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Karnataka Bank Q4
net up 46 per cent
Our Banking Bureau
30 May 2005  Mangalore:
Karnataka Bank has registered a net profit of Rs40.25 crore in the quarter
ended March 2005 against Rs27.55 crore in the corresponding period of the
previous year. The quarter on quarter growth is 46 per cent.
The
bank registered a net profit of Rs147.15 crore during 2004-05 against Rs133.17
crore in the previous year. The growth is 10.5 per cent. Karnataks
bank chairman and CEO Anantakrishna said that the bank had provided for depreciation
on account of transfer of SLR securities from `available for sale' category
to `held to maturity' category as permitted by the Reserve Bank of India and
also for the impact on wage revision. In
a press release, the bank stated that it has proposed a dividend of 20 per
cent on the expanded capital base. During
2004-05, the bank recorded an operating profit of Rs340.71 crore (Rs329.79
crore). As on March 31, 2005, the net NPA stood at 2.29 per cent (4.98 per
cent on March 31, 2004). The
capital adequacy ratio, which was 13.03 per cent as on March 31, 2004, increased
to 14.16 per cent in the last fiscal. The
net-owned funds had crossed the Rs1,000-crore mark. The
bank has networked 276 offices under core-banking solution, covering 92 per
cent of business. The bank will increase the number of branches to 400 in
the next year.  During
2004-05, the bank crossed a total business of Rs17,000 crore. Deposits grew
15.2 per cent to touch Rs10,837 crore, and advances by 34.7 per cent to Rs6,287
crore.
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