<p>Karnataka Bank Limited (KBL) recorded a net profit of Rs 114.05 crore in the first quarter of 2022-23 as against Rs 105.91 crore in the corresponding quarter of 2021-22, registering a growth of 7.69%.</p>.<p>The Managing Director and Chief Executive Officer (CEO) Mahabaleshwara M S on Saturday attributed the growth to the consistent and sustainable performance over the period.</p>.<p>“Despite temporary aberration of a corporate advance, which required 100% provisioning, the slippage ratio is at 1.03%,” the MD said.</p>.<p>Gross non-performing assets (NPAs) of the bank declined to 4.03% in Q1 of 2022-23 as against 4.84% in the corresponding period of previous fiscal.</p>.<p>He said net NPAs also declined to 2.16% (3.02%) during the period. The net interest income (NII) of the bank increased to Rs 687.56 crore during Q1 of 2022-23 as against Rs 574.79 crore in Q1 of 2021-22, recording a growth of 19.62%.</p>.<p>Net interest margin (NIM) further improved to 3.33%. The increasing trend in NIM indicates the consistent improvement in all the contributing factors and is on expected lines, he said.</p>.<p>“There is 13.03% growth in advances. By September, I think, we will cross 15%,” he said, indicating an improvement in credit growth.</p>.<p>The bank’s capital adequacy ratio (CAR) had further improved to 15.41%. Mahabaleshwara said the bank will continue to focus on credit growth.</p>.<p>“Going forward, I am confident that with robust opportunities in the economy, we hope to be consistent in our performance by working as per plan to ensure a sustainable growth,” he said.</p>.<p>The board of directors of the bank also decided to seek the approval of the shareholders to raise the equity capital through the QIP route for an amount not exceeding Rs 1,000 crore.</p>
<p>Karnataka Bank Limited (KBL) recorded a net profit of Rs 114.05 crore in the first quarter of 2022-23 as against Rs 105.91 crore in the corresponding quarter of 2021-22, registering a growth of 7.69%.</p>.<p>The Managing Director and Chief Executive Officer (CEO) Mahabaleshwara M S on Saturday attributed the growth to the consistent and sustainable performance over the period.</p>.<p>“Despite temporary aberration of a corporate advance, which required 100% provisioning, the slippage ratio is at 1.03%,” the MD said.</p>.<p>Gross non-performing assets (NPAs) of the bank declined to 4.03% in Q1 of 2022-23 as against 4.84% in the corresponding period of previous fiscal.</p>.<p>He said net NPAs also declined to 2.16% (3.02%) during the period. The net interest income (NII) of the bank increased to Rs 687.56 crore during Q1 of 2022-23 as against Rs 574.79 crore in Q1 of 2021-22, recording a growth of 19.62%.</p>.<p>Net interest margin (NIM) further improved to 3.33%. The increasing trend in NIM indicates the consistent improvement in all the contributing factors and is on expected lines, he said.</p>.<p>“There is 13.03% growth in advances. By September, I think, we will cross 15%,” he said, indicating an improvement in credit growth.</p>.<p>The bank’s capital adequacy ratio (CAR) had further improved to 15.41%. Mahabaleshwara said the bank will continue to focus on credit growth.</p>.<p>“Going forward, I am confident that with robust opportunities in the economy, we hope to be consistent in our performance by working as per plan to ensure a sustainable growth,” he said.</p>.<p>The board of directors of the bank also decided to seek the approval of the shareholders to raise the equity capital through the QIP route for an amount not exceeding Rs 1,000 crore.</p>
