*🚨Karnataka Bank's Q1 Earnings💹*
- *Record Q1 Profit*: Karnataka Bank has reported a record Q1 profit of Rs 400.33 crore, surpassing last year's Q1 profit of Rs 370.70 crore ¹.
- *Net Interest Income*: The bank's net interest income increased to Rs 814.68 crore during Q1 of 2023-24, against Rs 687.56 crore in Q1 of 2022-23 ².
- *Other Income*: The bank's other income stood at Rs 323.84 crore in Q1 of 2023-24, against Rs 132.79 crore in Q1 of 2022-23.
- *Provisions and Contingencies*: The bank's provisions (other than tax) and contingencies stood at Rs 151.57 crore in Q1 of 2023-24, against Rs 362.90 crore in Q1 of 2022-23.
- *Gross NPAs*: The bank's gross NPAs declined to 3.68% in Q1 of 2023-24, against 4.03% in Q1 of 2022-23.
- *Net NPAs*: The bank's net NPAs also declined to 1.43% in Q1 of 2023-24, against 2.16% in Q1 of 2022-23.
- *Provision Coverage Ratio*: The bank's provision coverage ratio increased to 83.47% in Q1 of 2023-24, against 80.86% in Q4 of 2022-23.
- *Capital Adequacy Ratio*: The bank's capital adequacy ratio improved to 17% in Q1 of 2023-24, against 15.51% in Q1 of 2022-23.
