The Hindu Business Line : ‘Focus on low-cost deposits’

Karnataka Bank Ltd has urged its regional heads to focus on the growth of savings bank and current accounts. Addressing the regional heads of the bank to review the performance of the bank for the second quarter here, Mr Ananthakrishna, Chairman and Chief Executive Officer of the bank, said the high-cost deposits ate into the margins of the bank. He felt that the recent hike in cash reserve ratio would impact the profitability of banks to a considerable extent. Stressing t he need to increase the credit off take, he said the bank should scout for good proposals that will reward it suitably. —

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