<p> Karnataka Bank on Friday posted an increase of 11.16% in net profit that stood at Rs 121.54 crore for the quarter ended June 30, 2016, against Rs 109.34 crore in the corresponding quarter last year.<br /><br /></p>.<p>The operating profit of the bank has increased from Rs 239.02 crore to Rs 261.92 crore, showing a growth rate of 9.58%. The Net Interest Income has increased by 10.07% on year-on-year basis to Rs 364.69 crore from Rs 331.32 crore. <br /><br />The business turnover of the bank has touched Rs 86,447 crore as on June 30, 2016, registering a growth rate of 10.66% on year-on-year basis. “Even though there is some spike in NPAs in Q1 in line with the industry trend, the NPAs are reasonably contained within the tolerance zone. It is a matter of satisfaction to note that the preventive measures to minimise the collateral damages of NPAs has safe guarded the bottom line,” said P Jayarama Bhat, MD and CEO of Karnataka Bank. <br /><br /></p>
<p> Karnataka Bank on Friday posted an increase of 11.16% in net profit that stood at Rs 121.54 crore for the quarter ended June 30, 2016, against Rs 109.34 crore in the corresponding quarter last year.<br /><br /></p>.<p>The operating profit of the bank has increased from Rs 239.02 crore to Rs 261.92 crore, showing a growth rate of 9.58%. The Net Interest Income has increased by 10.07% on year-on-year basis to Rs 364.69 crore from Rs 331.32 crore. <br /><br />The business turnover of the bank has touched Rs 86,447 crore as on June 30, 2016, registering a growth rate of 10.66% on year-on-year basis. “Even though there is some spike in NPAs in Q1 in line with the industry trend, the NPAs are reasonably contained within the tolerance zone. It is a matter of satisfaction to note that the preventive measures to minimise the collateral damages of NPAs has safe guarded the bottom line,” said P Jayarama Bhat, MD and CEO of Karnataka Bank. <br /><br /></p>
