Karnataka Bank to open 50 branches next fiscal

Karnataka Bank Ltd plans to open 50 branches during 2012-13.

Speaking at the inauguration of the 500th branch of the bank at Shiruru in Udupi district, Mr P. Jayarama Bhat, Managing Director of the bank, said the bank will open three more branches during the fiscal, taking the total number to 503.

The bank will set up 50 more branches and 250 ATMs during the next financial year, he said. Karnataka Bank now has 350 ATMs.

The bank is keen on working towards rural development. The 500th branch at Shiruru is oriented to reach out to the people in rural areas, he said.

The bank, which serves more than 50 lakh customers, has crossed a business of Rs 51,000 crore, Mr Bhat said.

Mr Ananthakrishna, Chairman of the bank, who presided over the function, said the development of rural areas is very much on the financial planning of the bank, and all banking activities are oriented towards reaching this objective.

Stating that Karnataka Bank has given highest priority for inclusive banking, he said most ATMs set up by the bank these days are in rural areas. These ATMs are providing unique banking facilities to villagers through technological services.

vinayakaj@thehindu.co.in