Karnataka Bank targets Rs 1,10,000 crore turnover for 2017-18

The city-based Karnataka Bank,a premier private sector bank in the country, is targeting a business turnover of Rs 1,10,000 crore in 2017-18 fiscal.
It was eyeing deposits ofRs 64,500 crore and advances of Rs 45,500 crore, a top bank official said here yesterday.
Managing Director and Chief Executive Officerof the bank PJayarama Bhat highlighted its performance during the financial year 2016-17 and rolled out the business agenda for the newfiscal.
As on March 31, 2017, the bank has 2,145 serviceoutlets comprising of 765 branches and 1,380 ATMs across the country.
The bank also has 110 e-lobbies and minie-lobbies.
He said 2016-17 was a year of 'satisfactory' growth considering the prevailing economic conditions in the global and domestic economies and the impact of demonetisation on thebanking industry in the country.

The growth outlook for2017-18 was positive and the bank should be able to utilise all its growth opportunities, Bhat said.

He said the bank would open 35 new branches including nine financial inclusion branches to take its tally to 800 branches by March 2018.
The number of ATMs would be increased from the present level of 1,380 to 1,450.
During last year, the bank had rolled out several innovative technology-based products like co-branded credit cards in collaboration with SBI Card and RuPay International Debit card.
The bank had also introduced National PensionScheme besides tying up with BajajAllianz for distribution of General Insurance products, a bank press release here said.