Page 2 - Karnataka Bank

The good and not so good of Indian banking story

The drop in provisions is a healthy sign - 21 of 32 listed banks have less than 1% net NPAs. But their CASA and NIM are under pressure

Karnataka Bank eyes second round of equity infusion in the next six months

The proceeds of the issue will be primarily used to meet the needs of the growing business of the bank, including long-term capital requirements

Karnataka Bank gains 4%, hits over 15-year high on fund raising plans

The board of the private sector lender is scheduled to meet on Friday, September 22, 2023 to consider the raising of funds by issue of equity shares / any other equity linked securities.

Karnataka Bank announces net profit of Rs 370.70 crore for June quarter

Karnataka Bank has posted a net profit of Rs 370.70 crore during the first quarter of the current financial year as against Rs 114.18 crore recorded during the corresponding quarter of the previous year, with a year-on-year (YoY) growth rate of 224.66 per cent. A meeting of the board of directors of the bank held here on Thursday approved the financial results for the quarter that ended June 30, 2023, a press release here said citing the figures. The operating profit of the bank stood at Rs 601.17 crore and net interest income stood at Rs 814.68 crore during the quarter ended June 30. The business turnover of the bank was at Rs 1,48,449.27 crore as on June 30, 2023, compared to Rs 1,38,936.17 crore in the previous year, registering a YoY growth of 6.85 per cent. The deposits of the bank stood at Rs 86,959.86 crore with a YoY growth of 7.92 per cent and advances at Rs 61,489.41 crore with a YoY growth of 5.36 per cent. The gross NPAs declined to 3.68 per cent, compared to 4.03 per c

Karnataka Bank Q1 results: Net profit rises 224.7% on better NIMs

The bank saw a marked increase in net interest income and non-interest income during the quarter

Karnataka Bank Q4 results: Net profit up 171.5%, dividend declared

The Bank's annual consolidated net profit stood at Rs 1,179.68 crore for FY23

Karnataka Bank appoints Srikrishnan Harihara Sarma as MD and CEO

Sarma has nearly four decades of experience spread across commercial, retail & transactional banking, technology, and payments

MCC Bank records pre-tax profit of Rs 12.20 cr in FY23, cuts NPA level

The Mangalore Catholic Cooperative (MCC) Bank, one of the pioneers of cooperative banks in Karnataka, has recorded a pre-tax profit of Rs 12.20 crore in the 2022-23 financial year. The 111-year-old bank has been progressively reducing the non-performing assets (NPA) and for the first time in recent years, reduced the level to 1.37 per cent, a bank release said here on Thursday. The bank has 16 fully computerised branches spread across Dakshina Kannada and Udupi districts. With its operations now confined to the parent districts of Dakshina Kannada and Udupi districts since its inception in 1912, the bank is all set to expand its area of operations to five more districts. The bank has decided to open branches in Uttara Kannada, Shivamogga, Chikkamagaluru, Hassan and Kodagu districts, with the efforts of the team led by chairman Anil Lobo. Lobo said the bank has recorded substantial growth in business and financial parameters in the financial year that ended on March 31, 2023, with

RBI permits Karnataka Bank to collect direct, indirect taxes for CBDT, CBIC

The Reserve Bank of India has authorised private sector lender Karnataka Bank to collect direct and indirect taxes on behalf of CBDT and CBIC. This has been done on the recommendation from the Controller General of Accounts (CGA), Ministry of Finance, Karnataka Bank said in a regulatory filing on Tuesday. Bank customers are already enjoying seamless online payments for custom duty by selecting Karnataka Bank in the Indian Customs Electronic Gateway 'ICEGATE' portal of CBIC, it added. The (ICEGA TE) portal of the Central Board for Indirect Taxes and Customs (CBIC) provides e-filing services to the trade, cargo carriers and other trading partners electronically, the statement said.

Stocks to Watch: Tata Motors, ONGC, Maruti, HAL, RVNL, HG Infra, JSW Energy

Stocks to Watch: Oil related stocks like ONGC/Oil India/RIL/ refiners will be in focus as crude jumped 8 per cent following a surprise output cut by the OPEC+

Nifty needs to close above 18,730 to resume rally, says Vinay Rajani

The technical & derivative analyst from HDFC Securities recommends buying NLC India and Karnataka Bank among individual stocks.

This bank stock has zoomed over 50% in 3 days on robust Q2 results

Karnataka Bank surged 19% to Rs 143 in the intra-day trade on Friday. It was trading at its highest level since February 2018

Karnataka Bank posts all-time high Q2 net profit of Rs 411 cr, NII up 26%

Mangaluru-headquartered Karnataka Bank has posted an all-time high quarterly net profit of Rs 411.47 crore for the quarter ended Sept-2022. This shows growth in net profit by 228 percent, compared to the Sept 2021 quarter net profit of Rs 125.45 crore. The director board of the bank, at its meeting held here on Tuesday, approved the financial results for the quarter and the half year that ended September 30, 2022. During the half year period, the net profit stood at Rs 525.52 crore, which is also an all-time high against Rs 231.36 crore of September 2021, a bank release said here Wednesday. For the quarter ending September 2022, the net interest income also increased by 26 percent to Rs 802.73 crore from Rs 637.10 crore. The NPAs have also further moderated as the GNPAs reduced to 3.36 percent against 4.03 percent as of June 30, 2022 , while NNPAs also reduced to 1.72 percent against 2.16 percent as of June 30. The business turnover of the bank has touched a new high of Rs 1,41,50

Karnataka Bank zooms 20%, hits over 3-year high on strong Q2 results

The bank said the significant jump in net profit is mainly because of improved earnings, improved asset quality, healthy growth of advances, cost containment, and efficiency enhancement, among others

Karnataka Bank's Q1 net up 7.69 % to Rs 114 cr on improved interest margins

The Board has approved a proposal to seek shareholders' nod for raising further equity capital up to Rs 1,000 cr

JCB India nominates Karnataka Bank as preferred financier after signing MoU

The city-headquartered Karnataka Bank has signed a Memorandum of Understanding (MoU) with JCB India Limited, a manufacturer of earthmoving and construction equipment in India

Karnataka Bank raises Rs 300 crore through bonds on private placement basis

To comply with Basel-III capital regulations, banks globally need to improve and strengthen their capital planning processes

IDBI Bank plans to raise up to Rs 3,000 crore through AT1 bonds

The private sector lender will also raise up to Rs 1,000 crore via infrastructure bonds to fund projects and affordable housing.

Stocks to Watch: Infosys, TCS, Zomato, SBI, GMR Power, Zee, Karnataka Bank

Post demerger, GMR Power and Urban Infra, the non-airport business company of the GMR Group, will start trading on BSE and NSE from Wednesday onwards.

Karnataka Bank board approves plan to raise Rs 300 cr via bonds

Private sector lender Karnataka Bank on Tuesday said it will raise up to Rs 300 crore by issuing Basel III compliant bonds on a private placement basis.