Karnataka Bank Q1 net up 68%
By According to a bank pres | 01 Aug 2003
Mangalore: Karnataka Bank has recorded a net profit of Rs 34.74 for the quarter ended June 20003. The net profit has grown by 67.50 per cent compared to the corresponding period last year.
According to a bank press release, the gross income of the bank increased from Rs 239.31 crore to Rs 319.38 crore at the end of June. Its operating profit rose from Rs 42.85 crore to Rs 112.90 crore.
The capital adequacy ratio stood at 14.27 per cent, above the Reserve Bank of India-stipulated level of 9 per cent. The bank has set a target to take the deposit to Rs 10,000 crore and advances to Rs 5,000 crore by March 2004.