• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mangalore, Oct. 30

Karnataka Bank Ltd has recorded a net profit of Rs 60.14 crore in the second quarter of the current financial year as against Rs 59.61 crore in the corresponding period of the previous year, registering a growth of 0.89 per cent.

Asked about the reason for the flat growth, Mr Ananthakrishna, Chairman and Chief Executive Officer of the bank, told Business Line that in the corresponding quarter of the previous fiscal, there was profit on the sale of securities of Bharat Overseas Bank. “That is not there this year,” he said.

On net interest income, he said the yield on advances had been good in the second quarter. That is one of the reasons for the growth in net interest income. During the second quarter, the bank recorded a net interest income of Rs 110.12 crore (Rs 90.64 crore), a growth of 21.49 per cent. The other income stood at Rs 56.92 crore (Rs 48.70 crore).

The total income stood at Rs 439.68 crore (Rs 344.01 crore).

The bank recorded an operating profit of Rs 90.74 crore (Rs 74.08 crore).

The bank recorded net NPA of 1.12 per cent (1.48 per cent) and capital adequacy ratio of 13.03 per cent (12.25 per cent).

A bank release said here the net profit for the half-year ended September 2007 stood Rs 111.93 crore (Rs 96.39 crore), registering an increase of 16.12 per cent.

The gross income for the half-year rose to Rs 843.35 crore (Rs 674.64 crore) and the operating surplus to Rs 194.58 crore (Rs 162.25 crore). Net interest income for the half year increased to Rs 235.01 crore (Rs.185.96 crore).

During Q2 of 2007-08, the total turnover stood at Rs 25,001 crore with deposits of Rs 15,161 crore and advances of Rs 9,840 crore.

On Tuesday, the scrip stood at Rs 225.55 on the Bombay Stock Exchange, against the previous closing of Rs 224.45.

More Stories on : Financial Performance | Private Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
The lull before the storm?

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line