Karnataka Bank Q4 falls 19%

Karnataka Bank Q4  falls 19%

Private sector lender Karnataka Bank posted 18.96 per cent decline in net profit at Rs 67.39 crore for the quarter ended March 31, 2013 (Q4) compared to Rs 83.16 crore in the corresponding period in FY2012.

Net interest income during Q4 was up 3.36 per cent y-o-y at Rs 221.4 crore. Net interest margin was 2.31 per cent in Q4, up from 2.19 per cent in the year-ago period.

Provisioning for bad loans was Rs 54.29 crore in Q4, down from Rs 75.72 crore in the year-ago period. Net non-performing assets (NPAs) stood at 1.51 per cent in Q4, down from 2.11 per cent in the corresponding quarter of FY2012. Capital adequacy ratio was 13.22 per cent as on March 31, 2013.

For the full year 2012-13, the bank's net profit was Rs 348.08 crore, up 41.45 per cent compared to Rs 246.07 crore in 2011-12. The bank's MD & CEO P Jayarama Bhat, said, “ Good recovery in NPAs & impressive growth in advances have contributed to an all time high net profit.” In 2012-13, the bank's advances grew 21.65 per cent at Rs 25,208 crore and deposits stood at Rs 36,056 crore, up 14.07 per cent, y-o-y. CASA ratio was 24.91 per cent.

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