Bhubaneswar: Karnataka Bank expects to post Rs 1,500 crore of business in Odisha with a growth rate of 50 per cent in this financial year, said MS Mahabaleshwara Bhatt, MD and CEO of the bank, Friday.
“Our total turnover in Odisha was Rs 1000 crore in FY’19 but now we hope to reach Rs 1500 by the end of current financial year. Last year, out of total business, the deposits were Rs 400 crore and advances were Rs 600 crore. We lent loans more than deposits at the ratio of 115 per cent,” Bhatt said.
The bank’s total assets across the country were pegged at Rs 1.23 lakh crore in FY’19. Bhatt claimed that the bank is eying to reach Rs 1.40 lakh crore this financial year at a growth rate of 17 per cent.
Bhatt was here in city to launch a new digital e-lobby facility at Saheed Nagar branch. The new facility will provide the services of both despites and withdrawal along with pass book printing facility. At present, the bank has around 350 e-lobbies across the country.
Speaking about expansion in Odisha, Bhatt stated that the bank will open two more branches in Patia and Balasore this year.
The bank is also planning to introduce tabloid banking. “Under the tabloid banking, our officers would go to customers’ at their convenient residences to provide banking and credit facilities. We will be sanctioning housing loans in 20 minutes,” he said.