Karnataka Bank announced Q2FY25 results Net profit stood at Rs 336.07 crore, against Rs 330.26 crore of Q2FY24. Net Interest Income has increased by 6.10% to Rs 1,736.92 crore from Rs 1,637.09 crore. The NP As have further moderated as the GNP As reduced to 3.21 % against 3.54% as of Q1FY25, while NNPAs also reduced to 1.46% against 1.66% as of 30/06/24. About a year back, i.e. as of Q2FY24, the GNPA was at 3.47%, and NNPA wasatl.36 %. The aggregate business of the Bank stood at Rs 1,75,284.08 crore (on a gross basis) for Q2FY25 compared to Rs 1,56,467.71 crore in Q2FY24 registering a YoY growth of 12.03%. The Aggregate deposits of the Bank stood at Rs 99,967.99 crore in Q2FY25 from Rs 89,531.73 crore as of Q2FY24 with an increase of 11.66%, (YoY industry growth of 12% among Scheduled Commercial Banks), Bank's Gross Advances stood at Rs 75,316.09 crore in Q2FY25 when compared to Rs 66,935.98 crore as of Q2FY24 with an increase of 12.52% (YoY industry growth of 13% among Scheduled Commercial Banks). The Bank's Retail Advances grew by 12.20% in Q2FY25 in comparison to Q2FY24. The CD ratio (Gross) of the Bank stood at 75.34 %. The Bank's Capital Adequacy Ratio stood at 17.58% compared to 16.20% as of Q2FY24. In line with RBI'srevised draft guidelines on Liquidity Coverage Ratio (LCR), the Bank has computed the same as on 30th September 2024, that stands at 143.93% as against the statutory target of 100%. The Net Interest Margin has decreased to 3.38 % from 3.65 % as of Q2FY24. Shri Srikrishnan H, Managing Director & CEO said: "Karnataka Bank has demonstrated stable financial performance in Q2FY25 with improvement in Book quality and growth in Retail segment that will be the focus going forward. Within the prevailing market conditions, the Bank has defined the growth trajectory for the rest of the year, and we are confident of achieving our goals. Our transformative journey is_ gaining more traction, and we will see the outcomes in the near future." Shri Sekhar Rao, Executive Director of the Bank, said: "We are pleased with the performance in Q2 FY25, highlighted by our efforts in consolidation and improved control over NP As and slippages. Strengthening risk management has been a key focus, resulting in better asset quality. Result PDF
Karnataka Bank announced Q1FY25 results: Karnataka Bank has posted a record Net Profit of Rs 400.33 crore for Q1FY25 as against Rs 370.70 crore during the corresponding Ql of FY 24 with an YoY (Year-onYear) growth rate of 7.99%. The Bank achieved its highest Business turnover at Rs 1,75,619 crore for Q1FY25 compared to Rs 1,49,971 crore for Ql of FY 24 registering a YoY growth of 17.10%. Aggregate deposits of the Bank stood at Rs 1,00,164 crore for Q1FY25 as against Rs 86,960 crore for Q1FY24 with a YoY growth of 15.18 %. Bank's Gross advances stood at Rs 75,455 crore as against Rs 63,012 crore as of Q1FY24 with a YoY growth of 19 .75 % . The operating profit of the Bank stood at Rs 558.59 crore and Net Interest Income stood at Rs 903.36 crore as at the quarter ended 30.06.2024. The book quality is steadily improving with Gross NP As declined to 3.54% at end of Q1FY25 compared to 3.68% in the corresponding Q1FY24. Net NPAs [NNPAs] stood at 1.66 % in Q1FY25 from 1.43% in the corresponding Q1FY24. The Capital Adequacy Ratio of the Bank has further improved to 17.64% at end of Q1FY25 as compared to 17.00% at end of Q1FY24. Announcing the results at the Bank's Head Quarters at Mangaluru, Srikrishnan H, Managing Director & CEO ·of the Bank said "We are happy to report multiple milestones in financial performance crossing Rs 1.75 Lakh crore in Business Turnover, reaching Rs 1 Lakh crore in Aggregate deposits and Rs 75 lakh crore in Gross Advances. This robust performance underscores the positive trends in our continued transformative journey coupled with enhancing our Digital & Technology platforms, Brand repositioning with outbound strategies and Centralisation of Operations creating synergies for our future success. Embracing a cultural shift, we have introduced a diverse range of new products, established new partnerships, strengthened our team, and rationalising internal processes with a customer-centric approach". Shri Sekhar Rao, Executive Director of the Bank, reflecting on the Bank's performance stated, "Karnataka Bank has displayed robust financial performance exceeding guidance even amidst market volatility. Our strategic initiatives in key areas such as digital transformation, customer service enhancement and launch of new products have started yielding positive outcomes. We remain committed to robust risk management practices and regulatory compliance, ensuring stability and growth. During the year we will look at further revitalising the Brand "Bharat ka Karnataka Bank", improve our Digital offerings and presence, strengthening of team in core areas while staying committed to overall health of balance sheet. " Result PDF