The Karnataka Bank (KTKBANK) Q4 99/00 earnings summary

Executive summary

• FY2000 net profit rose to Rs 58.26 crore from Rs 42.45 crore; deposits, advances and total income also increased YoY.

• Expanded the branch network to 347 branches and continued computerization; 140 branches were fully or partly computerized by year-end.

Financial highlights

• Total income reached Rs 650.29 crore vs Rs 539.67 crore; interest earned was Rs 578.04 crore vs Rs 491.39 crore.

• Other income increased to Rs 72.25 crore from Rs 48.28 crore; net profit on investment sales was Rs 16.17 crore vs Rs 0.79 crore.

• Interest expense rose to Rs 463.83 crore from Rs 375.29 crore; operating expenses increased to Rs 105.65 crore from Rs 92.12 crore.

Segment performance

• Deposits increased 18.07% to Rs 5,174.17 crore, exceeding banking-sector growth of 13.5%; non-resident deposits rose to Rs 430.75 crore from Rs 386.20 crore.

• Net advances rose 19.78% to Rs 2,451.43 crore; priority-sector advances reached Rs 916.02 crore, including eligible commitments equal to 44.08% of net bank credit.

• Export credit was 17.24% of bank credit, above the 12% RBI minimum; foreign-exchange turnover totaled Rs 2,783.39 crore.