Bangalore: Cauvery Kalpatharu Grameena Bank, which made a net profit of Rs. 3.46 crore last year, has set an aggregate turnover target of Rs. 2,185 crore for 2007-08. It plans to advance Rs. 985 crore, of which Rs. 350 crore will be set aside for the agricultural sector. Last year, the bank's business turnover crossed Rs. 1,777 crore.

Bank chairman Shivaswamy said in a press release that it planned to mobilise Rs. 1,200 crore and increase operational profit and net profit substantially during the next year. It would intensify the focus on financing horticultural projects to promote the National Horticulture Mission.

He said the bank would continue its efforts aimed at the economic and social development of farmers. Six more branches would be opened in the near future.

Deposits increased from Rs. 793.88 crore to Rs. 993.64 crore this year, registering a growth of 25.16 per cent. Net accrual of deposits during the year was Rs. 199.76 crore. Advances increased to Rs. 783.50 crore from Rs. 605.59 crore.

Mr. Shivaswamy said the flow of agricultural credit had been good at Rs. 348.50 crore, an increase of Rs. 84.56 crore over the previous year.

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