Karnataka Bank Q2 net up 20% at Rs 112 cr on lower provisions
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Karnataka Bank Q2 net up 20% at Rs 112 cr on lower provisions

Private sector Karnataka Bank Friday posted a 20 per cent increase in its net profit at Rs 111.86 crore in the second quarter ended September 2018 on lower provisioning for bad loans and healthy core income. Bank s net profit in the corresponding July-September quarter of 2017-18 was at Rs 93.38 crore. Total income of the bank increased to Rs 1,653.81 crore in the second quarter of 2018-19, from Rs 1,565.75 crore in the same period of the preceding fiscal, the bank said in a regulatory filing. Bank s earnings from interest moved up to Rs 1,452.61 crore during the September quarter as against Rs 1,317.93 crore in the year-ago period. The asset quality has moderated and is showing signs of turnaround, the bank said in a statement. Further, stress in the pipeline, especially in terms of SMA2 (special mention accounts-2), MSME dispensation accounts, restructured advances has considerably eased, the bank said. On asset quality, the net non-performing assets (NPAs) came down to 3 per cent ..

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