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Saturday, December 15, 2012

Karnataka Bank eyes Rs 1-lakh cr biz in 3 years

Karnataka Bank is targeting a business of Rs 1-lakh crore by March 2015, according to its Managing Director.

Inaugurating the new premises of the Balmatta branch of the bank in Mangalore on Friday, P. Jayarama Bhat, Managing Director, said that the bank, which achieved 20 per cent growth in business in the last fiscal, is targeting 25 per cent business growth during the current fiscal.

“We have plans to achieve 30 per cent business growth in the next fiscal. We want to achieve a business of Rs 1-lakh crore by March 2015,” he said.

The bank, which has 514 branches, will take the total number to 550 branches by March 2013, he said.
Takeover rumours

Denying the takeover rumours in the market, he said: “Many rumours are doing rounds in this regard. There is no need for panic in this matter. Your Karnataka Bank will remain as yours.”

Bhat said that Karnataka Bank is not promoted by any individual institution or promoter.


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