Karnataka Bank targets 20.3% business growth in 2014-15

Mangalore-based private lender Karnataka Bank is targeting an overall business growth of 20.30 per cent for 2014-15 with a turnover of Rs 83,000 crore.
"Karnataka Bank...Is targeting a business turnover of Rs 83,000 crore comprising deposits of Rs 48,000 crore and advances of Rs 35,000 crore for the financial year 2014-15," it said in a filing to the BSE.
In 2014-15, the bank intends to open 75 new branches, including 21 financial inclusion branches, and 300 new ATMs, Karnataka Bank Managing Director and Chief Executive Officer P Jayaram Bhat said.
He said that the bank targets an overall business growth of 20.30 per cent in FY15.

"We also aim at rolling out innovative technology based products to suit changing profile of our customers," he said.
Shares of Karnataka Bank rose by 3.78 per cent to close at Rs 120.80 apiece on the BSE today.