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Karnataka Bank to focus on retail growth in FY12

Karnataka Bank to focus on retail growth in FY12
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First Published: Tue, Jun 28 2011. 03 42 PM IST
Updated: Tue, Jun 28 2011. 03 42 PM IST
Mumbai: Indian private sector lender Karnataka Bank aims to grow its retail business to 60% of total from current 55%, a senior official said on Tuesday.
“We want to take to retail growth. We are giving more thrust to housing loans, vehicle loans, and SMEs. Also, we want to go aggressively into agricultural credit, where we have not reached our target,” managing director P. Jayarama Bhat told Reuters.
Karnataka Bank also expects to double its gold loan business to Rs1500 crore in the current fiscal ending March 2012.
The Mangalore-based based bank aims to expand its branch network to 500 by March-end from the current 483.
At 2:35 pm, shares of the bank were down 0.57% at Rs129.7 in a weak Mumbai market.
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First Published: Tue, Jun 28 2011. 03 42 PM IST
More Topics: Karnataka Bank | Retail | SMEs | Loan | Shares |