Catholic Syrian Bank launches gift card

With the festival season round the corner, Kerala-based private Catholic Syrian Bank has launched a gift card called 'CSB Uaphaar' here.

Malayalam filmstar Innocent launched the card at a function here last night.

Bank Chairman and CEO R Venkataraman said the card with a three-year validity period will be available in denominations starting from Rs 500 (in multiples of Rs 100 thereafter) to Rs 20,000.

The card, which can be used at all VISA accepting merchant outlets, also allows multiple usage till the entire amount is exhausted.

The 87-year-old bank has 363 branches of which 60 have been networked. Another 100 branches will be covered soon, Venkatraman said.

The bank posted a Rs 36 crore profit last year and proposes to distribute 30 per cent dividend. The bank's business is expected to cross Rs 11,500 crore this year, he said.