Business Standard

Karnataka Bank

Karnataka Bank increases fixed deposit interest offering up to 7.5 %

Lender offers 3.50% rate to general citizens on deposits with tenures ranging from seven to 45 days

Karnataka Bank increases fixed deposit interest offering up to 7.5 %
Updated On : 05 Dec 2024 | 12:44 PM IST

Ajit Mishra from Religare Broking suggests buying these three stocks today

Market reactions to the US Fed meeting outcome will be evident in early trades on Thursday. Indications suggest that the current market tone will persist.

Ajit Mishra from Religare Broking suggests buying these three stocks today
Updated On : 01 Aug 2024 | 7:35 AM IST

Karnataka Bank slips 3% on weak Q4 margins; Rs 5.50 dividend announced

The bank's net interest income (NII), which is the difference between interest earned and interest expended, fell 3 per cent to Rs 834 crore in Q4FY24, from Rs 860 crore in Q4FY23

Karnataka Bank slips 3% on weak Q4 margins; Rs 5.50 dividend announced
Updated On : 27 May 2024 | 2:06 PM IST

Karnataka Bank Q4 results: Net profit declines 23% to Rs 274 crore

Karnataka Bank on Friday posted a 23 per cent decline in net profit to Rs 274 crore for the fourth quarter ended March 2024 due to a one-time staff cost increase. The private sector bank had earned a net profit of Rs 354 crore in the same quarter a year ago. The total income increased to Rs 2,620 crore during the quarter under review against Rs 2,365 crore in the same period last year, Karnataka Bank said in a regulatory filing. However, net interest income declined to Rs 834 crore during the period under review from Rs 860 crore in the corresponding quarter a year ago. The bank incurred a one-time staff cost of Rs 152 crore in the fourth quarter relating to enhanced actuarial provisions arising out of wage settlement, it said. On the asset quality side, the bank's gross non-performing assets (NPAs) moderated to 3.53 per cent of gross advances as of March 31, 2024, from 3.74 per cent at the end of March 2023. Net NPAs also declined to 1.58 per cent of the advances from 1.70 per c

Karnataka Bank Q4 results: Net profit declines 23% to Rs 274 crore
Updated On : 24 May 2024 | 7:00 PM IST

Karnataka Bank raises Rs 600 cr through qualified institutional placement

Karnataka Bank on Thursday said it has raised around Rs 600 crore through qualified institutional placement by issuing shares to institutional investors. The qualified institutional placement (QIP) opened on March 21 and closed on March 27. "...The Committee of Directors at its meeting held today, approved the issue and allotment of 2,64,31,718 equity shares to 25 eligible qualified institutional buyers at the issue price of Rs 227 per equity share...aggregating to Rs 599.99 crore," the bank said in a regulatory filing. The institutions which bought shares in the QIP include HSBC Mutual Fund, Morgan Stanley Asia Singapore PTE, HSBC Global Investment Funds, SBI Life Insurance Company, Franklin India Smaller Companies Fund and Max Life Insurance Company. Shares of Karnataka Bank settled at Rs 225.10 apiece, down 1.53 per cent over the previous close on the BSE.

Karnataka Bank raises Rs 600 cr through qualified institutional placement
Updated On : 28 Mar 2024 | 7:49 PM IST

Breakout stocks: JK Lakshmi Cement, Karnataka Bank can zoom up to 8% ahead

There has been a breakout in Karnataka Bank from downward sloping trend line on the daily chart. Price breakout is accompanied by rising volumes, as per Vijay Rajani

Breakout stocks: JK Lakshmi Cement, Karnataka Bank can zoom up to 8% ahead
Updated On : 06 Mar 2024 | 7:11 AM IST

K'taka Dy CM calls for regaining banking legacy which has disappeared

He further urged Karnataka Bank to think about how to improve the region and to give a report to the government on what can be done regarding this, you have our full support

K'taka Dy CM calls for regaining banking legacy which has disappeared
Updated On : 19 Feb 2024 | 7:49 AM IST

Karnataka Bank Q3 net profit up 10% at Rs 331 cr, gross NPA falls to 3.64%

Private sector lender Karnataka Bank on Tuesday reported a 10 per cent rise in net profit to Rs 331 crore for the third quarter ended December 2023. The bank had earned a net profit of Rs 301 crore in the October-December quarter of 2022. The total income increased to Rs 2,439 crore in the third quarter of the current fiscal compared to Rs 2,055 crore in the year-ago period, Karnataka Bank said in a regulatory filing. In the latest quarter, the bank's interest income rose to Rs 2,113 crore from Rs 1,851 crore in the same period last fiscal. However, the net interest income declined to Rs 828 crore from Rs 835 crore at the end of the third quarter of last year. The gross non-performing asset (NPA) ratio declined to 3.64 per cent as of December 31, 2023. In the year-ago period, it stood at 3.28 per cent. However, the net NPA declined to 1.55 per cent compared to 1.66 per cent at the end of December 2022. The provision coverage ratio stood at 80.75 per cent at the end of December .

Karnataka Bank Q3 net profit up 10% at Rs 331 cr, gross NPA falls to 3.64%
Updated On : 23 Jan 2024 | 8:00 PM IST

Commercial banks rushing to ramp up presence in temple town of Ayodhya

The town has been buzzing with business activities since the temple construction started following the Supreme Court's permission in November 2019. The opening is scheduled for January 22

Commercial banks rushing to ramp up presence in temple town of Ayodhya
Updated On : 18 Jan 2024 | 12:09 AM IST

The good and not so good of Indian banking story

The drop in provisions is a healthy sign - 21 of 32 listed banks have less than 1% net NPAs. But their CASA and NIM are under pressure

The good and not so good of Indian banking story
Updated On : 17 Dec 2023 | 11:57 PM IST

Karnataka Bank eyes second round of equity infusion in the next six months

The proceeds of the issue will be primarily used to meet the needs of the growing business of the bank, including long-term capital requirements

Karnataka Bank eyes second round of equity infusion in the next six months
Updated On : 24 Sep 2023 | 6:19 PM IST

Karnataka Bank gains 4%, hits over 15-year high on fund raising plans

The board of the private sector lender is scheduled to meet on Friday, September 22, 2023 to consider the raising of funds by issue of equity shares / any other equity linked securities.

Karnataka Bank gains 4%, hits over 15-year high on fund raising plans
Updated On : 20 Sep 2023 | 10:00 AM IST

Karnataka Bank announces net profit of Rs 370.70 crore for June quarter

Karnataka Bank has posted a net profit of Rs 370.70 crore during the first quarter of the current financial year as against Rs 114.18 crore recorded during the corresponding quarter of the previous year, with a year-on-year (YoY) growth rate of 224.66 per cent. A meeting of the board of directors of the bank held here on Thursday approved the financial results for the quarter that ended June 30, 2023, a press release here said citing the figures. The operating profit of the bank stood at Rs 601.17 crore and net interest income stood at Rs 814.68 crore during the quarter ended June 30. The business turnover of the bank was at Rs 1,48,449.27 crore as on June 30, 2023, compared to Rs 1,38,936.17 crore in the previous year, registering a YoY growth of 6.85 per cent. The deposits of the bank stood at Rs 86,959.86 crore with a YoY growth of 7.92 per cent and advances at Rs 61,489.41 crore with a YoY growth of 5.36 per cent. The gross NPAs declined to 3.68 per cent, compared to 4.03 per c

Karnataka Bank announces net profit of Rs 370.70 crore for June quarter
Updated On : 03 Aug 2023 | 8:42 PM IST

Karnataka Bank Q1 results: Net profit rises 224.7% on better NIMs

The bank saw a marked increase in net interest income and non-interest income during the quarter

Karnataka Bank Q1 results: Net profit rises 224.7% on better NIMs
Updated On : 03 Aug 2023 | 5:30 PM IST

Karnataka Bank Q4 results: Net profit up 171.5%, dividend declared

The Bank's annual consolidated net profit stood at Rs 1,179.68 crore for FY23

Karnataka Bank Q4 results: Net profit up 171.5%, dividend declared
Updated On : 28 May 2023 | 3:27 PM IST

Karnataka Bank appoints Srikrishnan Harihara Sarma as MD and CEO

Sarma has nearly four decades of experience spread across commercial, retail & transactional banking, technology, and payments

Karnataka Bank appoints Srikrishnan Harihara Sarma  as MD and CEO
Updated On : 26 May 2023 | 9:05 PM IST

MCC Bank records pre-tax profit of Rs 12.20 cr in FY23, cuts NPA level

The Mangalore Catholic Cooperative (MCC) Bank, one of the pioneers of cooperative banks in Karnataka, has recorded a pre-tax profit of Rs 12.20 crore in the 2022-23 financial year. The 111-year-old bank has been progressively reducing the non-performing assets (NPA) and for the first time in recent years, reduced the level to 1.37 per cent, a bank release said here on Thursday. The bank has 16 fully computerised branches spread across Dakshina Kannada and Udupi districts. With its operations now confined to the parent districts of Dakshina Kannada and Udupi districts since its inception in 1912, the bank is all set to expand its area of operations to five more districts. The bank has decided to open branches in Uttara Kannada, Shivamogga, Chikkamagaluru, Hassan and Kodagu districts, with the efforts of the team led by chairman Anil Lobo. Lobo said the bank has recorded substantial growth in business and financial parameters in the financial year that ended on March 31, 2023, with

MCC Bank records pre-tax profit of Rs 12.20 cr in FY23, cuts NPA level
Updated On : 13 Apr 2023 | 2:49 PM IST

RBI permits Karnataka Bank to collect direct, indirect taxes for CBDT, CBIC

The Reserve Bank of India has authorised private sector lender Karnataka Bank to collect direct and indirect taxes on behalf of CBDT and CBIC. This has been done on the recommendation from the Controller General of Accounts (CGA), Ministry of Finance, Karnataka Bank said in a regulatory filing on Tuesday. Bank customers are already enjoying seamless online payments for custom duty by selecting Karnataka Bank in the Indian Customs Electronic Gateway 'ICEGATE' portal of CBIC, it added. The (ICEGA TE) portal of the Central Board for Indirect Taxes and Customs (CBIC) provides e-filing services to the trade, cargo carriers and other trading partners electronically, the statement said.

RBI permits Karnataka Bank to collect direct, indirect taxes for CBDT, CBIC
Updated On : 12 Apr 2023 | 5:24 PM IST

Stocks to Watch: Tata Motors, ONGC, Maruti, HAL, RVNL, HG Infra, JSW Energy

Stocks to Watch: Oil related stocks like ONGC/Oil India/RIL/ refiners will be in focus as crude jumped 8 per cent following a surprise output cut by the OPEC+

Stocks to Watch: Tata Motors, ONGC, Maruti, HAL, RVNL, HG Infra, JSW Energy
Updated On : 03 Apr 2023 | 8:14 AM IST

Nifty needs to close above 18,730 to resume rally, says Vinay Rajani

The technical & derivative analyst from HDFC Securities recommends buying NLC India and Karnataka Bank among individual stocks.

Nifty needs to close above 18,730 to resume rally, says Vinay Rajani
Updated On : 14 Dec 2022 | 8:03 AM IST