Money & Banking

Karnataka Bank opens 700th branch

Our Bureau Mangaluru | Updated on January 22, 2018 Published on December 30, 2015

Karnataka Bank Ltd opened its 700th branch in the country and the 16th in West Bengal state on Wednesday.

P Jayarama Bhat, Managing Director and Chief Executive Officer of the bank, who presided over the inaugural function at Howrah in Kolkata, said that as envisaged in in the bank’s ‘KBL Vision 2020’ document the bank plans to increase the number of branches to 1,000 and ATMs to 2,500 by March 2020. The bank has set a business turnover target of Rs 1.8 lakh crore by then.

GN Rath, Chief General Manager of Reserve Bank of India, Kolkata, who inaugurated the new branch and ATM, highlighted the need to ensure adequate and timely flow of credit to MSME sector.

Quoting Mahabaleshwara MS, Chief General Manager of the bank, a press release by the bank said here on Wednesday that the bank will be focusing on new customer on-boarding activities, so as to be a preferred bank of at least 1 per cent of Indian Population by 2020.

Published on December 30, 2015
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