more-inKarnataka Bank on Tuesday announced posting of ₹325.61 crore net profit for the financial year 2017-18 and proposed 30% dividend to its shareholders. A release said that the bank’s business turnover touched ₹1,10,123 crore by the financial-year-end registering 17.59% growth while its deposits grew from ₹56,773 crore to ₹62,871 crore during the year. Advances given by the Bank too increased from ₹36,916 crore to ₹47,552 crore registering a growth of 28%. Bank’s operating profit increased to ₹1,473.16 crore from ₹995.8 crore during the period while its net interest income increased to ₹1,857.64 crore from ₹1,490.62 crore even as the net interest margin too increased to 3.18% as against 2.79%. Bank Managing Director and CEO M.S.

Source: The Hindu May 15, 2018 19:38 UTC