Karnataka Bank is targeting a business of Rs 78,000 crore for 2013-14.
Quoting P. Jayarama Bhat, Managing Director of the bank, a press release said here on Monday that this business would include deposits of Rs 45,500 crore and credit of Rs 32,500 crore in 2013-14.
He said that the bank’s business touched Rs 61,300 crore in 2012-13. This included deposits of Rs 36,050 crore and advances of Rs 25,250 crore.
In the case of disbursal of credit, the bank surpassed targets for priority sector (40 per cent), agriculture sector (18 per cent), and weaker section (10 per cent) during 2012-13.
The overall credit-deposit ratio of the bank stood at 70 per cent.
Growth slump
Bhat observed that the outlook for the financial year 2013-14 continues to be challenging. With the Indian economy yet to recover from the slump in growth, the banking sector of the country is confronted with the task of achieving decent growth levels both for deposits as well as advances and recovery/containing of NPAs, he said.
As on March 31, the bank had 550 branches and 504 ATMs located across India. The bank is looking to increase the number of its branches and ATMs to 600 each during the current fiscal, the release added.