Karnataka Bank Ltd is targeting a business turnover of ₹91,000 crore for 2015-16. This includes deposits of ₹53,500 crore and advances of ₹37,500 crore.

Rolling out the business agenda for the financial year 2015-16 at the head office in Mangaluru on Wednesday, P Jayarama Bhat, Managing Director and Chief Executive Officer, envisaged an overall growth of 17 per cent in business during 2015-16.

As on March 31, the bank had 1,675 service outlets, including 675 branches and 1,000 ATMs, located across India. During 2014-15, bank opened 75 new branches and 300 ATMs.

As part of the financial inclusion initiative, the bank opened 19 financial inclusion branches in un-banked rural centres during 2014-15. It also launched a 24X7 e-lobby facility and missed call banking solution during the year.

Quoting Bhat, an official statement said the bank intended to open 50 new branches (including 13 financial inclusion branches) and 275 new ATMs during 2015-16.

“We also aim at rolling out innovative technology-based products to suit the changing profile of our customers, such as social media banking, student combo card, card-less cash, mobile apps, new version of Internet banking, etc,” he said.

The bank will introduce a Fraud Risk Management Solution (FRMS) to enhance the customer acceptability of digital banking products. Two special purpose verticals — Credit Monitoring Cell (CrMC) for effective post-sanction monitoring of advances, and IT enabled Business Solution (IT- Bus) cell for conceiving and implementing new digital banking business ideas — will also be set up.

To strengthen branch management, it will open regional offices at Udupi and Tumkur shortly. The bank is in the process of bringing out its ‘VISION-2020’ document to chart out a comprehensive growth plan for the next five-year period, he said.

Related Topics
comment COMMENT NOW