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Karnataka Bank posts a net profit of ` 313.89 Crores

Karnataka Bank posts a net profit of ` 313.89 Crores

Mangalore Today News Network

Mangaluru, Jan 24, 2017: Karnataka Bank has posted a net profit of ` 313.89 crore for the first nine month period ended December 2016 against ` 308.50 crore for the corresponding period last year. For the stand alone third quarter ended December 2016, Bank has earned a net profit of ` 68.52 Crores as against ` 96.91 crores during Q3 of 2015-16.

P Jayarama Bha.The Operating profit for the 9 months period ended December 2016, is ` 666.53 crores as against ` 600.16 crores during the corresponding period of the previous year, registering a growth of 11.06%.

The Net Interest Income for 9 months period ended December 2016 increased by ` 195.31 crores from ` 943.14 crores to ` 1138.46 crores registering y-o-y growth of 20.71 per cent.

Bank has clocked a business turnover of ` 93,222 crores as on 31-12-2016, registering a y-o-y growth of 12.87%. Deposits of the Bank rose to ` 57,435 crores registering y-o-y growth of 15.65%. Advances rose to ` 35,786 crores registering y-o-y growth of 8.68%.

Current Account, Savings Account (CASA) deposits increased by ` 4,830 crores from ` 12,529 crores to ` 17,359 crores and constitutes 30.22% of total deposits. [25.23% as on Dec 2015].
The Capital Adequacy Ratio stood at 13.19 per cent [under BASEL III] against the regulatory requirement of minimum 9 per cent.

Announcing the results at the Bank’s Head Quarters at Mangaluru,  P Jayarama Bhat, MD & CEO of the Bank said, “Even though Q3 of the current financial year has not been a normal quarter for banks mainly on account of demonetization related issues, Bank has been able to wither away its impact and the ensuing quarters are likely to be robust”.

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Comments on this Article
Mohammed Salim, Bengaluru Tue, January-24-2017, 5:44
The bank is known for its best service to the customers . Nothing is possible without the co-operation of the customers .It goes hand in hand.
Balachandra, Puittur Tue, January-24-2017, 5:18
Well Karnataka Bank has earned a goodwill of customers
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