The CASA (current account savings account) deposits of Karnataka Bank Ltd reached 32.97 per cent as on March 31, according to Mahabaleshwara MS, Managing Director and Chief Executive Officer, Karnataka Bank.

Addressing staff members of branches and offices across India virtually on Friday, he said as per the provisional numbers the bank has achieved a historic high of 32.97 per cent CASA deposits as on March 31. The business turnover of the bank stood at ₹1,38,111 crore with a growth rate of 7.59 per cent, consisting of deposits of ₹80,385 crore and advances of ₹57,726 crore, as per the provisional figures. The advances has registered a growth rate of 9.48 per cent as per the initial estimates, he said.

“We have navigated fairly well after having a full year affected by Covid. Policy level support from the Government of India to promote manufacturing through PLI schemes, encouragement for green economy are good indicators signalling future growth prospects of the country even as we navigate risks of war and increasing interest rates from external world,” Mahabaleshwara said.

After successfully implementing the first phase of KBL-Vikaas 1.0 by rolling out digital under writing of retail loan products with a turnaround time that is amongst the best in the industry, the bank is now focusing on taking the digital initiatives to the next level by focusing on ‘KBL NxT’ concept under wave 2.0. to evolve as ‘Digital Bank of Future’, he said.

“Analytics, chatbots, artificial intelligence, machine learning, account aggregators, neo banking, trade finance automation, opening of digi centres across the country, etc., are the key focus areas for the bank,” he added.

Related Topics
comment COMMENT NOW