Karnataka Bank will open 75 new branches, including 21 financial inclusion branches during 2014-15, as well as 300 new ATMs to increase its total number of service outlets to 1,675 by the end of March 2015. Jayarama Bhat, MD & CEO of the bank, said the bank is targeting total business turnover of Rs 83,000 crore comprising deposits of Rs 48,000 crore and advances of Rs 35,000 crore during 2014-15. The bank envisages overall growth of 20.30% in business during 2014-15. As on 31 March 2014, the bank operated 1,300 service outlets comprising 600 branches and 700 ATMs across India. During 2013-14, the bank opened 50 new branches and 196 ATMs. Further, as part of its financial inclusion initiative, the bank opened 13 financial inclusion branches apart from 17 ultra small branches in unbanked rural centres during the year.
