Karnataka bank’s NII has improved by 10.4% yoy to Rs468.6cr as against Rs 424.4cr. It’s net profit for the quarter was above estimates, which has come at Rs163.2cr against Rs133.8cr yoy, which is up by 22%. NIMs for the quarter has improved by 3 bps yoy to 3%. GNPA for Q1FY19 stood at 4.72% against 4.92% qoq, which has declined by 20bps. NNPA for the quarter stands at 2.92% against 2.96% qoq, which has declined by 4bps.
The deposits of the bank for the quarter grew from Rs56,227cr to Rs62,725cr with a yoy growth rate of 11.56%.
Advances for the quarter grew from Rs38,405cr to Rs47,731cr with a yoy growth rate of 24.28%. Managment guided that advances for FY19 would grow by more than 20%.
The bank sees strong traction in mortgage backed loans. This book’s ticket size is Rs5cr to Rs50cr. These
mainly consist of commercial properties and malls.
Retail advances to corporate advances ratio stood at 45: 55.
Yield on advances stood at 9.29% against 10.22% yoy. Cost of deposits dropped to
5.88% against 6.33% yoy.
Deposits of the bank grew by 11% yoy. CASA proportion decreased from 28.9% to
27.33% yoy. C-D ratio for the bank increased to 76.1% against 68.3% yoy.
The CD ratio has improved to 76.1% from 68.3%, as on Q1FY19 end.
Bank's CRAR and PCR as of Q1FY19 end stood at 11.6% and 57.21% respectively.
There are 3 cases which have been referred to NCLT. Provisions of 76% on this have been made. In Q1FY19 Rs80cr was charged into provisions. No portfolios were sold to ARCs in this quarter.
Cost-to-income ratio stood at 45.54% vs. 51% yoy.
Credit cost is expected to be around 50bps in the coming quarters. And PCR is expected to remain
Karnataka Bank Ltd ended at Rs124.25, up by 5.7 points or 4.81% from its previous closing of Rs118.55 on the BSE.
The scrip opened at Rs119.85 and has touched a high and low of Rs127.15 and Rs118.55, respectively. So far 1,60,72,209 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.
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