Mangalore: P. Jayarama Bhat, Managing Director & Chief Executive Officer of   Karnataka Bank Ltd., has been re-appointed for the second term of three years. His first term of three years will be complete on July 13, 2012.

The Bank has registered all round progress under his dynamic leadership, over the last three years. There was significant increase in Bank’s business to reach a new high of  Rs54,488 crore as on 30.06.2012 from Rs 32,004 crore as on 30.06.2009.

The number of branches of the Bank rose to 504 from 447 three years back while the number of ATMs has shown a more than 100% growth from 177 ATMs in 2009 to 382 as of now.  Customer base of the Bank has surpassed 60 lakhs.  While continuing its consistent dividend payment tradition, the Bank has proposed a Dividend of 35% for the year 2011-12, a press release from the Bank said.

During his tenure as MD& CEO, the Bank entered into various areas of business like introduction of POS, Online Trading Account, Travel Card, Gift Card etc to enhance service to customers.P. Jayarama Bhat is also a Member of Managing Committee of Indian Banks Association (IBA) and the honorary President of the Banker’s Club, Mangalore.. He is also Chairman of Private Sector Banks Association. During these years, Karnataka Bank has earned Best Bank Award by IDBRT for ‘Managing IT Risk’ under Small Bank Category.

Under his second term as MD & CEO of the Bank, the Bank is eyeing to cross business turnover of Rs lakh crore by March 2015.