mangalore today
name
name
name
Saturday, July 20
Unitynamename

 

Karnataka Bank targets Rs. 1,44,000 crore business turnover for 2019-20

Karnataka Bank targets Rs. 1,44,000 crore business turnover for 2019-20


Mangalore Today News Network

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.


karnataka1apr19

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%.


Write Comment | E-Mail | Facebook | Twitter | Print
Write your Comments on this Article
Your Name
Native Place / Place of Residence
Your E-mail
Your Comment
You have characters left.
Security Validation
Enter the characters in the image above