Karnataka Bank on Thursday, August 3, announced posting ₹370.7 crore net profit for the first quarter ending June 30, 2023 as against ₹114.18 crore registered during Q1 of 2022-23, a year-on-year growth of 224.66%.
The Board of Directors approved the financial results for the quarter ended June 30 at their meeting held in Mangaluru, said a press release.
The operating profit of the bank stood at ₹601.17 crore and the net interest income was at ₹814.68 crore in Q1. The business turnover was at ₹1,48,449.27 crore compared to ₹1,38,936.17 crore of Q1 of 2022-23. The deposits of the bank stood at ₹86,959.86 crore with a YoY growth of 7.92% and the advances at ₹61,489.41 crore with a YoY growth of 5.36%.
