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Monday, April 22, 2013

Karnataka Bank chief’s fiat to boost advances

Mobilisation and expansion of advances portfolio are important for improving the bottom line of the bank, said Managing Director of Karnataka Bank P. Jayarama Bhat.

Addressing the regional heads’ review meeting in Mangalore on Monday, he stressed on the importance of low-cost deposits and expansion in advances portfolio, through proper scrutiny and selection of borrowers, to improve the bottom line of the bank.

Bhat urged them to focus more on improved customer service and credit to retail sector – especially to micro, small and medium enterprises – besides agriculture and forex sector to ensure sustained growth.

He also underlined the need for speedy recovery of non-performing assets by initiating appropriate recovery action at right time.

Bhat said that in this era of keen competition when the banking industry growth rate is moderate, the quality of service and assets scores over the quantity. The strength of an organization lies in effective management of assets. Both staff and customers are critical to the growth and development in the banking sector, Bhat said.

M.S. Mahabaleshwara Bhat, General Manager, outlined the performance of the bank 2012-13 and presented goal for 2013-14.

A bank release said here that the General Managers P. Jairama Hande, M.V.C.S. Karanth and Meera B. Aranha, spoke on the occasion.

Source: thehindubusinessline


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