Stock Report

Karnataka Bank achieves historic high of 32.97% CASA deposits as on March 31, 2022

Posted On : 2022-04-01 22:34:38( TIMEZONE : IST )

Karnataka Bank achieves historic high of 32.97% CASA deposits as on March 31, 2022

Shri Mahabaleshwara M.S, MD & CEO, of Karnataka Bank addressed the staff members of branches and offices across the country on April 1, 2022 from the Head Office, Mangaluru through virtual mode. Apart from reviewing the year gone by, Mr. Mahabaleshwara M.S, outlined the blueprint of the strategies and broad plan of action for the new financial year 2022-23.

Addressing the staff members, Shri Mahabaleshwara M.S said, "As per the provisional numbers Bank has achieved an historic high of 32.97% CASA deposits as on 31-03-2022. The business turnover of the Bank stood at Rs 1,38,111.00 crore with a growth rate of 7.59% consisting of deposits of Rs 80,385.00 crore and advances of Rs 57,726.00 crore as per the provisional figures. The advances has registered a growth rate of 9.48% as per the initial estimates. We have navigated fairly well after having a full year affected by COVID. Policy level support from the GOI to promote manufacturing through PU schemes, encouragement for green economy are good indicators signaling future growth prospects of the country even as we navigate risks of war and increasing interest rates from external world. For the new financial year, Bank has initially planned to grow its business at 14% to take the total business turnover to Rs 1,57,500 crore and a final call will be taken after getting the audited numbers.

Speaking further he said "After successfully implementing the first phase of the transformation journey under KBL-VIKAAS 1.0 by rolling out digital under writing of Retail Loan products with a turnaround time that is amongst the best in the industry, Bank is now focusing on taking the digital initiatives to the next level by focusing on 'KBL NxT' concept under wave 2.0. to evolve as 'Digital Bank of Future'. Key focus areas are ~nalytics, Chatbots, AI & ML, Account Aggregators, Neo Banking, Trade Finance Automation, opening of digi centres across the country etc. With digital initiatives powering this journey, we shall collectively strive to make this year an "Year of Business Excellence" and digitise all aspects of Banking as we inch close to Centenary Year of Bank's purposeful existence."

Also present on the occasion were Shri Balachandra Y V, Chief Operating Officer, Shri Gokuldas Pai, Chief Business Officer, General Managers, other executives and staff members of the Head Office.

Shares of The Karnataka Bank Limited was last trading in BSE at Rs. 57.55 as compared to the previous close of Rs. 55.40. The total number of shares traded during the day was 123446 in over 1119 trades.

The stock hit an intraday high of Rs. 57.70 and intraday low of 55.70. The net turnover during the day was Rs. 7046682.00.

Source : Equity Bulls


TheKarnatakaBank INE614B01018 BusinessREview FuturePlan CASADeposits