The Karnataka Bank chief has stressed upon the need for focusing on credit augmentation and monitoring, and on recovery of non-performing assets (NPAs) during 2016-17.
Speaking at the review conference of regional heads of the bank in Mangaluru on Wednesday, P Jayarama Bhat, Managing Director and Chief Executive Officer of the bank, said that 2015-16 has not been a favourable year for the banking industry in general, due to various economic and other external factors.
Therefore there is a need for taking vigorous action during 2016-17 to ensure achievement of all the business targets on a quarterly basis to bounce back and convert the current financial year into a year of high growth, he said.
“In the process, there is a need to focus on credit augmentation and monitoring, recovery of NPAs and increasing CASA (current account and savings account). On the qualitative side, there is a need to strengthen the control mechanisms at all levels to ensure adherence to quality parameters and improvement in operational efficiency,” he said.
More thrust also needs to be given to take digital banking initiative forward during the current financial year, Bhat said.
Mahabaleshwara MS, Chief General Manager of the bank, highlighted the need to show consistent growth under key business areas, on a quarterly basis. This would help in achieving the bank’s ‘Vision 2020’ goals, he said.