Karnataka Bank posts all-time high net profit
PTI, Nov 2, 2022, 6:07 PM IST
Mangaluru: Mangaluru-headquartered Karnataka Bank has posted an all-time high quarterly net profit of Rs 411.47 crore for the quarter ended Sept-2022.
This shows growth in net profit by 228 percent, compared to the Sept 2021 quarter net profit of Rs 125.45 crore.
The director board of the bank, at its meeting held here on Tuesday, approved the financial results for the quarter and the half year that ended September 30, 2022. During the half-year period, the net profit stood at Rs 525.52 crore, which is also an all-time high against Rs 231.36 crore of September 2021, a bank release said here Wednesday.
For the quarter ending September 2022, the net interest income also increased by 26 percent to Rs 802.73 crore from Rs 637.10 crore.
The NPAs have also further moderated as the GNPAs reduced to 3.36 percent against 4.03 percent as of June 30, 2022, while NNPAs also reduced to 1.72 percent against 2.16 percent as of June 30. The business turnover of the bank has touched a new high of Rs 1,41,505.87 crore as of September 30, 2022.
Year-on-year, the deposits grew from Rs 76,921.53 crore to Rs 81,633.40 crore, and advances grew from Rs 54,341.57 crore to Rs 59,872.47crore. The CD ratio of the bank stood at 73.34 percent. The net interest margin has improved to 3.56 percent from 3.15 percent as of September 30, 2022, the release said.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Told to speak softly, man assaults relative; Case filed
BJP’s Brijesh Chowta to file nomination papers on April 4; discloses assets
M’luru/Udupi: Toll fees to be hiked from Apr 1
Tumakur triple murder case; Mortal remains of victims reach Belthangady
Rameshwaram cafe blast: Who is the key conspirator arrested by NIA?
MUST WATCH
Latest Additions
For ‘Bhoomi Putra’ Kharge, prestigious LS poll battle in Karnataka
Special court convicts 7 people in BSP MLA Raju Pal murder case
LS polls: More than 79,000 violations reported so far through C-Vigil app, says EC
EAM Jaishankar meets Ukranian counterpart Kuleba
CBI clean cheat over Air India-Indian Airlines merger: BJP must apologise to ex-PM Singh, says Raut