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Karnataka Bank targets 16% growth in business turnover

Karnataka Bank is targeting a business turnover of Rs1.44 lakh crore during 2019-20, the bank’s MD and CEO Mahabaleshwara M.S., said. He told the staff members of the bank in an address that the bank intends to focus on increasing the business per branch and would ensure a growth rate of 16% during the year. The provisional figures for 2018-19 show that the bank has achieved business turnover of Rs1.23 lakh crore, registering a growth rate of 12% on year-on-year basis. Advances of the bank increased from Rs47,252 crore to Rs54,883 crore in 2018-19, registering a growth of 16.1% over the previous year. Deposits of the bank also grew from Rs62,871 crore to Rs68,459 crore in 2018-19, registering a growth of 8.9% over 2017-18.

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