Bhat takes charge as Karnataka Bank MD

Bhat takes charge as Karnataka Bank MD

Speaking to media persons after assuming his new position here on Tuesday, Bhat said that the Karnataka Bank has witnessed steady progress under his predecessor Ananthakrishna and that he would strive to add to it.

Answering some queries, Bhat said that the bank has achieved a business turn over of Rs 32,143 crore comprising deposits of Rs 20333 crores and advances of Rs 11810 crores as on the end of March 2009. The net profit of the bank is Rs 267 crores and proposes to pay a dividend of 60 per cent for the year 2008-09. The projected turn over for the financial year 2009-10 is Rs 39,000 crores with deposits of Rs 25,000 crores and advances of Rs 14,000 crores, he added.

The bank that came into existence in 1924 has 449 branches in across 20 states and 2 union territories as of now. By the end of March 2010, the bank plans to increase the number of branches to 475 and ATMs from 177 to 200, Bhat informed.

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