Karnataka Bank wants to double its business in the next three years with the help of business process re-engineering (BPR). In this regard, the bank has engaged KPMG Advisory Services Pvt Ltd for BPR implementation.
P. Jayarama Bhat, Managing Director of the bank, said that the BPR initiative will be rolled out across its 510 branches, and is aimed at high quality growth across its assets, liabilities, products and services.
Speaking to Business Line, he said: “We want to double the business over the next three years with this BPR. The bank wants to take its total business from the present Rs 55,000 crore to Rs 1.20 lakh crore by March 2015.”
High growth and superior quality is the mandate given to KPMG, as the bank is aiming to clock an annual growth rate of 25-30 per cent, he said.
Based on the diagnostic study of the processes of Karnataka Bank last year, KPMG gave some recommendations. “We wanted their (KPMG) presence in the implementation of the recommendations also,” he said.
Through this BPR, the bank will comprehensively reengineer and reposition its marketing efforts, sector prioritisation, delivery channels, brand building, etc., with optimum utilisation of the resources at its disposal, he said.
Narayanan Ramaswamy, Partner, KPMG Advisory Services Pvt Ltd, and Bhat signed the MoU on BPR in Mangalore on Wednesday.