The Hindu Business Line : Karnataka Bank Q3 net steady at Rs 37 crore

KARNATAKA Bank Ltd has registered a net profit of Rs 36.89 crore in the third quarter of the current financial year compared with Rs 36.45 crore in the corresponding period of the previous financial year, showing a growth of 1.21 per cent. However, there was decline in the operating profit of the bank at Rs 75 crore ( Rs 80.14 crore).

In the first nine months of the current financial year, the bank registered a net profit of Rs 106.90 crore (Rs 105.62 crore in the previous year).

A bank release said here that this was after providing for depreciation on account of transfer of SLR securities effected in the quarter from `available-for-sale' category to `held-to-maturity' category as permitted by Reserve Bank of India and providing for arrears of salary on account of wage revision. The total income of the bank during the third quarter stood at Rs 260.09 crore (Rs 267.77 crore).

Of this, interest income stood at Rs 213.43 crore (Rs 211.26 crore). While interest income on investments came down to Rs 86.59 crore (Rs 96.75 crore), interest on advances and bills increased to Rs 123.36 crore (Rs 103.57 crore). Even the interest on balances with Reserve Bank of India and other inter-bank funds came down to Rs 3.47 crore (Rs 4.70 crore).

There was a dip in other income at Rs 46.66 crore (Rs 56.51 crore).. Total expenditure for Q3 was Rs 185.09 crore (Rs 187.63 crore).

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Karnataka Bank Q3 net steady at Rs 37 crore