Karnataka Bank gains on opening Analytical Centre of Excellence at Bengaluru

Karnataka Bank is currently trading at Rs. 78.05, up by 0.40 points or 0.52% from its previous closing of Rs. 77.65 on the BSE.

Karnataka Bank
Karnataka Bank

The scrip opened at Rs. 78.00 and has touched a high and low of Rs. 78.40 and Rs. 77.30 respectively. So far 34125 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 91.35 on 20-Sep-2022 and a 52 week low of Rs. 55.25 on 31-Mar-2022.

Last one week high and low of the scrip stood at Rs. 88.20 and Rs. 76.30 respectively. The current market cap of the company is Rs. 2419.98 crore.

The Institutions holding in the company stood at 20.80%, while Non-Institutions held 79.20%.

Karnataka Bank, with an aim to harness the power of data, has opened Analytical Centre of Excellence (ACoE) at Electronic City, Bengaluru.

The centre which is developed in association with Ernst and Young (EY) as project partner, will help in accelerated incubation of AI/ML models along with their integration to business, on a scalable analytical data platform.

With the opening of ACoE, the bank has joined the elite club of few Banks who have their own ACoEs.

Data driven analytics is at the core of developing and driving processes and business models towards enhancing customer satisfaction, reducing operating cost, increasing agility of decision making, reducing risk for enterprises etc.

In this direction, ACoE will be a key differentiator in accelerating Karnataka Bank’s transformation journey to emerge as a relevant, progressive ‘Digital Bank of Future’ as envisaged as part of KBL NxT initiative of the Bank.

Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.

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