Karnataka Bank to open 30 new branches

Staff Correspondent

BANGALORE: The Mangalore-based old generation private bank, Karnataka Bank, will apply for another 30 new branches with the Reserve Bank of India in a bid to take its number of branches above 500 by the end of this fiscal.

Speaking to The Hindu on the sidelines of a programme for shifting its overseas branch at St. Mark’s Road in Bangalore on Friday, chairman of the bank Ananthakrishna said that the bank had 431 branches in the country.

Stating that the bank had achieved a turnover of Rs. 28,000 crore in the last fiscal, Mr. Ananthakrishna said that efforts were being made to reach a turnover of Rs. 35,000 crore this fiscal.

“The bank has a deposit-base of Rs. 21,000 crore and its advances stood at Rs. 14,000 crore. The bank enjoys a Credit Reserve Ratio of 12.17 per cent and a Non Performing Asset of less than 1 per cent,” he said.

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