The Hindu Business Line : Karnataka Bank sets loan target

Karnataka Bank hopes to disburse Rs 500 crore towards agriculturesector and increase its priority sector lending to 10 per cent from its current level of about 7 per cent. The Chairman, Mr Ananthakrishna, said that growth in other businesses and the difficulties faced by coffee farmers had combined to reduce its exposure in agriculture below the statutory requirement of 18 per cent. The bank hopes to achieve the target in stages by increasing its lending to contract farming segment apart from micro-finance segment. Mr Ananthakrishna was here in connection with the inauguration of its 411th branch.

The bank will be opening another 24 branches this year, he said. Karnataka Bank has set a target of increasing its deposit base by Rs 3,000 crore, and advances by Rs 2,000 crore in this fiscal. It has also a target of Rs 250 crore for profits compared with Rs 177 crore that it earned in 2006-07.

More Stories on : Farm credit | Private Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Karnataka Bank sets loan target

SBH, UAE Exchange launching MoneyGram

Lakshmi Vilas Bank to pay 7%

External borrowings becoming more expensive

Rupee impact: Bluechip IT stocks slump 7-14% in Jan-June

Rupee gains on dollar inflows

Deutsche Bank full-year net rises 73%

Life insurance cos aim at tapping health segment

Retail participation still low in ICICI Bank follow-on issue

ISO for bank security dept

Bond prices up 10 paise

Syndicate Bank's new scheme

Low call rates: `A case of wrong maths somewhere'

Syndicate Bank plans public issue this fiscal