Karnataka Bank Q2 profit up 21% at Rs 124 crore

Karnataka Bank said second-quarter profits grew 21% to Rs 123.82 crore as it saw double-digit growth in business. The Mangaluru-based bank reported profits of Rs 102.25 crore.

Operating profit grew 37.35% to Rs 232.75 crore in the quarter.

The bank saw advances grow 12.85% to Rs 36,611 crore and deposits by 8.64% to Rs 53,096 crore. 

The Capital Adequacy Ratio stood at 11.19% (under BASEL III) against the regulatory requirement of minimum 9%, the bank said in a statement.