Karnataka Bank net profit jumps to Rs. 88.46 cr

Karnataka Bank recorded a net profit of Rs88.46 crore in the second quarter of 2014-15 as against Rs28.95 crore in the corresponding period of the previous fiscal, registering a growth of 205.56 per cent.

During the quarter, the net interest income (NII) of the bank stood at Rs297.27 crore (Rs284.54 crore), and the other income at Rs102.77 crore (Rs87.80 crore).

There gross NPA of the bank was at 3.53 per cent (3.59 per cent), and net NPA at 2.37 per cent (2.25 per cent).

Provisions (other than tax) and contingencies came down to Rs83.64 crore during the second quarter of 2014-15 as against Rs126.71 crore in the corresponding period of the previous fiscal.

Source : The Hindu