The provisional business numbers of Karnataka Bank for the third quarter of 2022-23 have shown a growth of 12.37 per cent in terms of gross advances.

This was revealed by Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, at the regional heads’ review conference in Mangaluru on Monday.

Sharing the provisional business numbers for Q3 of FY23, he said gross advances have grown at a satisfactory rate of 12.37 per cent. The gross advances of the bank increased to ₹63,658.59 crore during third quarter of 2022-23 against ₹56,651.67 crore in the corresponding period of 2021-22, recording a growth of 12.37 per cent.

He said the share of CASA (current account savings account) stood at 31.91 per cent during the third quarter of 2022-23, and the core deposits of the bank stood at ₹84,592.60 crore.

customer-centric approach

“While focusing on quality credit augmentation, resource mobilisation under CASA and retail term deposits, NPA and stress management, consolidating other income streams, etc., let us further strive to improve the overall digital adoption to emerge as the ‘digital bank’ with our continued customer-centric approach,” he said.

“We should continue our good performance and reach a new high by creating new benchmarks of performances, while stepping into the bank’s Centenary Year. This will be a tribute to the founding fathers of this great institution, who had a vision of bringing up the bank to the present position of being a socially committed thriving business entity,” Mahabaleshwara said.