Mangalore: Jayaram Bhat Assumes charge as CEO of Karnataka Bank
Daijiworld Media Network - Mangalore
Pics by Prajwal Ukkuda
Mangalore, Jul 14: P Jayarama Bhat has assumed charge as the new Managing Director and CEO of Karnataka Bank from Jul 14, 2009. This was announced at a press conference in the city. Hitherto he was serving as the Chief General Manager of the Bank.
Addressing the press conference M D and CEO Jayarama Bhat revealed that the bank proposes to pay a dividend of 60% for the year 2008-2009. The bank has achieved a business turnover of Rs. 32,143 crores by the end of March 2009. This turnover comprised deposits of Rs. 20,333 crore and advances to the tune of 11,810 crore. The bank has earned a net profit of Rs. 267 crores in the same period.
He said that the bank has projected a business turnover of Rs. 39,000 crore with deposits of Rs. 25,000 crores and advances to the tune of 14,000 crore for the current financial year 2009-10.
He also stated that the bank has come a long way since its inception in 1924 emerging as the largest private sector banks in the country. The bank has 449 branches spread across 20 states and 2 union territories. The bank has set a target of increasing the number of branches to 475 and its own ATMs to 200 by the end of March 2010.
Karnataka Bank as a strong client base of over 3.8 million and has 71,800 shareholders. The manpower strength of the bank stands at 4900.
General Manager K S Shivaswamy Ithal , P Jayarama Hande, B Ashok Hegde and N Upendra Prabhu were also present at the press conference.