Karnataka Vikas Grameena Bank, a regional rural bank sponsored by Syndicate Bank, has surpassed a total business of Rs 6,600 crore as of December 17 this financial year. In the first six months of the current fiscal, the lender has earned a net profit of Rs 35.66 crore.
The Dharwad-headquartered bank has made all-round progress on almost all parameters during the current fiscal with a total business of Rs 3,810 crore in deposits and Rs 2,822 crore in advances. Mr K.P. Muralidharan, Chairman, said the bank was targeting a total business of Rs 7,400 crore by the end of the current fiscal.
Mr. Muralidharan added that the bank, which has 413 branches in Dharwad, Gadag, Haveri, Bijapur, Bagalkot, Belgaum, Uttara Kannada, Udupi and Dakshina Kannada districts of Karnataka, is planning to open 12 new branches the beginning of the new year.
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