Press release

 

 

Karnataka Bank targets Export Credit of  Rs.2,600 crore.

 

Aiming the export credit target of Rs.2,600 crore, which constitute more than 12% of the projected credit target of Rs.21,500 crore for the current year, Shri. P. Jayarama Bhat, Managing Director and CEO of Karnataka Bank Limited., stressed the need for expanding the credit, with cautious approach, considering the present day scenario.

 

He was inaugurating the FOREIGN EXCHANGE BUSINESS CONFERENCE - 2011 of the bank convened on 9^th August 2011 at Head Office of the bank to review the performance of the bank under forex business during the year 2010-11 and to discuss the plan of action for the current year 2011-12 in which Heads of all Regions, International Division, Central Processing Centre, Overseas branches, Forex Designated branches of the bank participated.

 

Aiming the forex business turnover of Rs.12,000 crore for the year 2011-12, envisaging increase of around Rs. 3,000 crore over the previous year, Shri. Bhat advised the branch heads that there is a need for expanding the forex credit with exposure to diversified sectors and achieve sustainable growth.  He also advised the branches to increase the NRE and FCNR Deposits.

 

Shri. N. Upendra Prabhu, General Manager, in his address advised the branches to be extra vigilant while selecting new borrowers and enhancing exposure to existing borrowers.  Shri B. Ashok Hegde, General Manager, in his address advised the branches to adopt a pragmatic approach and also to be extra cautious while encashing the opportunities.

 

General Managers  Shri P. Jairama Hande and Shri. M.V.C.S. Karanth were present on the occasion and addressed the participants.

 

Shri. I. Santhosh Kumar, Deputy General Manager, Credit - LCFD, welcomed the gathering. Shri Chandrashekar Rao B.,Assistant General Manager, Credit - LCFD, presented Forex Business profile of the Bank whereas Shri.M.V. Mohan, Deputy General Manager, Central Processing Center and Shri. Suresh K, Asst. General Manager, International Division, presented profiles of CPC and ID respectively.

 

Shri Anandarama Adiga S, Deputy General Manager, Credit - RFD, proposed vote of thanks.

 

 

Date: August 9, 2011

Mangalore