Business Daily from THE HINDU group of publications
Thursday, Jan 31, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Jan 31, 2008 ePaper | Mobile/PDA Version |
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Corporate Results
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Private Banks Web Extras - Financial Performance Karnataka Bank net rises 28% at Rs 69 cr Our Bureau Mangalore, Jan.30 Karnataka Bank Ltd registered a net profit of Rs 69.03 crore during the third quarter of the current financial year as against Rs 53.88 crore during the corresponding period of the previous year, recording a growth of 28.12 per cent. Speaking to Business Line here on Wednesday, Mr Ananthakrishna, Chairman and Chief Executive Officer of Karnataka Bank Ltd, attributed this to the growth in net interest income (NII) and other income. All-round growth“The growth in net profit is because of an all-round growth. Not limited to any particular area. Both NII and other income have shown a good growth during the period. There has been some trading profit,” he said. Other income, which was around Rs 57 crore in the second quarter of 2007-08, reached Rs 73.91 crore during the third quarter. There is an increase of around Rs 13.5 crore in the profit of sale of securities, he said. During the third quarter of 2007-08, the bank recorded a net interest income of Rs 115.8 crore as against Rs 105.04 crore in the corresponding period of the previous fiscal. During the period, other income stood at Rs 73.91 crore (Rs 39.71 crore). The total income stood at Rs 479.37 crore (Rs 361.70 crore). The net profit during the first nine months of the current fiscal stood at Rs 180.96 crore (Rs 150.27 crore), showing a growth of 20.42 per cent.
Deposits stood at Rs 15,903 crore (Rs 13,620 crore) and advances at Rs 10,414 crore (Rs 8,754 crore). The net interest income for the nine months period increased to Rs 351 crore (Rs 291 crore), recording a growth of 20.61 per cent. During the first nine months, the net NPA stood at 1.23 per cent (1.36 per cent). The aggregate investments stood at Rs 5,748 crore as at December 31, 2007. On Wednesday, the scrip of the bank closed at Rs 260.30 on the Bombay Stock Exchange, against the previous closing of Rs 258.20. 100 % CBS in Karnataka Bank Karnataka Bank sets Rs 28,500-cr biz target Karnataka Bank reports 30 pc growth in Q3 net More Stories on : Private Banks | Financial Performance
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