Karnataka Bank Announced record Q1 Net Profit at Rs. 400.33 CR

In the Meeting of the Board of Directors held today at Bank's Head Quarters Mangaluru, the Board has approved the financial results for the quarter ended June 30, Karnataka Bank has posted a record Net Profit of Rs. 400.33 crores for Q1 of FY25 as against Rs. 370.70 crores during the corresponding Q1 of FY 24 with an YoY (Year-on-Year) growth rate of 7.99%.

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The Bank achieved its highest Business turnover at Rs. 1,75,619 crores for Q1 of FY25 compared to Rs. 1,49,971 crores for Q1 of FY 24 registering a YoY growth of 17.10%. The Aggregate deposits of the Bank stood at Rs. 1,00,164 crores for Q1 of FY 25 as against Rs. 86,960 crores for Q1 of FY 24 with a YoY growth of 15.18 %. Bank's Gross advances stood at Rs. 75,455 crores as against Rs. 63,012 crores as of Q1 of FY24 with a YoY growth of 19 .75 %.

 

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The operating profit of the Bank stood at Rs. 558.59 crores 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 Ql of FY25 compared to 3.68% in the corresponding Q1 of FY24. Net NPAs [NNPAs] stood at 1.66 % in Q1 of FY25 from 1.43% in the corresponding Q1 of FY24.

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