Mangaluru: Karnataka Bank records all time high net profit of Rs 507.99 Cr


Media release

Mangaluru, May 27: Karnataka Bank has posted an all-time high annual consolidated net profit of Rs 507.99 crore for the FY 2021-22 as against the last year’s Rs 482.46 crore. The net profit for the fourth quarter ending March 2022 is Rs 130.20 crore as against the net profit of Rs 31.36 crore for the corresponding fourth quarter of FY 2020-21, registering more than 4 times increase in the net profit.

In a meeting of the board of directors held on Friday, May 27 here, the audited annual financial results for the period ended March 31, 2022 waas approved and also a dividend of 40 % to be approved in the ensuing annual general meeting was recommended.

The business turnover of the bank was at Rs1,37,169.88 crore as on 31-03-2022 compared to Rs 1,27,348.19 crore as on 31-03-2021 registering a YoY growth of 7.71%.

The deposits of the bank stood at Rs 80,386.74 crore with a YoY growth of 6.25% and advances at Rs 56,783.14 crore with a YoY growth of 10.22 %. The CASA deposits grew by 11.23% and reached an all time high of 32.97% of total deposits as on 31-03-2022, as against 31.49 % as on 31-03-2021.

PCR (Provision Coverage Ratio) improved to 73.47 % from 69.99 % as on 31-03-2021.

The CRAR (Capital to Risk Weighted Assets Ratio) of the bank under Basel III has reached a new high of 15.66 % as against 14.85 % as on 31-03-2021.

The Non Performing Assets [NPA] have also moderated. The GNPAs [Gross Non Performing Assets] of the bank stood at Rs 2,250.82 crore constituting 3.90 % as on 31-03-2022 as against Rs2,588.41 crore constituting 4.91% as on 31-03-2021. Similarly, the NNPAs [Net Non Performing Assets] also moderated to Rs 1,376.97 crore constituting 2.42% from Rs. 1,645.05 crore as on 31-03-2021 constituting 3.19 %.

The priority sector advances of the bank stood at 56.41 % of the total advances as against the minimum stipulated target of 40 % by RBI.

Expressing his happiness over the performance of the Bank, Mahabaleshwara M S, managing director and CEO of the bank said, “The results hold testimony for the hard work done under the transformation journey of the bank. It is very satisfying to note the all time high net profit of Rs 507.99 crore, CRAR of 15.66 % and PCR of 73.47%.

Similarly CASA has also reached a new high of 32.97% resulting in further reduction in cost of lending resources. The asset quality has further improved as could be seen from the lower GNPA and NNPAs. The consistent and sustainable performance is very much evident and I am confident that going forward Bank is all set for a new high.”

 

 

 

 

 

 

 

  

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Comment on this article

  • Rudolf Rodrigues, Mumbai

    Sat, May 28 2022

    Despite good results, shares are stagnating since long. Many investors trapped at high levels are waiting to exit! MKT knows something that it has just ignored this stock for too long!

    DisAgree [2] Agree [3] Reply Report Abuse

  • k b r, Mangala Uru

    Sat, May 28 2022

    they will never be darling of market due to some limitations / ground reality...

    DisAgree [2] Agree [3] Reply Report Abuse

  • Rudolf Rodrigues, Mumbai

    Sat, May 28 2022

    They do not want any outsiders to enter the inner circle for obvious reasons, which behaviour Market hates!

    DisAgree [1] Agree [2] Reply Report Abuse

  • Manoj, Mangalore.

    Sat, May 28 2022

    Thanks to MODIJi and NIRMALAji...

    DisAgree [9] Agree [4] Reply Report Abuse

  • Chandu, Karla

    Sat, May 28 2022

    Yenchina karmaya.....undhoo Karnataka bank..... Baniya bank atth marayaa... mokhul salaa kornaga pattav nagaleg korpujer ava.... Wah namoonehdha janakul devere....Yenchina ambhee thinpera moghool ........!!!!????

    DisAgree [2] Agree [4] Reply Report Abuse

  • k b r, Mangala Uru

    Sat, May 28 2022

    Yes... private capitalists made life time fortune thanks to the people mentioned by you......

    DisAgree Agree [4] Reply Report Abuse

  • Kiran Poojary, Bengaluru/Mangaluru

    Sat, May 28 2022

    Congratulations sir, we are very very proud of you. Karnataka Bank is pride of Tuluvas and Kannadigas. Please stay as a private bank only for ever. Otherwise it will be merged with some fraud bank of Gujjus.

    DisAgree [4] Agree [9] Reply Report Abuse

  • Jossey Saldanha, Raheja Waterfront

    Sat, May 28 2022

    Luckily Ambani & Adani do not operate in Karnataka ...

    DisAgree [5] Agree [9] Reply Report Abuse

  • Ben D'Souza Prabhu, Mangalore, Bombay Bandra now in Canada

    Fri, May 27 2022

    Greatly Happy to hear these Good Encouraging News of our own Karnataka Bank for this year ! Praying that the Lord may Bless the present Management so that the Results go to the Comman man !!!

    DisAgree [10] Agree [5] Reply Report Abuse

  • Pintu Singh, Kudla

    Fri, May 27 2022

    Great News! Development All around. "... hain toh mumkin hain...". No more dark days of pre 2014

    DisAgree [24] Agree [6] Reply Report Abuse

  • Prakash, Dubai

    Fri, May 27 2022

    Pinku, prior to 2014 all Banks were making profits. Only when panvati took over all bank started merging in cowdong.

    DisAgree [2] Agree [14] Reply Report Abuse

  • k b r, Mangala Uru

    Sat, May 28 2022

    oye shinga... this bank is private sector... their profit does not mean any thing to common man... private sector (i.e. baniya) having hey dey since 2014...

    DisAgree [1] Agree [12] Reply Report Abuse

  • Cynthia, Dk

    Sat, May 28 2022

    🤣🤣🤣....true. by seeing the development, hope evil eyes wont fall on this bank like our vijaya, corporation etc. I hope, this great personality wont allow karnataka bank to get merged with some other north indian bankurupt banks....Giving loans and chasing them from here. Disgusting govt

    DisAgree [2] Agree [16] Reply Report Abuse

  • John Tauro, M'lore

    Sat, May 28 2022

    Vijaya Bank and Corporation Bank of coastal region were also profit making banks. Unfortunately these were pushed into the dark never to be seen again. These banks had every right to retain their names, which our useless politicians couldn't.

    DisAgree [2] Agree [4] Reply Report Abuse

  • Surendra Poojari, Mangalore

    Sat, May 28 2022

    Pintu Singh...at least read the history of bank and then comment.....

    DisAgree [1] Agree [4] Reply Report Abuse


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