Karnataka Bank MD, CEO, lays down focus areas for last quarter

Mangalore Today News Network

Mangaluru, Feb 01, 2017: City-based private sector bank - Karnataka Bank Ltd held the regional heads review conference for quarter ended December 2016 on Monday. P Jayarama Bhat, managing director and CEO of the bank said, "While Q3 witnessed a surge in deposits, particularly CASA, focus on current quarter shall be on profitable deployment of funds through effective credit augmentation, effective credit monitoring to prevent slippages, recovery of NPAs."

The bank will also focus on augmenting fee-based income by effective marketing of bank-assurance and other para-banking products and improving cost effectiveness by increasing the penetration of alternate delivery channels/digital banking products and services.

Mahabaleshwara M S, CGM, said overall business growth of during the nine month period was 10.5% (deposits: 12.5% and advances: 5.8%) compared to overall business growth of 7.8% of the industry.