<p class="bodytext">Mahabaleshwara M S, Karnataka Bank managing director and chief executive officer (CEO), said that their business turnover target for the next financial year was Rs 1,44,000 crore, with a growth rate of 16%.</p>.<p class="bodytext">Mahabaleshwara highlighted the Bank’s business performance in the financial year 2018-19 and rolled out the agenda for the new financial year on Monday.</p>.<p class="CrossHead">Provisional figures</p>.<p class="bodytext">“As per the provisional figures for the financial year that ended in March 2019, the Bank has achieved a new business high of Rs 1,23,300 crore turnover. It has also registered a growth rate of 12% on a year-on-year basis. The advances of the Bank have increased from Rs 47,252 crore to Rs 54,883 crore in the financial year 2018-19, registering a growth of 16.1% (provisional) over the corresponding period of the previous year,” he listed out.</p>.<p class="CrossHead">Deposits</p>.<p class="bodytext">He added that the deposits of the Bank had grown from Rs 62,871 crore to Rs 68,459 crore in 2018-19, registering a growth of 8.9% over the corresponding period of the previous year. “The Bank has also posted a robust CD ratio of around 80.17% for the financial year 2018-19. As on March 31, 2019, the Bank has 836 branches spread across 22 states and 2 union territories. It plans to add 24 new branches and 70 new e-lobbies,” the MD informed.</p>.<p class="bodytext">He said the Bank intends to focus on increasing business in every branch and has budgeted Rs 1,44,000 crore business for the year 2019-20 with a growth rate of around 16%.</p>
<p class="bodytext">Mahabaleshwara M S, Karnataka Bank managing director and chief executive officer (CEO), said that their business turnover target for the next financial year was Rs 1,44,000 crore, with a growth rate of 16%.</p>.<p class="bodytext">Mahabaleshwara highlighted the Bank’s business performance in the financial year 2018-19 and rolled out the agenda for the new financial year on Monday.</p>.<p class="CrossHead">Provisional figures</p>.<p class="bodytext">“As per the provisional figures for the financial year that ended in March 2019, the Bank has achieved a new business high of Rs 1,23,300 crore turnover. It has also registered a growth rate of 12% on a year-on-year basis. The advances of the Bank have increased from Rs 47,252 crore to Rs 54,883 crore in the financial year 2018-19, registering a growth of 16.1% (provisional) over the corresponding period of the previous year,” he listed out.</p>.<p class="CrossHead">Deposits</p>.<p class="bodytext">He added that the deposits of the Bank had grown from Rs 62,871 crore to Rs 68,459 crore in 2018-19, registering a growth of 8.9% over the corresponding period of the previous year. “The Bank has also posted a robust CD ratio of around 80.17% for the financial year 2018-19. As on March 31, 2019, the Bank has 836 branches spread across 22 states and 2 union territories. It plans to add 24 new branches and 70 new e-lobbies,” the MD informed.</p>.<p class="bodytext">He said the Bank intends to focus on increasing business in every branch and has budgeted Rs 1,44,000 crore business for the year 2019-20 with a growth rate of around 16%.</p>