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 of Rs 64,500 crore and advances of Rs 45,500 crore, a top bank official said here.

Managing Director and Chief Executive Officer of the bank P Jayarama Bhat highlighted its performance during the financial  year 2016-17 and rolled out the business agenda for the new fiscal. As on March 31, 2017, the bank has 2,145 service outlets comprising of 765 branches and 1,380 ATMs across the country.

The bank also has 110 e-lobbies and mini e-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 the banking industry in the country.

The growth outlook for 2017-18 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.