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Karnataka Bank aims to have Rs 110,000 cr turnover

Karnataka Bank is aiming to achieve a business turnover of Rs 110,000 crore in 2017-18.  MD and CEO of the bank P. Jayarama Bhat said the bank is also expected to have deposits of Rs 64,500 crore and advances of Rs 45,500 crore by that date. He said as on 31 March 2017, the bank has 2145 service outlets comprising of 765 branches and 1,380 ATMs across the country. It also has 110 e-lobbies and mini e-lobbies. Bhat said 2016-17 was a year of ‘satisfactory’ growth considering the prevailing economic conditions in the global and domestic economies and the impact of demonetization on the banking industry in the country. The bank would open 35 new branches including 9 financial inclusion branches to take its tally to 800 branches by March 2018. The number of ATMs would be increased from the present level of 1,380 to 1,450.

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