The Karnataka Bank (KTKBANK) Q4 00/01 earnings summary

Executive summary

• FY 2000-01 operating profit rose to Rs. 136.07 crore from Rs. 80.81 crore, while net profit was Rs. 4,540.86 lakh versus Rs. 5,826.85 lakh.

• Deposits grew 17.42% to Rs. 6,075.50 crore, net advances rose 15.37% to Rs. 2,828.22 crore, and total business increased 16.76% to Rs. 8,903.72 crore.

Financial highlights

• Total income reached Rs. 743.37 crore, including interest earned of Rs. 653.89 crore and other income of Rs. 89.48 crore.

• Operating expenses were Rs. 105.41 crore; provisions and contingencies rose to Rs. 90.66 crore from Rs. 40.10 crore.

• Net investments increased 35.11% to Rs. 2,787.01 crore; foreign-exchange turnover rose to Rs. 3,019.46 crore from Rs. 2,782.39 crore.

Key financial ratios and metrics

• Capital adequacy was 11.37%, up from 11.04%; Tier 1 was 11.06% and Tier 2 was 0.31%.

• Net NPA to net advances increased to 6.93% from 5.73%; return on assets was 0.73% versus 0.77%.

• Operating profit to working funds improved to 2.27% from 1.57%; business per employee rose to Rs. 210.28 lakh from Rs. 177.68 lakh.

• Export credit was 14.90% of net bank credit, above the 12% regulatory minimum.