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Karnataka Bank
Mangaluru-headquartered Karnataka Bank has posted an all-time high quarterly net profit of Rs 411.47 crore for the quarter ended Sept-2022. This shows growth in net profit by 228 percent, compared to the Sept 2021 quarter net profit of Rs 125.45 crore. The director board of the bank, at its meeting held here on Tuesday, approved the financial results for the quarter and the half year that ended September 30, 2022. During the half year period, the net profit stood at Rs 525.52 crore, which is also an all-time high against Rs 231.36 crore of September 2021, a bank release said here Wednesday. For the quarter ending September 2022, the net interest income also increased by 26 percent to Rs 802.73 crore from Rs 637.10 crore. The NPAs have also further moderated as the GNPAs reduced to 3.36 percent against 4.03 percent as of June 30, 2022 , while NNPAs also reduced to 1.72 percent against 2.16 percent as of June 30. The business turnover of the bank has touched a new high of Rs 1,41,50
Toyota Kirloskar Motor (TKM) on Monday said it has partnered with Karnataka Bank to finance its vehicles across cities and towns in India. The company has signed a memorandum of understanding with Karnataka Bank, following which the bank will be one of the preferred financiers for the entire range of vehicles sold by TKM. The finance options at competitive interest rates will be available to customers, including those covered under priority sector schemes, for purchasing Toyota vehicles for private and commercial use, TKM said in a statement. "To meet the growing demand and improve the sales experience of our customers in both metros as well as smaller markets, we are looking to further expand the reach of Toyota products across the country with a sharp focus on rural markets," TKM Vice President (VP), Strategic Business Unit R Venkatakrishnan said. With this collaboration, he said, "We have focused on designing innovative schemes to suit the customer needs while also providing eas
Karnataka Bank on Wednesday launched KBL FASTag for seamless movement of vehicles at toll plazas by facilitating automatic deduction of the toll amount. Karnataka Bank launched its KBL FASTag, a pre-loaded payment instrument to facilitate seamless movement of vehicles at the toll plazas across India, in association with NPCI and Worldline, the FASTag processor, the bank said in a release. Mahabaleshwara MS, Managing Director and CEO of the Bank said: "The FASTag facilitates the users with the ease and convenience during transit through the toll plaza by saving time, fuel and money". Customers can procure FASTag through the bank's website or by approaching the nearby branch, said the lender. A FASTag can be pre-loaded digitally for the required amount and can be recharged online through credit card, debit card, net banking, IMPS, among others. While driving through a toll plaza, the applicable toll amount gets automatically debited through the sensors at the plaza and the driver ge