Karnataka Bank will focus on credit augmentation and recovery of bad loans in 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 was not a favourable year for the banking industry due to various economic and other external factors.
Therefore, there is a need to take vigorous action in 2016-17 to ensure all the business targets are achieved on a quarterly basis in order to bounce back and convert the current financial year into one 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, savings account) deposits. 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.
Digital banking More thrust also needs to be given to take the 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 on a quarterly basis under key business areas. This would help in achieving the bank’s ‘Vision 2020’ goals, he said.