The Thrissur based scheduled bank ‘ Catholic Syrian Bank’ has decided to change its name. The name given to bank is ‘CSB Bank LTD’. The new name will be in effect from 10 July.
The reason that forced the Kerala based private bank is ‘its name itself’. As many customers have quit the bank and the transaction are being under the surveillance of national as well as international agencies and that only because of its name.
The words ‘Catholic’ and ‘Syrian’ in the bank is creating problems for the bank. Many who first time hear the name of the bank cons=fuses that the bank is from the civil-war ridden Syria.The CEO and Managing director of the bank CVR. Rajendran explained that the bank has approached the Reserve Bank of Indian in 2015 requesting to change the name of the bank.
The bank which the biggest private bank operating from Kerala is decided to release IPO in September in order to strengthen the bank operations. An Indian origin Canadain citizen Prem Wattsa has bought the majority shares of the bank in last year.
The Catholic Syrian Bank was founded in 1920 and started operation in 1921.
Post Your Comments