Karnataka Bank Q4 net up 21%

Karnataka Bank Q4 net up 21%

Mangalore based Karnataka Bank on Thursday registered 20.51 per cent growth in net profit at Rs 81.21 crore in the fourth quarter of 2013-14 against net profit of Rs 67.39 crore a year ago.

Net interest income of the bank during the fourth quarter was Rs 249.93 crore against Rs 221.40 crore in fiscal 2013. The business turnover touched Rs 68,928 crore, rising 12.51 per cent on a year-on-year basis. Deposits grew 12.55 per cent from a year earlier to Rs 40,582.83 crore from Rs 36,056.22 crore.

“Despite challenges, the bank has been able to show modest growth,” said Karnataka Bank MD & CEO P Jayarama Bhat.

Total business turnover touched Rs 68,928 crore as on March 31, 2014, registering growth of 12.51 per cent on a year-on-year basis. Deposits grew from Rs 36,056.22 crore to Rs 40,582.83 crore.

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