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Karnataka Bank: 30 pc growth

The net profit of Karnataka Bank, headquartered here, for the second quarter of the current fiscal has increased to Rs. 69.17 crores from Rs. 52.97 crores in the corresponding period in the previous year, registering a growth of over 30 per cent. The gross income increased to Rs. 595 crores from Rs. 492 crores, according to a bank release.

The operating profit also rose from Rs. 109 crores to Rs. 190 crores. Total business of the bank has crossed Rs. 12,700 crores. The bank is aiming at total business turnover of Rs. 15,000 crores by the end of the current fiscal.

The bank recently tied up with Bharat Overseas Bank, Sangli Bank and Ratnakar Bank to provide inbound international money transfer services through their branches in India.

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