Karnataka Bank plans to open 75 new branches and 300 new ATMs during current year, thus aiming for 1,675 service outlets, consisting of 675 branches & 1000 ATMs. During the Current Financial Year, the bank has already opened 36 branches and 127 ATMs taking the tally of service outlets to 1,463 with 636 branches and 827 ATMs.
The bank also plans to introduce e-lobbies shortly. The bank is eyeing a business turnover of Rs 80,000 crore for the year 2014-15 comprising of deposits of Rs 47,000 crore and advances of Rs 33,000 crore.
The bank has registered a marginal gain of 0.22% in its net profit at Rs 106.94 crore for third quarter ended December 31, 2014 under review as compared to Rs 106.70 crore for the same quarter in the previous year. Total income of the bank has increased 17.09% at Rs 1364.69 crore for Q3FY15 as compared Rs 1165.54 crore for the corresponding quarter previous year.
Gross non-performing assets (NPAs) improved to 3.44% in the October- December quarter as against 3.65% in the same quarter previous year, while net NPAs stood at 2.41%.
