Saturday, 2 March 2013

Ratnakar Bank targets pan india presence

Kolhapur-based Ratnakar Bank today said it is aiming for a nationwide presence by the end of 2014-15 fiscal and hopes to grow at 35 to 40 per cent per annum, a top executive of the bank said here today. Vishwavir Ahuja, Managing Director and CEO of Ratnakar Bank, said by the end of the current fiscal the bank is expected to touch Rs 13,000 crore business mark. "By March 2015, I would say we would be reasonably pan-India. We are currently around Rs 12,000 crore in terms of business size. By March we may take it to Rs 13,000 crore. If we maintain disciplined growth in terms of our overall financial matrix, we would like to grow between 35 to 40 per cent per annum," Ahuja said at a press conference.
The bank recently received approval to increase its foreign holding share from the current 43 per cent to 55 per cent. Last year, it partnered with Infosys to upgrade its core banking system to the latest version of Finacle and tied up with HDFC for home loan business.
On its exposure to cash-strapped Deccan Chronicle Holdings, Ahuja said: “the exposure is small and we have recovered a part of it.”

Sandip Ginodia
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