The Hindu : Karnataka News : Karwar branch of SBI completes 50 years

Online edition of India's National Newspaper
Friday, Mar 04, 2005

Karnataka

Karnataka - Others

Karwar branch of SBI completes 50 years

By Our Correspondent

KARWAR, MARCH 3. The Karwar branch of the State Bank of India has completed 50 years of service. It was opened on February 14, 1955 as one of the branches of the Imperial Bank of India, which was later christened the State Bank of India.

The Chief Manager of the bank, S.P. Rao, speaking to The Hindu here on Wednesday said that the branch has shown good progress in the last 50 years. The total business of the bank is around Rs. 90 crores with around 17,000 customers. It earned a profit of Rs. 1.5 crore last year, he said.

Although the branch has been extending assistance to all segments of society, it had a non-performing assets (NPA) level of 1 per cent of its advances.

The branch has donated hearing-aid kits to a residential school for deaf and mute children in Siddar village. It has also organised health check-up camps in many areas and provided sewing machines, computers and cupboards to Gokul, an orphanage for girls at Shejwad near here.

To commemorate its golden jubilee, the bank honoured a few senior citizens in the town. P.K. Srivatsav, Deputy General Manager, Hubli Zone, and J.B. Kulkarni, Assistant General Manager, were present. K.P. Ramachandran, station director of the Karwar Naval Base, was the chief guest.

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