Karnataka Bank plans to achieve 17.69 percent growth in its centennial year to take its total business turnover to Rs 1,75,000 crore in 2023-24, its CEO and Managing Director MS Mahabaleshwara said.
Addressing employees of branches and offices across the country in the new financial year from the Mangaluru head office via virtual mode on Friday, he outlined the strategy and broad plan of action for the year 2023-24.
As per provisional numbers, the bank’s business turnover grew by 7.63 percent to Rs 1,48,694 crore, comprising deposits of Rs 87,362 crore and advances of Rs 61,326.00 crore, he said.
“We navigated the financial year fairly well, defying the adverse impact of global developments such as sustained growth in liabilities and assets, prudent asset liability management, rising interest rates and the Ukraine war,” he said.
