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Our Bureau

Mangalore , June 20

The Chairman and Chief Executive Officer of Karnataka Bank Ltd, Mr Anantakrishna, who will be completing six years in office, has got extension of term for three more years effective from July 13. This will be the third term for Mr Anantakrishna.

A bank release said here on Tuesday that the bank registered all-round progress during his tenure in office. The bank almost trebled its business turnover to over Rs 21,000 crore (deposits of Rs 13,243 crore and advances of Rs 7,791 crore) as on March 31, 2006, from Rs 7,625 crore six years ago. The net profit of the bank went up to Rs 176.03 crore (Rs 40.71 crore).

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