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karnataka bank shares: Karnataka Bank shares tank 12% on lower YoY NIMs, higher GNPA

Karnataka Bank reported the December quarter NII at Rs 827.60 crore down by 0.86% from Rs 834.76 crore reported in the year-ago period. Meanwhile, the NIMs were lower by 35 bps at 3.46% for the October-December quarter versus 3.81% reported in Q3FY23.

Karnataka Bank shares plunge 12 6% after Q3 earnings, hit 2-week low

The bank s gross non-performing assets (NPA) experienced a YoY increase of 36 basis points, reaching 3.64% in Q3 FY24. However, the net NPA recorded an 11-basis point decrease, declining to 1.55%.

Karnataka Bank Q3 Results: Net profit rises 10% YoY to Rs 331 crore

The bank has also posted an all-time high net profit for nine months of this fiscal year at Rs 1,032 crore as against Rs 826.5 crore earned during the corresponding period of the previous year, registering a year-on-year growth of 25%.

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