News Karnataka
Tuesday, December 05 2023

Karnataka Bank’s CEO outlines new milestones for its Centenary

Karnataka Bank's CEO outlines new milestones for the Centenary
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Mangaluru: Shri Mahabaleshwara M.S, MD & CEO of Karnataka Bank addressed the staff members of branches and offices across the country on April 1, 2023 from the Head Office through virtual mode and outlined the blueprint of the strategies and broad plan of action for the new financial year 2023-24. 

Addressing the staff members, the CEO said, “As per the provisional numbers, the business turnover of the Bank stood at Rs 1,48,694 crore with a growth rate of 7.63 per cent consisting of deposits of Rs 87,362 crore and advances of Rs 61,326.00 crore. The total CASA deposits now stand at 32.97 per cent of total deposits as of 31-03-2023. We have navigated the financial year fairly well by exhibiting sustainable growth in liabilities and assets, prudent asset liability management and robust risk management practices negating the adverse aftereffects of global developments like rising interest rates, the Ukraine war etc. For the new financial year, Bank has planned to grow its business at 17.69 per cent to take the total business turnover to Rs 1,75,000.00 crore. 

   Speaking further the CEO said, “Karnataka Bank has stepped into its 100th year of purposeful service to the nation on Feb 18, 2023 and this is a historical moment in the annals of the Bank. On this joyous occasion, the Bank also launched a year-long Centennial Celebration. Powered by accelerated new transformation journey KBL-NxT that will propel the Bank to new heights of growth, I am happy to share with you all that, KBL is all set to emerge as a  Strong, Vibrant, Energetic Digital Bank.” 

Shri Sekhar Rao, Executive Director, also addressed the staff members and said “The performance of the Bank for the year gone by has been satisfactory under the given macro-economic scenario. Bank is poised to strengthen its operational ratios in the coming quarters given its solid fundamentals, good IT infrastructure and the hygiene of the credit portfolio. With inflation softening and a favourable Central Budget for the fiscal year, it is good news for the Indian Economy and we shall collectively resolve to set new benchmarks of performance in the Centenary Year delivering value for all stakeholders”

Also present on the occasion were Shri Balachandra Y V, Chief Operating Officer, Shri Gokuldas Pai, Chief Business Officer, General Managers, other executives and staff members of the Head Office.

Read more:

KBL & Paisalo Digital join forces to expand access to credit

KBL’s “Strings Attached”: A Night of Carnatic Music Splendor

Karnataka Bank wins ‘Prathista Puraskar – Digidhan Award’

KBL Consolidated Q3 Net Profit Up 105.32 % to Rs 300 Crores

KBL opens new premises of Corp Finance Branch in New Delhi

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