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Karnataka Bank inches up on plans of opening 120 ultra-small branches by March 2014

18 Mar 2013 Evaluate

Karnataka Bank is currently trading at Rs 143.05, up by 0.85 points or 0.60% from its previous closing of Rs 142.20 on the BSE.

The scrip opened at Rs 141.50 and has touched a high and low of Rs 143.65 and Rs 138.20 respectively. So far 498886 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 198.80 on 11-Dec-2012 and a 52 week low of Rs.70.80 on 04-Jun-2012.

Last one week high and low of the scrip stood at Rs 148.75 and Rs 136.05 respectively. The current market cap of the company is Rs 2702.63 crore.

The Institutions holding in the company stood at 25.69 % while Non-Institutions held 74.31% respectively.

Karnataka Bank will open 120 ultra-small branches (USBs) by March 2014, as part of its rural outreach and financial inclusion programme. The bank has so far opened 18 USBs and is in process of opening another eight branches by March 31, 2013. With this, the bank is planning to close the current financial year with 26 USBs. The bank has also planned to open another 94 USBs for 2013-14. With this, the total number of USBs will be 120 by March 2014.

Under its financial inclusion initiatives the bank is taking up the activities in 205 gram panchayats covering 1,002 villages. With this, the bank plans to reach out to over 2.10 lakh households in 1,002 villages with a total population of 10.51 lakh.

Karnataka Bank is an old private sector bank which was set up in 1924. The bank had 527 branches and 409 ATMs spread across 20 states and 2 UTs across the country. Majority of the branch network is in the state of Karnataka.

Karnataka Bank Share Price

246.60 0.15 (0.06%)
17-Apr-2026 16:59 View Price Chart
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