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Mangalore, Jan. 29

KARNATAKA Bank Ltd has registered a net profit of Rs 41.52 crore in the third quarter of the current financial year as against Rs 36.89 crore in the year-ago period, recording a growth of 12.55 per cent.

For the nine-month period, the bank has recorded a net profit of Rs 125.02 crore against Rs 106.90 crore in the same period last year, registering 16.95 per cent growth.

During the third quarter, the bank recorded an operating profit of Rs 78.23 crore (Rs 75 crore). While the total income stood at Rs 303.14 crore (Rs 260.09 crore), the total expenditures were Rs 224.91 crore (Rs 185.09 crore).

Deposits stood at Rs 11,465 crore and advances at Rs 7,044 crore in the first three quarters of the current fiscal as against Rs 9,187 crore and Rs 5,491 crore respectively in the corresponding period of the previous fiscal. The capital adequacy ratio stood at 13.53 per cent and the net-NPA at 1.56 per cent. Out of 387 branches, 302 are networked under core banking solution covering 95 per cent of business. The bank proposes to expand its branch network at Mumbai, Delhi, Chennai, Bangalore, Guwahati and Goa by the end of this financial year, the bank release said.

(This article was published in the Business Line print edition dated January 30, 2006)
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