Karnataka Bank saw its net profit
grow 33.25% to 106.7 Cr in the third quarter of 2013-14. P. Jayarama Bhat,
Managing Director, attributed the net profit growth to the 19.2% rise in net
interest income and lower slippages compared to the first and second quarters of
this fiscal. The NII increased to 271.50 Cr (227.80 Cr). The net NPA reached
2.23% (2.19%) during the period. On the outlook for the fourth quarter of
2013-14, he said: “We should grow better than all these three quarters, and we
are looking at a guidance of around 2.75% for NIM (net interest margin) and
return on assets (RoA) of 1%. The RoA was 0.96% for Q3 of 2013-14 and 0.71% for
the nine-month period. The deposits stood at 38,683 Cr (34,620 Cr), and advances
at 27,005 Cr (23,404 Cr). The bank’s effort to increase the retail loan book has
started yielding results, he said.
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