Company Profile For The Karnataka Bank Ltd

The Karnataka Bank Ltd (KBNK.BO) (Bombay Stock Exchange)

sector: Financials · industry: Banks ·

As of 24 Nov 2009

126.85INR

Price Change

-0.60

Percent Change

-0.47%

Analyst Recommendations

Overview

The Karnataka Bank Ltd. is a private sector bank that operates in four segments: treasury, corporate/wholesale banking, retail banking and other banking operations. During the fiscal year ended March 31, 2009, the Bank opened 16 branches. Further, the Bank added 30 automated teller machines (ATM) outlets at various locations during fiscal 2009. As on March 31, 2009, the Bank had 447 branches, 171 ATM outlets, eight regional' offices, one International division, one data centre, one customer care centre, five service branches, two currency chests, six extension counters and two central processing centres, spread across 19 states and two Union Territories. The bank has entered in to a joint venture agreement and holds equity investments to the extent of 15% in M/s Universal Sompo General Insurance Company Limited.

Quick Financial Synopsis

BRIEF: For the six months ended 30 September 2009, Karnataka Bank Limited's interest income increased 5% to RS9.72B. Net interest income after loan loss provision decreased 47% to RS7.9M. Net income decreased 40% to RS564.1M. Net interest income reflects an increase in income from investments, offset by an increase in the loan loss provision. Net income reflects an increase in operating expenses and higher employees cost.