The bank targets advances of ₹570 billion for 2018-19:
Karnataka Bank has reported its highest ever quarterly profit at Ì€ 1.63 billion, registering a growth of 22% in Q1,2018-19. The growth in advances is 24.28% at ₹477.31 billion in the quarter. The bank has recorded 28.36% annual loan growth in 2017-18, having outstanding balance of ₹482.45 billion, with 445,200 accounts. The total business turnover crossed the milestone of Rs1 trillion and stood at Ì€ 1.101 trillion as on 31 March 2018, which represents a yoy growth of 17.59%.
According to the bank’s MD and CEO Mahabaleshwara MS, retail loans formed 45% of the total advances, while agriculture sector accounted for 12.12%, micro small enterprises sector for 20.01%, medium enterprises sector for 3.16%, housing sector for 12.10% and other personal loans 5.49%.
Says he: “During the last financial year, the housing sector under the retail loan segment has recorded higher yoy growth of 16.60%. This is because we had launched a special campaign for housing loans, which resulted in accelerated credit flow to the sector. The bank tied up with 5 builders during 2017-18 and the demand is yet to pick up.”
The bank finances SMEs to meet their working capital requirements and offers term loans to acquire plant and machinery. Mahabaleshwara is of the view that SMEs do not make much investments in information technology to drive productivity.
SOUTH FOCUSED
The bank has deep penetration in the southern states. In total, it has 622 branches as at the end of 2017-18 in these states. Region-wise, the bank has maximum number of retail borrowers in Mysore, corporate borrowers in Delhi, MSME borrowers in Shivamogga and agriculture borrowers in Mysore.
هذه القصة مأخوذة من طبعة August 2018 من Banking Frontiers.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة August 2018 من Banking Frontiers.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Finance gears up for festivities
BFSI companies are charging their online and omnichannel strategies with personalized festive deals this season:
Non-cash transactions can touch a phenomenal level by 2028
Capgemini Research Institute’s World Payments Report 2025 highlights the era of account-to-account an instant payments:
The Confluence of Artificial Intelligence and Cybersecurity: AI as the Game Changer
In an increasingly interconnected world, safeguarding our digital assets has become paramount. Enter the dynamic duo: Cyber security and Artificial Intelligence (AI).
A new trinity in digital lending space
Three platforms in the lending space are poised to change the way lenders offer credit and borrowers access funds in India:
Finance gears up for festivities
BFSI companies are charging their online and omnichannel strategies with personalized festive deals this season:
Small MFI, International Engagements
Mitrata Inclusive Financial Services in the midst of transformation growth
MFIs: Big Impact Big Changes,
Even as MFIs are fueling economic growth for the underprivileged, what is interesting is that they are transforming themselves in areas like HR, technology, funding, leadership, collections, and more. Banking Frontiers presents the initiatives and initiatives at 9 such organizations:
Climate Risk Forum for CROS
Excerpts from a discussion on shaping the future of climate change resilience in India:
Seamless Supply Chain Finance
Deep insights emerge from this fireside chat at NBFC's Tomorrow Conclave.
Star Health sees strong demand from the IT sector
Biju Menon, Chief Business Officer at Star Health Insurance, looks at the evolution of employee health insurance from multiple perspectives:
