The board of Karnataka Bank Ltd has accorded its in-principle approval for implementing transformation initiatives by engaging a consultant. The bank informed this to the stock exchanges after its board meeting on September 24.
In a separate filing to the stock exchanges on September 20, the bank had stated that it has witnessed many historical events both inside and outside industry level in its 93 years of existence.
The bank has been successful in transforming itself from time to time by adopting technological advancements for ensuring customer delight on an ongoing basis and in the process it emerged still stronger.
“As we step into the 94th year and also as the centenary year (2024) is fast approaching, the bank continues to explore transformation possibilities in all spheres of banking having regard to changing landscape of banking sector in the country,” it had said.
With a view to explore various transformation opportunities, including engaging consultants/advisors, the bank had convened a meeting of the board of directors on September 24.