Mangalore-based Karnataka Bank expects its total business to grow about Rs 35,000 crore in

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fiscal year 2009. The bank is also looking for international expansion by opening its representative office in West Asia.

“We are likely to close the present fiscal year with Rs 21,000 crore in deposits and Rs 14,000 crore in advances and open 15 branches, which would take the total number of branches to 450,” Ananthakrishna, chairman of Karnataka Bank, said speaking at the sidelines of inauguration of the renovated branch in Chennai.

The bank had a total business of Rs 27,858 crore in fiscal year 2008 and a Reserve Bank India licence to open 30 branches.

Ananthakrishna said as on December 2008, the bank's total business stood at Rs 31,248 crore with deposits of Rs 19,260 crore and advances of Rs 11,988 crore, while net profit was around Rs 184 crore. The capital adequacy ratio stood at 13.58 per cent, compared with RBI's requirement of 9 per cent. Present capital is around Rs 1,900 crore. The bank's prime lending ratio (PLR) was 14 per cent as on January 12, 2009.

Speaking about the performance of the region consisting of Tamil Nadu, Andhra Pradesh, Orissa and part of Kerala, K G Ramesh Rao, deputy general manager of Karnataka Bank, said the region with 63 branches accounts for 12 per cent of the bank's total business. In fiscal year 2008, the region contributed Rs 4,800 crore business to the bank of which Rs 2,600 crore were deposits and Rs 2,200 crore advances.

At present, the bank has 28 branches in Tamil Nadu and is planning to add four more by end of the ongoing financial year. Looking ahead, the bank looks for a total business of Rs 75,000 crore by end of 2013, Ananthakrishna said without elaborating the plans.