Mangalore :  Karnataka Bank Limited, a premier private sector bank headquartered in Mangalore, registered an impressive performance for the financial year 2011-12. The Bank has recorded a net profit of Rs 246.07 crore for the year ended 2011-12 which is an increase by 20.26 per cent as against the net profit of Rs  204.61 crore registered during the previous year.

 There has been a significant increase even in the business turnover of the Bank which has touched Rs 52,329 crore. The deposits of the bank  stood at Rs 31608 crore, which is an increase by  15.63% compared to the previous year , while advances increased from Rs 17,348 crore to Rs 20,721 crore, an increase  by 19.44%.

As on March 31, 2012, the bank has 503 branches and 352 ATMs with all the branches networked under core banking solution.The bank has also sponsored the Financial Literacy and Credit Counseling Centre at B C Road, Karnataka.

The bank has plans to open 50 more new branches and 100 more new ATMs by March 2013 and is  targeting a  business turnover of Rs 65,000 crore for the year 2012-13.