Conference Call with Karnataka Bank Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Karnataka Bank announced Q3FY23 results: Q3FY23: Karnataka Bank posted a net profit of Rs 300.63 crore during Q3FY23 with a growth rate of 105.32 % as against Rs 146.42 crore during the corresponding previous quarter. The net profit for 9MFY23 increased to Rs 826.15 crore with a YoY growth rate of 118.68 % as against Rs 377.79 crore of net profit earned during the corresponding period of the previous year. The GNPA has declined by 8 bps to 3.28% in Q3FY23 from 3.36% as compared to the sequential previous quarter Q2FY23. The NNPA also declined by 6 bps to 1.66 % in Q3FY23 from 1.72 % as compared to the sequential previous quarter Q2FY23. The PCR has further improved to 80.21 % from 73.66% a year ago. Bank has clocked a business turnover of Rs 1,47,128.51 crore as of Q3FY23, with a YoY growth rate of 9.79%, deposits of Rs 84,596.40 crore with a YoY growth rate of 7.86 % and advances of Rs 62,532.11 crores with YoY growth rate of 12.51%. Announcing the results at the Bank's Head Quarters at Mangaluru, Shri Mahabaleshwara M S, Managing Director & CEO of the Bank said, "The impressive all-round performance of the Bank is on account of improved operational efficiency facilitated by various initiatives under KBL VIKAAS. The NII has gone up by 26.74%. NIM has improved to an all-time high of 3.63% as compared to 3.15% as of Q3FY22. Further, the Bank has also shown improvement in GNPA, and NNPA indicating better asset quality. Further PCR has also improved to an all-time high of 80.21%. The consistent and stable performance has been the hallmark of the Bank, and going forward Bank will strive hard for its sustainability with a higher scale" Result PDF