Karnataka Bank reported a rise of 29.16% in its profit. Last year the bank earned a profit of Rs 94.17 crore and this year it has went up to Rs Rs 121.63 crore. The bank has done very well in the banking business resulting in a gain of 29.16%.
Business turnover of the bank touched Rs 71,620 crore . The capital adequacy ratio stood at 13.05%.Apart from this bank is working to hire new employees. The bank has initiated process of recruiting another 920 personnel for the profile of officer and clerk.
The bank has plans to increase its network and business and in order to accomplish this bank will be establishing 75 new branches and 300 new ATMs during current year. At present the bank is servicing all over the country through 1,675 service outlets, consisting of 675 branches and 1000 ATMs.