The Mangaluru-headquartered Karnataka Financial institution has posted an all-time excessive internet revenue of Rs 1,032.04 crore for the 9 months of the monetary yr ending December 2023, as towards Rs 826.49 crore earned in the course of the corresponding interval final yr.
The financial institution has registered a year-on-year progress of 25 p.c in the course of the interval. For Q3FY of 2023-24, the financial institution posted a internet revenue of Rs 331.08 crore with a progress fee of 10.11 p.c as towards Rs 300.68 crore in the course of the corresponding interval earlier yr, a financial institution launch mentioned.
The assembly of the board of administrators held on Tuesday at Mangaluru authorised the monetary outcomes for the quarter and 9 months interval ended December 31, 2023.
The financial institution has clocked a report enterprise turnover of Rs 1,61,936.36 crore as on 31-12-2023, with a YoY progress fee of 9.22 p.c, with advances of Rs 69,740.97 crore registering YoY progress of 9.53 p.c and deposits of Rs 92,195.39 crore, registering YoY progress of 8.98 p.c.
The asset high quality additionally improved in the course of the interval. The GNPA has declined by 10 bps to three.64 p.c from 3.74 p.c as in comparison with March 2023. Equally, the NNPA additionally declined by 15 bps to 1.55 p.c from 1.70 p.c, the discharge added.
Karnataka Financial institution CEO and managing director H Srikrishnan, who introduced the outcomes, mentioned the all-round efficiency was the results of operational effectivity and transformational adjustments launched by the financial institution.