Mangalore-based Karnataka Bank is planning to close the current financial year with a total business of Rs 35,000 crore compared with Rs 27,858 crore in 2007-08, an increase of around 25 per cent, said Chairman Ananthakrishna.
The bank is also planning to open a represenatative office in West Asia, the first such office abroad, and ramp up the number of branches to 450 by the end of the current financial year.
As on December 2008, the bank’s total business stood at Rs 31,248 crore with deposits of Rs 19,260 crore and advances of Rs 11,988 crore. The bank is aiming to raise the deposits to Rs 21,000 crore and advances to Rs 14,000 crore.
The private sector bank had recorded a net profit of Rs 183.56 crore compared to Rs 180.96 crore for the nine-month period ended December 2008.
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