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Mr Ananthakrishna

Our Bureau

Mangalore, Aug. 18 Karnataka Bank Ltd has targeted a foreign exchange merchant turnover of Rs 10,250 crore during the current financial year, envisaging growth of Rs 2,375 crore for 2008-09.

During 2007-08, the bank achieved a forex merchant turnover of Rs 7,874.46 crore, showing a growth of around 30 per cent.

A bank release said here on Monday that Mr Ananthakrishna, Chairman and Chief Executive Director of the bank, gave these details at the ‘Foreign exchange seminar 2008’ of the bank here recently.

He said that there is a need for expanding the forex credit as it is a national priority and also to achieve a balanced future with sustainable growth.

Branch heads were advised to scout for new forex clients. He emphasised the need to create more awareness among the customers regarding derivatives while marketing such products.

More Stories on : Outlook | Private Banks | Forex

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