Robust performance during Q2 should act as spring board for future growth

Robust performance during Q2 should act as spring board for future growth

Mangalore Today News Network

Mangaluru, Oct 15, 2018: Addressing the Regional Heads and Executives of the Bank, Shri Mahabaleshwara M.S, Managing Director & CEO, said “Bank has ended the Q2 on a positive note by posting all round performance in business front, earnings front, de-stressing the asset portfolio and improving the staff efficiency thus further strengthening the fundamentals of the Bank.

The highlight of this quarter is that, Bank has achieved 19.79% increase in the Net Profit besides registering a total business of ` 1,13,854 crores as on 30-09-2018, registering a y-o-y growth of 16.63% in these times of trying circumstances. Reduction in Gross NPA, control in slippage ratio and credit cost etc., augurs well for the future of the Bank. The strong all round performance of the Bank should act as a spring board for further growth in all the business areas of the Bank for the ensuing quarters of the current FY.

Further the Business should stand on compliance and quality and going forward, Bank will be focussing on improving the CASA base, strengthening the collection mechanism to de-stress the asset portfolio, ensuring business growth, cashing in on the opportunities thrown in by the current banking scenario, strengthening the overall IT security infrastructure, adding new business verticals etc. This can be effective when each one of the new age executives of the Bank will act as the change agents first by effecting the change in themselves to see the change that we all aspire to see in our Bank. The base for this change lies in acquiring new age skills particularly focussing on analytical skills backed by timely action.”

The Regional Heads Review conference of Karnataka Bank was held today at the Head Office of the Bank at Mangaluru. The Regional Heads of all the 12 Regions of the Bank besides other key executives of the Bank attended the one day conference to review the performance of the Bank for the Half year ended September 2018 and to decide on the way forward for the rest of the current financial year.

Shri Raghavendra Bhat M, Chief Operating Officer, delivered the welcome and introductory address. Shri Mahalingeshwara K, General Manager, made a presentation on business performance of the Bank during the period ended 30th September 2018.

Shri Chandrashekar Rao B, Shri Subhaschandra Puranik, Shri Balachandra Y V,  Shri Muralidhar Krishna Rao, Shri Gokuldas Pai and Shri Manjunatha Bhat B K, General Managers were also present on the occasion.

All the Regional Heads from across the country, Departmental Heads and other executives at the Bank participated in the conference.

Shri Ravindranath Hande H P, Deputy General Manager, proposed the vote of thanks.