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Karnataka Bank has exhibited consistency in its financial performance in all the three quarters of 2018-19, according to Mahabaleshwara MS, Managing Director and CEO of the bank.
Speaking at the Founders’ Day celebration of the bank in Mangaluru on Monday, he said the bank achieved a net profit of ₹163.24 crore during the June quarter of 2018-19, ₹111.86 crore during the September quarter, and ₹140.41 crore during the December quarter of the current financial year.
“You might have already noticed commonality in all three quarters. It is for the first time that the bank has achieved a hat-trick of centuries in net profit in all the first three quarters of the fiscal,” he said.
Explaining the steps taken by Karnataka Bank, he said the bank had launched various initiatives during 2018. These are aimed at long-term growth of the bank. The bank has received good market attention in view of its transformation journey and financial achievements, he said.
The lender added 38 new branches and 140 e-lobbies, taking the total number of branches to 835 and e-lobbies to 300 in 22 States and two Union Territories during the current fiscal.
The business turnover of the bank stood at ₹1.17 lakh crore, and customers’ base stood at 1 crore during the third quarter of 2018-19.
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