Karnataka Bank comes to Guwahati

Guwahati, Jun 25 (UNI) Mangalore-based Karnataka Bank Ltd will open its 397th branch at Guwahati tomorrow.

Bank's assistant general manager (regional head) M S M Bhat while disclosing this at a press conference said the 82-year-old bank will open another 17 new branches across the country during the current financial year.

The bank, with its turn over of over Rs 21,000 crore comprising of deposits of Rs 13243 crore and advances of Rs 7792 crore as on March 31, 2006, has client base of more than 2.7 million with over one lakh share holders, he said.

Mr Bhat said the first generation bank with new generation technology has been showing consistent growth in profitability and made all time record net profit of Rs 176 crore during 2005-06 fiscal. The net NAPs of the bank was at an all time low of 1.15 per cent.

Karnataka Bank was the first among the old generation private sector banks adopted new generation Core Banking Solutions (CBSs) with Networking of about 325 branches. The bank has also introduced the technology based services like International Visa debit Card, Internet Banking and Demat services.

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