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Karnataka Bank is looking to achieve a business turnover of ₹1.30 lakh crore during 2018-19. This includes deposits of ₹72,000 crore and advances of ₹58,000 crore.
The bank achieved a business turnover of ₹1.10 lakh crore during 2017-18.
Addressing staff members at the bank’s head office in Mangaluru on Monday, Mahabaleshwara MS, Managing Director and CEO, said the bank intends to focus on increasing business per branch to reach a business turnover of ₹1.30 lakh crore in 2018-19, a growth rate of around 22 per cent over the previous year.
Quoting the provisional figures for 2017-18, he said, the bank achieved ₹1.10 lakh crore business turnover, registering a growth of 17.82 per cent on year-on-year basis.
He said that advances of the bank increased to ₹47,564 crore in 2017-18 from ₹37,004 crore in 2016-17, a 28.54 per cent growth. Deposits of the bank grew to ₹62,876 crore in 2017-18 from ₹56,733 crore in 2016-17, registering a growth of 10.83 per cent.
He said the bank posted a credit-deposit ratio of 75.65 per cent in 2017-18.
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