Date:02/04/2008 URL: http://www.thehindubusinessline.com/2008/04/02/stories/2008040252210600.htm

Back Karnataka Bank’s business target

Our Bureau

Mangalore, April 1 Karnataka Bank Ltd is eyeing a business turnover of Rs 35,000 crore for 2008-09, according to Mr Ananthakrishna, Chairman and Chief Executive Officer of the bank. A bank release said here on Tuesday that Mr Ananthakrishna informed this while addressing the staff members at the bank’s head office in Mangalore on Tuesday.

He unveiled the roadmap for the financial year 2008-09 with incremental business growth of Rs 7,200 crore comprising of Rs 4,200 crore of deposits and Rs 3,000 crore of advances to reach the business turnover of Rs 35,000 crore (Rs 21,000 crore deposits and Rs 14,000 crore advances) by March 2009.

The bank, which opened 21 branches during 2007-08, intends to take the total number of branches to 460 by the end of March 2009. It bank plans to install 40 more ATMs.