Q3FY22 Quarterly Result Announced for Karnataka Bank Ltd.
Karnataka Bank declares Q3FY22 result: Net Profit is up by 8.16% To Rs 146.42 crore The asset quality also improved significantly. The GNPA has declined by 39 bps to 4.11 % from 4.50% as compared to the sequential previous quarter i.e Sept. 2021. In absolute terms also the GNPA declined by Rs 170.60 crore, to Rs 2,330.52 crore from Rs 2,501.12 crore as at the previous quarter. Similarly, the NNPA also declined by 39 bps to 2.45% from 2.84% as compared to the sequential previous quarter 1.e. Sept. 2021. Further, Net NPA amount also reduced by Rs 186.37 crores to Rs 1,359.89 crore from Rs 1,546.26 crore as at the previous quarter. The PCR has further improved to 73.74% from 71.75% as at 30.09.21. Bank has clocked a business turnover of Rs 1,33,918.07 crore as on 31-12-2021, with a YoY growth rate of 5.44%, deposits of Rs 78,428.71 crore with YoY growth rate of 6.24% and Advances of Rs 55,489.36 crore with YoY growth rate of 4.33%. Announcing the results at the Bank's Head Quarters at Mangaluru, Shri Mahabaleshwara M S, Managing Director & CEO of the Bank said, " This has been one more quarter of consistent and satisfactory performance without any negative surprises. Inspite of the adverse effect of the pandemic on the economy, the stress in credit portfolio is receding as could be seen by the reduction in GNPA to 4.11 % from 4.50%, Net NPA to 2.45% from 2.84%. Added to this, the PCR has also further improved to 73.74% from 71.75%. I am very happy that all the Transformation driven initiatives have started yielding the desired result. " Result PDF31-01-2022
