Target for turnover of Rs 1,44,000 crore: Karnataka Bank

April 1: Karnataka Bank managing director and chief executive officer (CEO) Mahabaleshwara M S said that their business target for the turnover in next financial year was Rs 1,44,000 crore, with a growth rate of 16%. He highlighted the Bank’s performance in the financial year 2018-19 and rolled out the agenda for the new financial year on Monday.
He listed out provisional figures for the financial year that ended in March 2019. The Bank has achieved a new business high of Rs 1,23,300 crore turnover. It has also registered a growth rate of 12% on a year-on-year basis. The advances of the Bank have increased from Rs 47,252 crore to Rs 54,883 crore in the financial year 2018-19, registering a growth of 16.1% (provisional) over the corresponding period of the previous year.
He added that the deposits of the Bank had grown from Rs 62,871 crore to Rs 68,459 crore in 2018-19, with a growth of 8.9% over the corresponding period of the previous year. He even informed that the Bank has 836 branches spread across 22 states and 2 union territories and plans to add 24 new branches and 70 new e-lobbies, where the Bank intends to focus on increasing business in every branch.