Karnataka Bank eyes Rs 78,000 cr business in 2013-14

Private sector lender Karnataka Bank is eyeing a total business turnover of Rs 78,000 crore during the current financial year and is also looking to expand its service footprint to 1,200 outlets across the country.

Also Read: BNP Paribas sells 12.75 lakh shares of Karnataka Bank

"The bank, in its 90th year, is eyeing a business turnover of Rs 78,000 crore (deposits of Rs 45,500 crore and advances of Rs 32,500 crore) for the current fiscal", the Mangalore-based bank in a statement said.

Besides, the bank also plans to increase its service outlets to 1,200 from the present 1,097 outlets across the country by the end of this financial year.

The bank also said it recently bagged the Institute for Development and Research in Banking Technology Excellence Awards for 2012-13 under the category of 'Best Bank Award' for managing IT risks and for the use of IT in business innovation.

RBI governor D Subbarao presented the awards to Karnataka Bank managing director and CEO P Jayarama Bhat at a function held in Hyderabad recently, it added.