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Lord
Krishna Bank targets Rs5,000-crore business
Our
Banking Bureau
5 August 2004
 Kochi:
The
Lord Krishna Bank (LKB), one of the leading Kerala-based
private sector banks, is aiming for over Rs5,000-crore
business this year, according to RM Nayak, managing director.
He said it was targeting to halve its non-performing assets
(NPAs) to below three per cent by March end.
The
bank aims a 44.63 per cent growth in total business to
surpass the Rs5,000-crore mark during the current fiscal
compared to Rs3,429.11 crore achieved during 2003-04,
Nayak said after the annual general body meeting.
During
2003-04, the bank recorded 33 per cent growth in business
over the previous year, with total deposits of Rs2,311
crore and advances of Rs1,146 crore.
On
the non-performing assets, he said the bank was expected
to bring it down to less than 3.0 per cent this year as
compared to over 6.0 per cent during the previous fiscal.
In
order to bring down the borrowing cost, LKB is also increasing
its focus on the mobilisation of low cost funds to reduce
average cost of deposits, Nayak said. The bank has also
charted out an ambitious growth plan including the 100
per cent  computerisation
of the bank and expansion of delivery channels through
the increased spread of its branch network, extension
counters, ATMs and alternate banking channels.
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