Mangalore-based private sector lender Karnataka Bank is targeting a business turnover of Rs 78,000 crore comprising deposits of Rs 45,500 crore and credit of Rs 32,500 crore for the financial year 2013-14, P Jayarama Bhat, managing director, said.
Rolling out the business agenda for FY2013-14, he said the bank was aiming at a growth of over 27 per cent.
During 2012-13, the bank achieved a business turnover of Rs 61,300 crore comprising deposits of Rs 36,050 crore and advances of Rs 25,250 crore, showing a year-on-year growth of 14.05 per cent under deposits and credit growth of 21.62 per cent, he said.
The overall credit-deposit ratio (CD Ratio) stood at 70 per cent and incremental CD ratio for the year was 101 per cent. As on March 31, 2013, the bank had crossed 1,050 service outlets with 550 branches and 504 ATMs located across India.
During 2012-13, it opened 47 new branches, 1 extension counter and 152 ATMs.
The bank had introduced mobile banking and ASBA (application supported by blocked amount] facilities for its customers during the period.
Under the financial inclusion initiatives, it has opened 10 financial inclusion branches, 26 ultra small branches, 1 FLCC (financial literacy & credit counselling centre) thus providing banking services to 122 gram panchayats consisting of 591 villages through business correspondents services.
The bank has surpassed the priority sector target of 40 per cent, agriculture sector target of 18 per cent and weaker section target of 10 per cent, Bhat said.
