Money & Banking

Karnataka Bank launches CASA campaign

Our Bureau Mangaluru | Updated on November 17, 2020

Shares of Karnataka Bank tumbled on Friday after the lender reported a 12 per cent decline in net profit for Q3 due to rise in bad loans. The lender’s stock dropped 4.59 per cent to close at Rs. 74.85 on the BSE GRN SOMASHEKAR

Karnataka Bank launched CASA (current account, savings account) mobilisation campaign on Monday which will run from November 17 to March 4, 2021.

A press release by the bank said that it intends to mobilise over 4.10 lakh current and savings accounts with an accretion of ₹650 crore of business.

Quoting Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, the release said that the campaign has twin objectives of enabling basic banking services to unbanked sections of society and also popularising digitally-powered CASA products of the bank for the next level of customers based on their requirements.

He said that the bank has been focussing more on cost-effective CASA funds.

“With a tailor-made product line to meet the needs and preferences of all classes of society from basic banking accounts to premium accounts, I am sure that banking at Karnataka Bank is going to be a hassle-free and rewarding experience,” he said.

Published on November 17, 2020

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