Karnataka Bank on Tuesday reported a 5.3% fall in net profit at Rs105.91 crore for the second quarter ended September of the current fiscal as bad loans increased marginally.
The private sector bank had posted a net profit of Rs111.86 crore in the corresponding July-September quarter of the previous fiscal ended March 2019.
The bank's total income rose to Rs1,938.40 crore during September quarter of 2019-20 as against Rs1,653.81 crore in the year-ago period, the bank said in a regulatory filing.
The asset quality of the bank showed a slight blip as gross non-performing assets (NPAs) rose to 4.78% of the gross advances as on September 30, up from 4.66% a year ago.
In absolute value terms, gross NPAs stood at Rs2,594.27 crore as against Rs2,371.62 crore.
Similarly, net NPAs or bad loans rose to 3.48% (Rs1,863.11 crore) from 3% (Rs1,497.68 crore) a year ago.
The provisions for bad loans and contingencies too were raised to Rs262.40 crore for July-September from Rs193.22 crore in the corresponding quarter of 2018-19.
Provision coverage ratio as on September 30 stood at 59.19% (57.49% as on September 2018), the bank said.
The bank clocked a total business of Rs1,23,658.07 crore, registering a year-on-year growth of 8.61%. Deposits rose to Rs70,189.65 crore, up 9.87%, it said.
.jpeg)
No comments:
Post a Comment