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Karnataka Bank's net NPA will be below 3% by FY19, says CEO Mahabaleshwara

finance | Jan 21, 2019 11:33 AM IST

Karnataka Bank's net NPA will be below 3% by FY19, says CEO Mahabaleshwara

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Karnataka Bank posted a near 61 percent jump in net profit during the third quarter of 2018-19. Mahabaleshwara MS, MD and CEO of Karnataka Bank, spoke to CNBC-TV18 about the results.

Karnataka Bank posted a near 61 percent jump in net profit during the third quarter of 2018-19. Mahabaleshwara MS, MD and CEO of Karnataka Bank, spoke to CNBC-TV18 about the results.

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“Q3 was very much on the expected lines. There was a good growth momentum both in terms of the business as well as in terms of the advances. Advances is growing at around 17 percent and I am confident that by March 2019, we would be able to get advances growth of more than 18 percent,” Mahabaleshwara said on Monday.
“Our gross non-performing assets (NPAs) which was at 4.92 percent had come down to 4.66 percent as of September 2018 and now it is at 4.45 percent. However, amountwise also it was at Rs 2,376 crore and now it is at Rs 2,346 crore. It would have been still lesser, had I not been able to recognise IL&FS as the NPA. Otherwise our gross NPA would have been Rs 2,191 crore in fact we have showed it as Rs 2346 crore by recognising Rs 155 crore,” he added.
“I am optimistic that Q4 would be an interesting quarter for Karnataka Bank,” said Mahabaleshwara.
 
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