Karnataka Bank Q4 net profit rises 15% at Rs 31 cr; NII declines 13%

The capital adequacy ratio improved to 14.85% in March 2021

Private sector lender Karnataka Bank's net profit rose by 14.8 per cent to Rs 31.36 crore in fourth quarter ended March 2021 on dip in provisions and contingencies. It had posted a net profit of Rs 27.31 crore in same quarter last year.

The annual net profit for FY21 grew by 11.76 per cent to R 482.57 crore as against Rs 431.78 crore in FY20.

Its board recommended a dividend of 18 per cent, subject to shareholders approval. On Wednesday, its shares closed 1.41 per cent higher at Rs 71.9 apiece on BSE.

Mengaluru-based lender's net interest income (NII) for reporting quarter was