Financial Daily from THE HINDU group of publications
Sunday, May 30, 2004
Financial Daily from THE HINDU group of publications Sunday, May 30, 2004 |
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Corporate Results
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Private Banks Money & Banking - Financial Performance Karnataka Bank net up at Rs 133 cr Our Bureau
Mangalore , May 29 KARNATAKA Bank Ltd has declared a net profit of Rs 133.17 crore for 2003-04 as against Rs 110.12 crore for 2002-03. The operating profit of the bank for the year has gone up by Rs 76.42 crore from Rs 253.37 crore to Rs 329.79 crore. The total business volume of the bank has crossed the Rs 14,000-crore mark. Of this, the contribution of the deposits is Rs 9,400 crore and advances Rs 4,600 crore. The Chairman and CEO of the bank, Mr Ananthakrishna, said that interest income and non-interest income have shown substantial improvement. He said that the bank has been able to curtail NPAs to a lower level. During 2004-05, the bank is planning to achieve the business target of Rs 17,000 crore. Mr Ananthakrishna said that the bank would introduce Internet and mobile banking, and expand its ATM reach through its own network and through tie-ups with other service providers. It is also planning to add 20 new branches in select metros and urban centres.
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