Money & Banking

Karnataka Bank to get Centenary building

Our Bureau Mangaluru | Updated on October 15, 2021

Mahabaleshwara MS

The proposed new building in Mangaluru will be capable of housing various operations for future banking

Foundation stone for the establishment of the centenary building of Karnataka Bank was laid in Mangaluru on Friday. Established in 1924, the bank will observe its Centenary Year during the financial year 2023-24.

To be constructed adjacent to the present Head Office premises of the bank in Mangaluru, the proposed new building will be of 2.41 lakh sq ft of area.

Laying the foundation stone for the centenary building, Mahabaleshwara MS, Managing Director and Chief Executive Officer of Karnataka Bank, said the bank has always travelled ahead of time to cater to the varying demands of the customers from all walks of life.

As the bank steps into the second century of its existence, it is going through a new phase of growth backed by optimum use of new age digital technologies enabled by machine learning/artificial intelligence and business intelligence.

He said the proposed new building will be a state-of-the-art infrastructure capable of housing various operations for future banking.

In 1924, the founders of the bank started operations from a single branch at Dongerkery in Mangaluru in a very tiny premises primarily to cater to small farmers and traders.

The bank witnessed a period of exponential growth under the visionary leadership of late K Suryanarayana Adiga. It was during his time the bank shifted its head office to a spacious own building of 35,000 sq ft area at Kodialbail in Mangaluru. The said premises was inaugurated by late TA Pai, the then Central minister.

The bank decided to have a premises commensurate with its growth momentum and shifted its head office to a 1.19 lakh sq ft own building at Mahaveera Circle in Mangaluru in 2003.

P Jayarama Bhat, Chairman of the bank, the directors, and senior executives of the bank were present at the programme to lay the foundation stone for the new building.

Published on October 15, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like