Karnataka Bank profit jumps 62% on strong Q4 performance, asset quality gains
Karnataka Bank reported strong quarterly growth with net profit rising sharply, driven by higher operating profit and improved asset quality. Annual profit rose modestly, while NPAs declined significantly, reflecting healthier balance sheet trend...
By Atmadip Ray, ET Bureau |
ETMarkets.com
Private sector Karnataka Bank reported a 62% jump in fourth quarter net profit at Rs 408 crore as compared with Rs 252 crore in the year ago period.
Its pre-provision operating profit stood 64% higher at Rs 615 crore against Rs 375 crore. Provisions were Rs 90 crore against Rs 31 crore earlier.
The bank's annual net profit stood at Rs 1311 crore in FY26 as compared with Rs 1272 crore in the preceding fiscal.
Gross non-performing assets came down to 2.78% at the end of March 31 from 3.08% a year prior. Net NPA stood at 0.98% against 1.31%.
The bank board recommended a final dividend of Rs 5 per equity share which is 50% of the face value of Rs 10 each per equity share for the financial year ended March 31, 2026.
Its pre-provision operating profit stood 64% higher at Rs 615 crore against Rs 375 crore. Provisions were Rs 90 crore against Rs 31 crore earlier.
The bank's annual net profit stood at Rs 1311 crore in FY26 as compared with Rs 1272 crore in the preceding fiscal.
Gross non-performing assets came down to 2.78% at the end of March 31 from 3.08% a year prior. Net NPA stood at 0.98% against 1.31%.
The bank board recommended a final dividend of Rs 5 per equity share which is 50% of the face value of Rs 10 each per equity share for the financial year ended March 31, 2026.
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