Karnataka Bank to focus on retail growth in FY12

Private sector lender Karnataka Bank aims to grow its retail business to 60% of total from current 55%, a senior official said on Tuesday.

"We want to take to retail growth. We are giving more thrust to housing loans, vehicle loans, and SMEs. Also, we want to go aggressively into agticultural credit, where we have not reached our target," Managing Director P Jayarama Bhat told Reuters.

Karnataka Bank also expects to double its gold loan business to Rs 1,500 crore in the current fiscal ending March 2012.

The Mangalore-based based bank aims to expand its branch network to 500 by March-end from the current 483.

Shares of the bank down 0.73% at Rs 129 in a weak Mumbai market.

Source: Business Standard