Financial Daily from THE HINDU group of publications
Saturday, Apr 02, 2005
Financial Daily from THE HINDU group of publications Saturday, Apr 02, 2005 |
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Money & Banking
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Private Banks Karnataka Bank eyes Rs 20,000-cr turnover Our Bureau
Mangalore , April 1 KARNATAKA Bank Ltd, which surpassed business turnover target of Rs 17,000 crore during 2004-05, plans to achieve a business turnover of Rs 20,000 crore during 2005-06.
The bank is planning to mobilise deposits of Rs 12,500 crore and disburse advances of Rs 7,500 crore during 2005-06. Addressing the staff at the bank's head office in Mangalore on Friday, the Chairman and Chief Executive Officer, Mr Ananthakrishna, said that the bank plans to contain the net NPA within 2 per cent. Apart from launching Internet banking facility, the bank is planning to introduce demat services and to distribute mutual fund products. A product called `Money Quick' for customer-to-customer remittance, through RTGS, is also on the cards, he said. The capital of the bank stands at Rs121 crore after the recent rights issue. He said the bank intends to take the total number of branches to 400 by the end of March 2006.
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