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Mangalore: Karnataka Bank Chairman Ananthakrishna Begins 8th Year of Tenure

Daijiworld Media Network - Mangalore (MB)
Inputs from media release

Mangalore, Jul 13: Karnataka Bank chairman Ananthakrishna completed 7th year in office on July 12, 2007.

Ananthakrishna,  who has already completed two three-year terms, is stepping into the second year of his third term for 3 years as chairman and chief executive officer of the country’s premier private sector bank on July 13, 2007.

Over the last seven years, the bank registered all round progress. It has more than trebled its business to reach a new high business turnover of over Rs 23,500 crore (deposits Rs14,037 crore and advances Rs 9,553 crore) as on March 31, 2007 from Rs 7625 crore 7 years back.

The net profit of the bank zoomed to Rs 177.03 crore from Rs 40.71 crore seven years earlier. The net NPA of the bank for the year 2006-07 has come down to 1.22 per cent. The net owned funds of the bank touched Rs 1239 crore mark at the end of March 2007. The Capital Adequacy Ratio stood at 11.03 per cent. Bank’s market capitalization rose to Rs 2080 crore from Rs 85 crore seven years back.

The number of branches of the bank rose to 411. All the branches of the bank have been networked under CBS “FINACLE”. As a result, 100% of bank’s business is run on CBS. While continuing its consistent dividend payment tradition, the bank paid dividend of 35% for the year 2006-07.

During his tenure as chairman, the bank entered into various areas like introduction of Visa International debit cards, introduction of ATM outlets, sharing of bank’s ATM outlets, distribution of insurance products of MetLife Insurance India Pvt Ltd, a US-parented company, Bajaj Allianz for general insurance business, pact for non-life joint venture with Universal Sompo General Insurance Company Limited, Internet banking, Demat services. distribution of Mutual Fund products.

Widely travelled in India and abroad, he is currently the president of the Bankers’ Club, Mangalore. He has several prestigious awards to his credit.

Under his leadership the bank which is eyeing business turnover of Rs 28,500 crore for the year 2007-08 is well poised to witness greater heights of glory.

About Ananthakrishna

A seasoned banker with over three decades of experience, he is a post graduate in mathematics from Mysore University.  He began his career as an academician and later worked as a junior programmer in the computer services department of Hindustan Aeronautics Ltd. (HAL), Bangalore.

He joined the Karnataka Bank Ltd. as officer trainee in 1971.  He gained his initial experience at the operational level and thereafter played a key role at the corporate level in important areas like treasury and accounts, corporate taxation, information technology and credit management.  He became the chief general manager of the bank in 1998 with the overall responsibility of the operations of the bank.

He assumed the office of chairman of the bank in July 2000.  He has since introduced and implemented various schemes, systems and procedures which have been instrumental in improving the business, productivity and quality of service.

His friends and well-wishers all over the world can greet him at :


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Comment on this article

  • Melwyn Lobo, Bejai

    Wed, Jul 18 2007

    I stay in the same apartment,as Shri.Anant Krishna.I have seen him for the past 2 years.Although his position allows him to live in a better and posh place,he is lives a simple life.I and My family highly appreciate the way he deals with all the people in the apartment block where we are staying.  wish him all the best in his third term as Chairman of Karnataka Bank Melwyn& Rita Lobo

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  • Kadengodlu Shankara Bhat, Peruvai Village / Res: UAE & Kazakhstan

    Tue, Jul 17 2007

    Mr. KS Mayya has already echoed my comment. Just to add, Shri Ananthakrishna is a simple and easily approachable man in spite of his high position, as I found him. On many ocassions, I have told my bankers [Canara] to follow his footsteps. In fact, if GoI appoints him as Consultant with full powers to oversee & improve the working of all buraucratic nationalised banks in India, may be as Governor of Reserve Bank, it would be boon to miillions of account-holders in nationalised banks in India.

    To summarise, I can say that his talent is under-utilised by our country, as I have seen him from my childhood in his Shyanbog [village Accountant] father's house in BC Road. I still remember playing cricket with him, his younger brothers Jagadish/ Srininvas, etc.

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  • Ananda P., Hejamady/Mumbai

    Sun, Jul 15 2007

    I am truely a fan of this great personality. The ladder in which, he climbed to this position is really amazing. He has brought the bank out from the trouble. Now the bank is one among the major & healthy banks in the Indian Banking Industry. All the best for him & his team.

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  • K. S. Mayya, Mangalore/South Korea

    Fri, Jul 13 2007

    Heartiest congratulations to Shri Ananthakrishna. And may I thank Daijiworld for this information too I hear that Shri Ananthakrishna rose to this level under challenging family circumstances. Of course nobody other than his close circle would know this. I am sure he will be a source of inspiration to many from the younger generation. Not to mention Dhakshina Kannada in particular will be very proud too.

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