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.
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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.
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