Media Release
Mangalore, May 3: Karnataka Bank has envisaged business growth of 25 per cent during the fiscal 2012-13 and to reach business turnover of Rs 65,000 crore said P Jayarama Bhat, MD and CEO of the bank while addressing the regional heads’ annual business conference of the bank held on Wednesday May 2.
He observed that the global economy has not gained the required momentum yet as a result country’s GDP is moderately projected at 7.30 per cent for 2012-13.
To give an impetus to the investment activity RBI has changed the repo and MSF rates which have given the required liquidity to the system and this has resulted in lowering of lending rates he noted.The uptick in GDP growth during FY 2012-13 is expected to be driven by a robust services sector growth he informed.
Further he said that the bank’s priority will be on retail segment with focus on CASA deposits by adding one million new clients and retail lending by concentrating on agri advances, MSME advances, gold loans etc. He advised the regional heads to closely monitor the credit portfolio in view of volatility in the market so as to keep up the health of advances and to avoid any slippage to NPA. In order to be stationary we have to run fast and we have to grow above the industry level to retain the market share he emphasized. He underlined that branches should consolidate business to sustain the growth and should focus on rendering top class service to its customers.
Bank has planned to open 50 new branches and 100 ATMs to take the service outlets to 1000, that is, branches 550 and ATMs 450. Bank is also committed to implement t the financial inclusion plan as per RBI/GOI guidelines by opening new branches in allocated villages.
Mahabaleshwara M S, general manager welcomed the participants and Upendra Prabhu N, M V C S Karanth and Dr Meera Arhana, general managers spoke on the occasion.
K G Ramesh Rao, deputy general manager, gave a presentation with facts and figures for the year ended March 31, 2012.
N R Ravishankar, assistant general manager proposed the vote of thanks.