Mangaluru, Apr 01, 2019 : In his maiden address of the current financial year on 01-04-2019 at Mangaluru, addressing the staff of the Bank, setting the business agenda for the Bank, Shri Mahabaleshwara M S, Managing Director & CEO said that, “For the new financial year 2019-20, it is planned to target a business turnover of Rs. 1,44,000 crore with a growth rate of 16%.”He also highlighted the Bank’s business performance during the financial year 2018-19 and rolled out the business agenda for the new financial year 2019-20.
As per the provisional figures for the financial year ended March 2019, Bank has achieved a business turnover of Rs. 1,23,300 crore registering a growth rate of 12% on year – on – year basis. The Advances of the Bank increased from Rs. 47,252 Crores to Rs. 54,883 Crores in the FY 2018-19 registering a growth of 16.1%[provisional] over the corresponding period of the previous year. The deposits of the Bank also grew from Rs. 62,871 Crores to Rs. 68,459 Crores in the FY 2018-19 registering a growth of 8.9% over the corresponding period of the previous year. The Bank has also posted a robust CD ratio of around 80.00% for the FY 2018-19. As on March 31, 2019, the Bank has 836 branches, spread across 22 states and 2 Union Territories and plans to add another 24 new branches and 70 new e-lobbies to take the total to 860 branches and 400 e-Lobbies respectively.
The Bank intends to focus on increasing business per branch and has budgeted Rs. 1,44,000 crore business for the year 2019-20 with a growth rate of around 16%.