Private sector lender Karnataka Bank has
posted a 10.13 percent rise in net profit at Rs 133.85 crore for the first
quarter of the current fiscal.
The bank had reported a net
profit of Rs 121.54 crore in the April-June quarter of 2016-17.
The total income of the bank
increased to Rs 1,547.93 crore as against Rs 1,434.96 crore a year ago, it said
in a regulatory filing.
Provisions to cover bad loans
and contingencies increased to Rs 198.88 crore for the June quarter of 2017-18
from Rs 136.31 crore a year ago.
In terms of asset quality,
gross NPAs (non-performing assets) or bad loans rose to 4.34 percent of gross
loans as on June 30, 2017 from 3.92 percent a year ago.
Net NPAs were 3.20 percent,
up from 2.61 percent a year ago.
"The
encouraging growth in advance and the resultant increase in operating profit
are two major achievements which will set a tone for the future growth
story," the bank's Managing Director and CEO Mahabaleshwara M S said.
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