NEWS & ADVICE : SAVINGS ACCOUNTS
Karnataka Bank aims at growing its retail advances, CASA segment
By Neelima Shankar
Jan 29, 2013
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Karnataka Bank has planned to grow its retail loans and current account and savings account (CASA) segment in the remaining period of the ongoing fiscal.

 It plans to grow its CASA segment deposits to 27 percent of the total deposits, by the end of March 2013.

On the matter, the Managing Director and Chief Executive Officer of Karnataka Bank, Mr. P. Jayarama Bhat said that the bank's CASA deposits currently stand at 23.4 percent (reported in Q3). CASA deposits were reported at Rs. 8114 crore in this quarter, as compared to Rs. 7138 crore in the same period of the last year. He added, "We want to increase the share of CASA deposits to 27 per cent by the end of the current fiscal."

Apart from its plans to mobilize about 4 lakh CASA deposits, the consistent returns on retail segment loans has led the bank to increase its focus in this segment. He further added that the bank plans to grow its home loans and auto loans to increase business in its retail portfolio.


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