Mangaluru: City private sector bank based - Karnataka Bank posted a net profit of Rs 317.03 crore for the first nine months of the current year against Rs 229.82 crore for the corresponding period last year, registering a year on year growth of 37.95%.
For standalone third quarter of the current year, the bank achieved a net profit of Rs 106.94 crore against Rs 106.70 crore during the third quarter of 2013 to 14, P Jayarama Bhat, Managing Director and CEO said.
Current account, savings account (CASA) increased by Rs 1,162 crore from Rs 9576 to Rs 10.738 crore rupees and constitutes 23.97% of total deposits.
On the bank's revenue increased to Rs 75,137 crores of Rs 65.688 crore as 31 December 2013 registering a YoY growth of 14.38%, while deposits reached a new high of Rs 44.799 crore with year growth rate of 15.81% and Rs 30.338 crore ahead with growth rate yoY 12.34%.
The ratio of capital adequacy stood at 11.99% [under Basel II] and 11.79% [under Basel III] against the minimum regulatory requirement of 9%. Similarly, the return on assets (ROA) also increased by 15 basis points to 0.86% against 0.71% a year ago.
Bhat said: "The results are in line with expectations. With industrial hollow low round of the signs of the wave and business sentiments of the scale, we are optimistic of business excellence in the 4th quarter of fiscal 2015. "
For standalone third quarter of the current year, the bank achieved a net profit of Rs 106.94 crore against Rs 106.70 crore during the third quarter of 2013 to 14, P Jayarama Bhat, Managing Director and CEO said.
Current account, savings account (CASA) increased by Rs 1,162 crore from Rs 9576 to Rs 10.738 crore rupees and constitutes 23.97% of total deposits.
On the bank's revenue increased to Rs 75,137 crores of Rs 65.688 crore as 31 December 2013 registering a YoY growth of 14.38%, while deposits reached a new high of Rs 44.799 crore with year growth rate of 15.81% and Rs 30.338 crore ahead with growth rate yoY 12.34%.
The ratio of capital adequacy stood at 11.99% [under Basel II] and 11.79% [under Basel III] against the minimum regulatory requirement of 9%. Similarly, the return on assets (ROA) also increased by 15 basis points to 0.86% against 0.71% a year ago.
Bhat said: "The results are in line with expectations. With industrial hollow low round of the signs of the wave and business sentiments of the scale, we are optimistic of business excellence in the 4th quarter of fiscal 2015. "
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