Karnataka Bank reports record profit in Q4

Bengaluru: Mangaluru-headquartered private sector Karnataka Bank on Monday announced its highest ever net profit of Rs. 477 crore for the financial year 2018-19, recording a growth rate of 47%. The previous highest net profit was reported two years ago.

Bank has also reported a net profit of about Rs 62 crore for January-March quarter, compared to Rs 11 crore in the same period last year.

The Bank’s Board announced a 35% dividend.


The bank’s business turnover has touched Rs 1,23,280 crore as on March 31.

On achieving highest ever net profit, bank’s Managing Director M S Mahabaleshwara said it had been possible on account of consistent and sustained growth. “This is the first full year of KBL – VIKAAS, the transformation initiative of the Bank, which is centered around Credit, IT, HR etc. This initiative has started bearing result as KBL is now functioning as ‘one bank, one team’.