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Karnataka Bank is aiming to achieve business turnover of ₹1.44 lakh crore during 2019-20. Addressing staff members of the bank on the first day of financial year 2019-20, in Mangaluru, on Monday, Mahabaleshwara MS, Managing Director and CEO, said Karnataka Bank intends to focus on increasing the business per branch and has targeted ₹1.44 lakh crore business for 2019-20 at a growth rate of 16 per cent.
As per the provisional figures for 2018-19, the bank achieved business turnover of ₹1.23 lakh crore, registering a growth rate of 12 per cent on year-on-year basis.
Advances of the bank increased from ₹47,252 crore to ₹54,883 crore in 2018-19, registering a growth of 16.1 per cent (provisional) over the previous year. Deposits of the bank also grew from ₹62,871 crore to ₹68,459 crore in 2018-19, registering a growth of 8.9 per cent over 2017-18.
The bank posted a CD ratio of around 80 per cent for 2018-19. The number of branches of the bank stood at 836 spread over 22 States and two Union Territories as on March 31. He said the bank plans to add 24 new branches and 70 new e-lobbies during 2019-20 to take the total to 860 branches and 400 e-lobbies, respectively.
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