Daijiworld Media Network - Mangalore (SN/SP)

Mangalore, Jan 24: Karnataka Bank Ltd, a leading bank from the district in the private sector, has recorded net profit of Rs.183.56 crore during the quarter ended December 31, 2008.

In the corresponding quarter pertaining to the previous year, its net profit stood at Rs 180.96 crore. The Bank has registered a quantum leap of 18.74% in terms of total business. Its deposits and advances also shot up by 21.11% and 15.12% respectively.

In the last quarter of 2008, the interest income of the bank increased from Rs 351 crore to Rs 392 crore. The bank has 435 branches all over the country and all the branches of the bank have been covered under the Core Banking Solutions.

As per the plan, the bank expanded its branch network and established its new branches in Bangalore's Sadashivnagar, Yalahanka, Bommasandra, Belandoor, Doddaballapura, Hosakote, Mysore, Pune, Ujjain, Roorkela, Vasi, New Delhi, Kolkata and several centres in  North India.