ATMs across India. 

Established in 1920 as The Catholic Syrian Bank Limited, CSB Bank Limited had its modest beginning in November 1920 and is currently the oldest private sector bank in Kerala, celebratingits Centenary Year in 2020. During this century long period, the Bank has grown from strengthto strength, adapting admirably to the far-reaching social, political and economic changes thathave taken place during the period. The enterprising spirit inherited from its founding fathers hasbeen maintained throughout its history, which has blended the tradition of hard work andcustomer focus in its march to the new Millennium.

It was in the year 1969 that the Bank became a Scheduled Bank, as it was included in the Second Schedule of Reserve Bank of India Act. In 1972 it came out of its traditional bastion and opened its first branch in Chembur, Mumbai. “A Class” Scheduled Bank status was attained by the Banking the year 1975 and it entered the field of International Banking in the same year. Currently the bank has 417 branches (comprising 3 service branches and 3 asset recovery branches) and 310ATMs (including onsite and Offsite) spread across 18 states, 2 union territories. Out of the 432branches (excluding 3 service branches and 3 asset recovery branches). For efficient administration, the Bank has organized all its branches under 9 Zonal offices. The Bank delivers its products and services through multiple delivery channels that include branches, ATMs, internet and mobile banking.

While the Bank has a long operating history as a traditional bank, it is currently focusing oninitiatives to transform itself into a full service contemporary bank. Towards this end, the Bankhas recently undertaken a number of initiatives to enhance its business focus by upgradingprocesses, technology and human resources. As part of its transformation, the Bank hasorganized its operations under focused business areas; re-aligning, training and incentivizingemployees; creating new products and services; increasing sales and marketing efforts; investingin technology and strengthening the monitoring and risk management framework.

We have implemented strategic changes in business model as a full service new age privatesector bank backed by our globally reputed promoter – FIH Mauritius Investments Ltd, aCompany wholly owned by Fairfax India Holdings Corporation( Fairfax India), part of FairfaxGroup. To this end, we have re-aligned our organizational set-up for efficiently driving ouroperations and business strategy, wherein branches will be responsible only for deposits, crossselling, and customer servicing, and all loan products will be driven by dedicated teams, with eachbusiness team operating as a profit centre. We have rebranded ourselves in the year 2019 bychange of name from The Catholic Syrian Bank Limited to “CSB Bank Limited”, to address regionand community related perceptional issues associated with our previous brand name.

The Bank successfully completed its Initial Public Offering (IPO) to the tune of Rs. 409.67 crorewhich received an overwhelming response from the investors and the issue was subscribed overall by 86.92 times. Subsequently, the Bank’s shares were listed on Indian stock exchanges onDecember 4, 2019.

CSB was the pioneer in the field of mechanization among banks, a process started in the year1975. Since June, 2009 all our branches have been brought under CBS platform, a softwareProgramme named MAARVEL, developed jointly with a reputed software company. Technologyhas been leveraged for providing banking convenience to customers and all our branches havebeen enabled and included in the RTGS network. As a member of National Financial Switch ofIDRBT our customers can have access of almost all ATMs, all over the country belonging todifferent Banks. SMS and e-mail alerts are available to customers on demand.

Currently we have a client base of more than 1.5 million customers. CASA portfolio constitutes29.17% of our total deposits. With the intention of making the right proposition to the rightcustomer at the right time, tailor made banking products have been designed to cater to thespecific banking needs of various sections of the society. The Bank currently has four principalbusiness areas, namely, (a) SME Banking, (b) Retail Banking, (c) Corporate Banking and (d)Treasury Operations.

Tie up arrangements have been made with reputed companies for providing other financialproducts to our customers. For providing insurance solutions to customers Bank has tied up withEdelweiss Tokio Insurance Company Ltd and ICICI Lombard General Insurance Company Ltd.International money transfer service and wealth management through mutual fund route is alsomade available to customers. The debit cards launched in association with VISA International.

Good corporate governance, regulatory compliance and corporate social responsibility forms anintegral part of the banks philosophy. The Bank has total staff strength around 3,204, trained andequipped to render efficient customer service. Our intention is to service the entire financialneeds of the customer. We are also expanding our products suite, services and digital bankingplatform, with investments in technology aimed at improving our customers’ experience, makingit easier for them to interact with us, and offering them a range of products tailored to theirfinancial needs.



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