Karnataka Bank, Mangalore based lender is planning to increase its existence in the eastern region by inaugurating 504th branch of the bank in the country at Bhubaneswar in Odisha on June 18, 2012. In the current financial year, it is also likely to add 50 more branches.
The bank has decided to open branches at Jamshedpur, Asansol and one more branch in Kolkata City in the eastern region. Currently, it has presence in six eastern states that are, West Bengal, Assam, Bihar, Jharkhand, Chhattisgarh and Odisha.
The bank has recorded a growth of 86.71% in net profit quarter ended December 31, 2011 at Rs 72.05 crore as against Rs 38.59 crore in the corresponding period of the previous fiscal. Total income of the lender rose by 32.5% to Rs 882.72 crore during the October-December quarter, against Rs 668.45 crore in the same period last year.
