Karnataka Bank to emerge as digital bank of future: CEO

The city-based leading private sector lender Karnataka Bank is poised to emerge as the 'digital bank of future' with end-to-end digital solutions for all its banking activities, bank CEO and managing director M S Mahabaleshwara said on Thursday.

Addressing the 97th annual general meeting at its head office here through video conferencing, he said powered by its IT-driven wholistic transformation 'KBL Vikaas,' the bank is now preparing for the second phase under 'KBL NxT' concept to have end-to-end digital solutions for all banking activities, according to a bank press release here.

The bank is celebrating its centenary year during 2023-24 and a lot of IT-driven innovative and far-reaching initiatives to mark the celebration are already lined up to lay a strong foundation for the second century of the bank, he said.

The bank has declared a dividend of 18 per cent at the meeting. The 97th AGM was presided over by bank chairman P Jayarama Bhat. All the directors of the bank, executives and shareholders participated through the virtual forum, the release said.