Karnataka Bank Q3 Profit Drops 14% YoY

31 Jan 2025 , 12:11 AM

Karnataka Bank reported a net profit of ₹283.6 crore for Q3 FY25, down 14.3% YoY from ₹331 crore in the same period last year. Net Interest Income (NII) declined 4.2% YoY to ₹792.8 crore, compared to ₹827.6 crore in Q3 FY24, reflecting margin pressures.

Gross Non-Performing Assets (GNPA) improved to 3.11%, down from 3.21% in the previous quarter, showing better loan book quality. Net NPA (NNPA) also declined to 1.39%, compared to 1.46% in Q2 FY25, highlighting improved risk management.

Total business reached a record ₹1.78 trillion, with gross advances rising 11.64% YoY to ₹77,859.75 crore and deposits growing 8.59% YoY to ₹1,00,118.52 crore. CEO Srikrishnan credited the growth to transformative initiatives, retail and mid-corporate expansion, and digital adoption, while Executive Director Sekhar Rao emphasized operational efficiency and risk management.