Karnataka Bank Ltd will continue to focus on credit growth, NPA and stress management, CASA (current account savings account) improvement, and other income streams with its customer-centric approach to further excel in all identified areas, according to Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank.
Addressing the regional heads of the bank in the annual review meet in Bengaluru, he said the bank has been able to steer through successfully despite the pandemic-affected economy.
As per the provisional numbers, the bank has achieved a historic high of 32.97 per cent CASA deposits as on March 31. The business turnover stood at ₹1,38,111 crore with a growth rate of 7.59 per cent, consisting of deposits of ₹80,385 crore and advances of ₹57,726 crore as per the provisional figures.
Mahabaleshwara said the advances have registered a growth rate of 9.48 per cent as per the initial estimates.
He said the digital drive under wave 1.0 of the bank’s aspirational transformation journey ‘KBL Vikaas’ has had a desired impact in strengthening the bank’s fundamentals across different business verticals, internal processes, HR administration etc.
With the objective of taking the digital initiatives to the next level, the bank has launched project ‘KBL NxT’ under wave 2.0 of ‘KBL Vikaas’ to emerge as the ‘Digital Bank of Future’, he said.
P Pradeep Kumar, Chairman of the bank, advised the regional heads to lead from the front and emphasised the role of regional heads as business facilitators.
Gokuldas Pai, Chief Business Officer of the bank, delivered the introductory address. The Chief Operating Officer, Balachandra YV, moderated the discussions. All top executives of the bank participated in the deliberations.
A statement said all the regional heads across the country, department heads and other executives of the bank participated in the conference.