Karnataka Bank Q2 profit rises 37% to Rs 436 cr

Mangaluru: Karnataka Bank reported a 37% year-on-year rise in net profit to Rs 435.8 crore for the September quarter, compared with Rs 319 crore in the corresponding quarter last year. Total income rose to Rs 2,794 crore in the September quarter compared to Rs 2,523 crore in the year-ago period. Its aggregate business touched an all-time high of Rs 2,07,132 crore, according to financial results approved by the board at a meeting in Mangaluru on Wednesday.Managing director and CEO Raghavendra S Bhat said the record aggregate business and net profit reflected the bank’s focus on steady growth, financial discipline and customer-centric banking.He said the improvement in asset quality was supported by disciplined underwriting, stronger recovery measures, and continuous monitoring of credit portfolios. The bank was also accelerating its digital transformation by upgrading its technology infrastructure and using data-driven insights to improve customer experience and internal productivity, he added.Executive director Biji SS attributed the performance to disciplined execution, a strong operational foundation and employee commitment. She said the bank would continue to focus on collection efficiency, customer engagement, technology upgrades, and employee capability-building.You use AI every day. Now get your AI Quotient. Take the AIQ test.