The Karnataka Bank’s Q2 net rises by 21.10% to Rs 123.82 crores

Mangalore Today News Network

Mangaluru, Nov 9, 2016: The Karnataka Bank Limited has registered Net Profit of Rs 123.82 crores for Q2 of the current fiscal from Rs 102.25 crores [Q2 of FY 2015-16], registering a y-o-y growth of 21.10% when compared to corresponding quarter last year. The operating profit also showed a growth of 37.35% and improved to Rs 232.75 crores from Rs 169.46 crores [Q2 of FY 2015-16].

The Net Interest Income for the half year increased by Rs 123.73 crores from Rs 638.21 crores to Rs 761.94 crores registering a y-o-y growth of 19.39 per cent.

The Bank has clocked a total business of Rs 89,707 crores as on 30-09-2016, registering a y-o-y growth of 10.32%. Deposits of the Bank rose to Rs 53,096 crores registering a y-o-y growth of 8.64%.  Advances rose to Rs 36,611 crores registering a y-o-y growth of 12.85%.

The Capital Adequacy Ratio stood at 11.19 per cent [under BASEL III] against the regulatory requirement of minimum 9 per cent.

Gross NPAs stood at Rs 1,345 crores as on 30-09-2016 and constituted 3.64% of gross advances.

Net NPAs stood at Rs 961 crores as on 30-09-2016, constituting 2.63 % of net advances.