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Karnataka Bank Q1 net up 10% at Rs 134 crore

The bank had reported a net profit of Rs 121.54 crore in the April-June quarter of FY17

Press Trust of India  |  New Delhi 

Karnataka Bank Q1 net up 10% at Rs 134 crore

Private sector lender has posted a 10.13 per cent rise in net at Rs 133.85 crore for the first quarter of the current fiscal.

The bank had reported a net of Rs 121.54 crore in the April-June quarter of 2016-17.


The total income of the bank increased to Rs 1,547.93 crore as against Rs 1,434.96 crore a year ago, it said in a regulatory filing.

Provisions to cover and contingencies increased to Rs 198.88 crore for the June quarter of 2017-18 from Rs 136.31 crore a year ago.

In terms of asset quality, gross (non-performing assets) or rose to 4.34 per cent of gross loans as on June 30, 2017 from 3.92 per cent a year ago.

Net were 3.20 per cent, up from 2.61 per cent a year ago.

"The encouraging growth in advance and the resultant increase in operating are two major achievements which will set tone for future growth story," the bank's Managing Director and CEO Mahabaleshwara M S said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sat, July 15 2017. 21:20 IST
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