Karnataka Bank has registered a 67.6 per cent growth in its net profit at Rs.83.44 crore in the first quarter ended June 30, 2012 against Rs.49.78 crore in the same period last year. Total business has increased by Rs.8,585 crore to Rs. 54,225 crore from Rs. 45,640 crore.
Total deposits increased by Rs.4,995 crore to Rs.32,547 crore from rs.27,552 crore and advances by Rs.3,591 crore to Rs.21,678 crore from rs.18,087 crore. It earned a total income of Rs.989 crore during the quarter against Rs.769 crore for the corresponding period, a growth of 29 per cent. The bank is planning to hike the number of service outlets to 1,000 by increasing the number of branches to 550 and ATMs to 450 by the year end.
Keywords: Karnataka Bank
Good! However the bank should be very careful in monitoring its loan portfolio. The
faster you grow in sanction, the higher the risk of non-performing assets. Being
"figure conscious" is good, but up to a limit. Sanctioning is easier than recovering the
money lent. Seeds of NPAs are sown while lending. Hope the bank is doing all that is
required to recover the money lent by it. Best of luck to the bank!
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