Karnataka Bank has registered a net profit of Rs. 102.25 crore for the second quarter of the current fiscal against Rs. 88.46 crore registered during the same period in the previous fiscal. The growth registered was 15.59 per cent.
The operating profit also showed a marginal growth of 4.21 per cent and improved to Rs. 169.46 crore from Rs. 162.62 crore.
The net interest income for the half year end increased by Rs. 62.74 crore, from Rs. 575.47 crore to Rs. 638.21 crore, registering a year on year growth of 10.90 per cent, said a release from the bank here.
The bank has clocked a business turnover of Rs. 81,315 crore as on September 30, registering a year on year growth of 10.01 per cent. Deposits of the bank rose to Rs. 48,872 crore and advances rose to Rs. 32,443 crore. The gross non-performing assets (NPA) registered a declining trend with Rs. 1043.67 crore against Rs. 1060.88 crore as of September 2014. The net NPA also declined by 41 basis points to 1.96 from 2.37 per cent (from Rs. 702.24 crore to Rs. 635.28 crore.) Announcing the results here, managing director and chief executive officer P. Jayarama Bhat said, “Turnaround in NPA is the significant achievement of the second quarter and efforts would be further intensified to consolidate the position.”
