Daijiworld Media Network – Mangalore (SB)

Mangalore, Oct 25: City-based premier private sector bank, Karnataka Bank Ltd has posted a net profit of Rs 56.41 crore for the half year ended September 2009. 

On a year on year basis from September 08 to September 09, the deposits of the bank has grown from Rs 18,842 crore to Rs 21,582 crore. Advances grew from Rs 11,933 crore to Rs 12,847 crore. The capital adequacy ratio as at September 2009 stood at 12.93 per cent. CASA deposit of the bank registered increase and the same stood at 22.52 per cent as compared to 19.95 per cent at the end of March 2009.

Bank which has a target of business turnover of Rs 39,000 crore for the current fiscal has already crossed Rs 34, 000 crore mark. As on date, the number of branches stood at 456 branches and all of them are brought under Core Banking Solution facilitating ‘Anytime/Anywhere’ Banking.

The Bank which has target of 475 branches by the end of the current fiscal has already opened branches at Patna (Bihar), Tambaram, Vellore (Tamil Nadu), Dhanbad (Jharkhand), Kolkata-Bhowanipore, Kanakapura, Naganathapura, Gundlupet (Karnataka) and New Delhi-Ashok Vihar. The bank will shortly open branches at Ujjain (Madhya Pradesh), Bramhapura (Orissa) Chennai-Annanagar (West) Kancheepuram (Tamil Nadu), Serilingampalli (Andhra Pradesh), Mumbai-Dadar (West), Durg (Chattisgarh), Ghaziabad (Uttar Pradesh). The bank also has 192 ATMs at present and is planning to increase the same to 200 by this financial year end, stated bank’s planning and development department in a press release.