Karnataka Bank has set a business turnover target of ₹1 lakh crore, comprising deposits worth ₹58,500 crore and advances of ₹41,500 crore, for 2016-17.
In his address at the head office of the bank in Mangaluru on Friday, P Jayarama Bhat, Managing Director and Chief Executive Officer, said the bank envisages an overall growth of 18.6 per cent during the year.
The total business of the bank stood at ₹84,300 crore in 2015-16. This included deposits worth ₹50,400 crore and advances of ₹33,900 crore. The bank, he said, intends to open 40 branches, 225 ATMs and 100 e-lobbies/mini e-lobbies this fiscal. The bank is also looking to roll out technology-based products