Karnataka Bank accomplishes a year of transformational journey, promotes digital concepts
09/04/2019 17:48

Karnataka Bank on Tuesday said that, “it has successfully completed its first year of transformational journey and the new approach towards business is driven by technology and is reaping the benefits on a sustainable basis,” in a filing to Bombay Stock Exchange.

Mahabaleshwara, MD and CEO of Karnataka Bank said, “the new business model is guided by highest standards of corporate governance, effective risk management and by adhering to compliance parameters.”

“The blue print of Bank's new business approach anchoring on the regional sales executive concept is already rolled out,” he said.

“RSEs along with their dedicated sales team will act as the new business facilitators/enablers to supplement the branch heads and the concept will be expanded to all the major business centres across India for different verticals both under the asset and liability side,” he further said.

“Bank will further strengthen this new credit delivery model by effective use of technology under the Bank's recently opened digital centre of excellence concept. Bank will work as one team and will also re-align its leadership style across the cadre both in terms of attitude and approach,” he added.

“With this outlook I am sure that, time has come for the Bank to shift the gear and make a strong pitch for its aspirational transformation journey,” he added further to his statement.

Raghavendra Bhat M, COO, delivered the welcome and introductory address and Mahalingeshwara K, GM, made a presentation on business performance of the Bank.

All the regional heads from across the country, departmental heads and other executives at the Bank participated in the conference.

Pradeep Rao U, assistant general manager, proposed the vote of thanks.

The shares of Karnataka Bank traded at Rs. 135.05 apiece, low at 0.15 points or 0.11 per cent on the BSE.