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Karnataka
Bank Q1 net up 68%
Our
Banking Bureau
1 August 2003
 Mangalore:
Karnataka
Bank has recorded a net profit of Rs 34.74 for the quarter
ended June 20003. The net profit has grown by 67.50 per
cent compared to the corresponding period last year.
 According
to a bank press release, the gross income of the bank
increased from Rs 239.31 crore to Rs 319.38 crore at the
end of June. Its operating profit rose from Rs 42.85 crore
to Rs 112.90 crore.
The
capital adequacy ratio stood at 14.27 per cent, above
the  Reserve
Bank of India-stipulated level of 9 per cent. The bank
has set a target to take the deposit to Rs 10,000 crore
and advances to Rs 5,000 crore by March 2004.
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