The share of CASA (current account and savings account) deposits in Karnataka Bank stood at 32.82 per cent of all deposits during the second quarter of 2022-23, according to Mahabaleshwara MS, Managing Director and Chief Executive Officer of Karnataka Bank. The share of CASA was 30.88 per cent during the second quarter of 2021-22.

He shared the provisional numbers of the bank for the second quarter of 2022-23 while addressing regional heads in Mangaluru.

Core deposits of the bank stood at ₹81,628.97 crore during Q2 2022-23. Gross advances grew at a satisfactory rate of 10.09 per cent during the quarter, he said.

Stating that the bank has consolidated its H1 performance amid domestic inflationary and growth challenges triggered by adverse global political and economic factors, he said the bank would be able to reap the benefits of transformation in the days to come and create new benchmarks of performance.

He also inaugurated the bank’s ‘Digi Centre’ at Oshiwara in Mumbai through virtual mode. The fourth in the country and the first in Mumbai, the centre enables digital onboarding of customers and delivery of most products and services.

Mahabaleshwara said that as the bank extends its digital footprint across the country, there needs to be a collective responsibility to promote such initiatives among customers.