A recent press report said that Karnataka Bank Ltd shareholders have discussed at length issues related to the NPA management at the 87th annual general meeting here.
Mr. P. Jayarama Bhat, Managing Director and Chief Executive Officer of the bank, told the share holders that the bank taking steps to control NPA. He said that the bank was planning to recover around Rs 200 crore of NPAs during the current financial year.
Reports said that the gross NPA of the bank was 3.97 per cent (3.73 per cent) and net NPA was 1.63 per cent (1.37 per cent) on March 31, 2011.
Mr. Ananthakrishna, Chairman of the bank, said that the slowdown, which began in September 2008, did not impact the bank much in 2008-09. HE also said that the impact of slowdown on coffee, diamond and textile sectors, and the bank’s exposure to these sectors, affected the bank during 2009-10 and 2010-11.
Mr. Bhat said that the bank is planning to conduct adulates at various places to tackle NPAs. He also said that a general manager has been appointed to tackle NPAs and that the bank has targeted a recovery of not less than Rs 200 crore.
The Bank’s NPA can be from e home loans, car finance scheme, Varthak loan and other loans offered by the bank etc