Karnataka Bank has intended to focus on increasing business per branch and budgeted Rs 1,44,000 crore business for the year FY20 with a growth rate of around 16%. In FY19, the bank has achieved a new business high of Rs 1,23,300 crore business turnover registering a growth rate of 12% on year-on-year basis.
The deposits of the Bank also grew from Rs 62,871 crore to Rs 68,459 crore in the FY19 registering a growth of 8.9% over the corresponding period of the previous year.
Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.
