KARNATAKA BANK LTD. - 532652 - Compliances-Reg.24(A)-Annual Secretarial Compliance
Annual Secretarial Compliance Report for the Financial year ended 31.03.202427-05-2024
27-05-2024
KARNATAKA BANK LTD. - 532652 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Intimation of Newspaper publication27-05-2024
KARNATAKA BANK LTD. - 532652 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Transcript (revised) of the Analyst / Institutional Investor Conference Call on FY 2023 - 24 Financial Results27-05-2024
KARNATAKA BANK LTD. - 532652 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Analyst / Institutional Investor Meet organised by Batlivala & Karani Securities India Pvt. Ltd.26-05-2024
KARNATAKA BANK LTD. - 532652 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Transcript of Analyst / Institutional Investor Conference Call for Financial Results as on 31.03.202426-05-2024
KARNATAKA BANK LTD. - 532652 - Announcement under Regulation 30 (LODR)-Dividend Updates
Dividend update24-05-2024
KARNATAKA BANK LTD. - 532652 - Audited Standalone And Consolidated Financial Results For The Quarter And Financial Year Ended March 31, 2024
Audited Standalone and Consolidated financial Results for the quarter and financial year ended March 31, 202424-05-2024
KARNATAKA BANK LTD. - 532652 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Audio recording and outcome of the Concall held on May 24, 2024 in connection with Audited results for the quarter and financial year ended March 31, 202424-05-2024
Karnataka Bank Q4 net down 22.48%; proposes 55% dividend
The bank recorded a net profit of 1306.28 crore in 2023-24 against 1180.24 crore in 2022-23, an increase of 10.68 per cent24-05-2024
FY24 Annual Result Announced for Karnataka Bank Ltd.
Karnataka Bank announced FY24 results: Karnataka Bank reported a record annual net profit of Rs 1,306.28 crore for FY24, marking an 11% increase from the previous year's Rs 1,180.24 crore. During a meeting in Mangaluru, the Board of Directors approved the Audited Annual financial results for the year ended March 31, 2024, and proposed a dividend of 55% for approval in the forthcoming Annual General Meeting. The Bank incurred a One-time Staff Cost of INR 152.2 crore in Q4FY24 relating to enhanced actuarial provisions arising out of the 12th Bi-partite settlement. As of March 31, 2024, the Bank's business turnover stood at Rs 1,71,059.49 crore, showing a YoY growth of 15.06%. Gross Advances increased by 19.08% YoY to Rs 73,001.66 crore, while Deposits grew by 12.24% YoY to Rs 98,057.83 crore. CASA deposits accounted for 31.97% of total deposits. The Bank's PCR (Provision Coverage Ratio) including Technical write-offs remained at similar levels (~80%) as on March 31, 2024, compared to March 2023 and December 2023. The Bank's CRAR (Capital to Risk Weighted Assets Ratio) under Basel III reached a record 18.00%, up from 17.45% last year, primarily due to a capital infusion of Rs 1,500 crore during FY24, through QIP and Preferential Allotments. Gross NPA (GNPA) improved to 3.53% as of March 2024 compared to 3.74% as of March 2023, and Net NPA (NNPA) improved to 1.58% compared to 1.70% as of March 2023. Standard restructured advances decreased to Rs 1,579 crore as of March 31, 2024, from Rs 2,571 crore as of March 31, 2023. Recoveries remained robust at approximately Rs 280 crore during FY24. There was significant improvement in the overall GNPA + Restructured Portfolio, which decreased from 11.0% of Gross Advances as of FY22 to 7.9% as of FY23 and further to 5.7% as of FY24. The Bank's priority sector advances stood at 60% of ANBC, surpassing the minimum target of 40% specified by RBI. Announcing the results at the Bank's Head Quarters at Mangaluru, Srikrishnan H, Managing Director & CEO of the Bank said "Karnataka Bank's financial achievements are a testament to its dedicated and ongoing transformational changes. Through a concerted effort to enhance technology-based deliveries coupled with operational efficiency, we are forging a new path forward. With a cultural shift towards relevance, we have introduced a range of new products, re-defined our technology architecture, built new partnerships, strengthened our management team and working on internal processes to be outbound and customer centric. In Feb 2024, we celebrated the Bank's centenary, marking a historic milestone during our journey of Trust and Excellence. The Bank also successfully completed an ambitious Capital raising program of Rs 1,500 crore in a record six months that demonstrates investors' confidence in our vision and strategic direction. The Bank's brand-new positioning as "Bharat Ka Karnataka Bank" signals our pan-India approach for business presence." Shri Sekhar Rao, Executive Director of the Bank, reflecting on the bank's performance stated, "Karnataka Bank has demonstrated a strong financial performance with sustained margins as per guidance, even in a volatile market. We continue to create value for our shareholders by enhancing our offerings and adapting to the market changes. Our focus on fulfilling customer needs through innovation and product centricity is being achieved through fostering new partnerships and digitising the Bank. By embracing Digital transformation, the Bank aims to improve its streamline processes and deliver superior customer experiences. We stay committed to continuing our growth trajectory in the coming years." Result PDF24-05-2024