Karnataka Bank to open 75 new branches in 2014-15

 Private sector Karnataka Bank will open 75 new branches, including 21 Financial Inclusion Branches during the current fiscal (2014-15), as well as 300 new ATMs to increase its total number of service outlets to 1,675 by the end of March 2015.

Jayarama Bhat, MD & CEO of the bank, said on Wednesday that the bank is targeting total business turnover of Rs 83,000 crore comprising deposits of Rs 48,000 crore and advances of Rs 35,000 crore during 2014-15, 

The bank envisages overall growth of 20.30 per cent in business during 2014-15. As on March 31, 2014, the bank operated 1,300 service outlets comprising 600 branches and 700 ATMs across India. During 2013-14, the bank opened 50 new branches and 196 ATMs. Further, as part of its financial inclusion initiative, the bank opened 13 financial inclusion branches apart from 17 ultra small branches in unbanked rural centres during the year.

“We are also looking at rolling out innovative technology-based products to suit the changing profile of our customers such as e-lobby, online account opening, mobile PoS, missed call solutions, e-KYC, revamping our Internet banking service, collaborating with international financial intermediaries for offering inbound remittance facilities to NRIs, among others”, Jayarama Bhat said.