Karnataka Bank net rises 7%

Private sector lender, Karnataka Bank Ltd has announced a seven per cent growth in net profit at Rs 49.78 crore for the quarter ended June 30, compared to the year-ago period. The bank’s operating profit rose 41.7 per cent to Rs 107 crore. Gross income grew 25.3 per cent to Rs 768.8 crore. The rise in profits was driven by a 36.2 per cent growth in net interest income.