Media Release

Udupi, Mar 27: Karnataka Bank, which has recently reached milestone business of Rs 50,000 crore is all set to achieve another milestone. This time it is in terms of number of branches. With the opening of a new branch at Shiroor, scheduled for Thursday March 29, here, the bank is all poised to reach “500 Branch” milestone.

It is quite natural that, in line with its rural orientation, right from its inception in 1924, the bank has preferred a rural centre for its landmark 500th branch. The 500th branch will be inaugurated by A G Kodgi, chairman, task force for implementation of Third Finance Commission Report, government of Karnataka, in presence of P Jayarama Bhat, managing director of the bank and Ananthakrishna, chairman of the bank.

The full fledged new branch at Shiroor will cater to large number of rural hamlets and is connected to Core Banking Solution of Bank. The branch will also provide all types of deposit solutions, loans solutions including education loans, farm loans, SME loans, etc. The new branch will also have an onsite ATM to ensure 24X7 banking.

In its recently concluded major customer acquisition activity called “CASA Campaign” (Current Accounts and Savings Accounts), the bank has successfully canvassed over 3.90 lac new clients across India. With this the customer base of Karnataka Bank has swelled to 50 lakhs. Further the BPR (Business Process Re-engineering) initiative of the bank in association with KPMG is progressing well and pilot project is already launched in selected Branches to focus on ‘Customer Segmentation’ ‘Speedy Credit Decision’ and ‘Credit Prioritation”.