Karnataka Bank targets Rs 5,515 cr agri loans in FY15

Bank to open 75 new branches across country this year, of which 29 will be in rural areas

Mangalore-based private sector lender Karnataka Bank is aiming at an agriculture advances portfolio of Rs 5,515 crore in 2014-15, which will make up more than 18 per cent of the total advances of the bank. In 2013-14, its share of agriculture loans stood at 14.6 per cent of the total advances of Rs 28,345 crore.

Presently, the bank has 10 agriculture development branches, 142 green branches and 51 agriculture field officers as dedicated resources for agriculture advances. During the present year, it plans to open 75 new branches across the country. Of this, 29 branches will be opened in rural areas so as to give further thrust to agriculture advances, said P Jayarama Bhat, managing director and CEO.

Speaking at the all India agri-business conference, organised by the bank, he said the bank would continue to organise Farmers’ Meet at potential centres and focus on agriculture subvention scheme to ensure agri credit at affordable rates. The bank involves Nabard and lead banks to conduct agri meets.

The bank is presently implementing “Business Process Re-engineering” (BPR) recommendations, which aims at high growth with superior quality across assets and liabilities, portfolio, and products and services.