The Karnataka Bank Limited — Updates, 31-01-2025: Press Release

Karnataka Bank has recorded an all-time high aggregate business of ₹1,77,978.27 crore, alongside a net profit of ₹1,020 crore for the nine months of FY 25. For Q3 FY 2024-25, the bank's net profit stood at ₹283.60 crore, down from ₹331.08 crore year-on-year, primarily due to a change in the accounting treatment of investment income—if the previous policy had been maintained, profit before tax would have increased by ₹100.64 crore.

Gross advances increased 11.64% year-on-year to ₹77,859.75 crore, while aggregate deposits grew 8.59% to ₹1,00,118.52 crore. The asset quality has seen improvement, with gross NPAs reducing by 42 basis points to 3.11% and net NPAs by 19 basis points to 1.39% compared to March 2024. The provision coverage ratio has remained stable at 80.64%. Management expresses optimism about leveraging digital transformation and improved customer experience to drive sustained growth, despite a challenging macroeconomic environment. Positive outlook ahead!