Karnataka Bank MD and CEO M.S. Mahabaleshwara addressing colleagues from throughout India throughout the starting of the brand new monetary yr on April 1, 2023.
Having achieved ₹1,48,694 crore business in 2022-23, Karnataka Bank has set a goal of ₹1.75 lakh crore for the present monetary yr, which interprets right into a development of 17.69%.
Addressing staff on April 1, starting of the brand new monetary yr, via digital mode from Mangaluru, financial institution Managing Director and CEO M.S. Mahabaleshwara mentioned, “As per the provisional numbers, the business turnover of the bank stood at ₹1,48,694 crore with a growth rate of 7.63% consisting of deposits of ₹87,362 crore and advances of ₹61,326.00 crore.”
The whole CASA deposits stood at 32.97% of whole deposits as on March 31, 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 after-effects of global developments like rising interest rates, Ukraine war etc.”
Stepping into the one hundredth yr of service, the financial institution has launched a year-long centennial celebrations. Mr. Mahabaleshwara is assured that the financial institution is ready to emerge as a robust, vibrant and energetic digital financial institution powered by accelerated new transformation journey — KBL-Nxt — that may propel the financial institution to new heights of development, .
Executive Director Sekhar Rao mentioned the financial institution’s efficiency was passable underneath the given macro-economic state of affairs. The financial institution would strengthen operational ratios in the approaching quarters given its strong fundamentals, good IT infrastructure and the hygiene of the credit score portfolio.
Chief Operating Officer Y.V. Balachandra and Chief Business Officer Gokuldas Pai participated in the video-conference.
