Daijiworld Media Network – Mangalore (SP)

Mangalore, Apr 2: Addressing the executives and staff members at the bank’s head office in the city on Friday April 1, Karnataka Bank managing director, P Jayaram Bhat, said that the bank has set before itself an ambitious target of Rs 54,000 crore under total turnover for the coming year 2011-12. Laying bare the bank’s plan for a planned growth next year in different segments, he informed that bank’s target under deposits will be Rs 32,500 crore, and under advances, Rs 21,500 crore.

While complimenting the bank employees for their wholehearted efforts and involvement, which have enabled the bank to register satisfactory growth in key areas in the year 2010-11, he also thanked the customers, shareholders, well-wishers and directors of the bank for their contribution to the bank’s growth.

Bhat revealed, that the bank proposes to open its tenth regional office in Kolkata in the coming year. In addition, plans are also afoot to open a financial literacy and counselling centre in Karnataka, he said. He also spelt out the bank’s plan to join the central government’s financial inclusion programme, ‘Swabhiman’, during the coming year.

Bhat informed that the bank had opened 14 new branches in the financial year 2010-11, adding that the bank’s target is to cross 500-mark under total number of branches by March, 2012. He revealed that the bank also wants to increase the number of ATMs to over 325 from the existing strength of 267.

General managers, K Shivaswamy Aithal, P Jairama Hande, N Upendra Prabhu, B Ashok Hegde, and M V C S Karanth, were present. Video-conferencing facility was put in place to enable all the nine regional offices of the bank across the country to watch the programme live.