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Mangalore: Despite of the global economic recession, Mangalore-based Karnataka Bank is aiming at a turnover of Rs 39,000 crore for the current fiscal, according to a top official of the bank.
Polali Jayaram Bhat, who had taken charge as Managing Director and CEO of the bank said that the bank proposes to pay a 60 per cent dividend in 2008-09. The bank has over 71,500 shareholders and a 3.8 million client base.
The bank projects a business turnover of Rs 39,000 crore with deposits of Rs 25,000 crore and advances of Rs 14,000 crore for FY 2009-10. By 2013, the bank plans to increase its turnover to Rs 70,000 crore, he said.
The bank has attained a business turnover of Rs 32,143 crore comprising deposits of Rs 20,333 crore and advances of Rs 11,810 crore as on March this year, Bhat said.
The bank, which came into existence in 1,924 and has 449 and 177 ATMs across 20 states and two Union Territories, plans to increase the number of branches to 475 and ATMs to 200, he informed.
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