BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Axis Securities Report
Karnataka Bank Ltd. reported an improved set of numbers in Q4 FY22 with net interest income growing 43%/5.4% YoY/QoQ to Rs 656 crore.
The bank’s net interest margin improved by 84 basis points/7 bps YoY/QoQ to 3.25%. Non-interest income growth was robust sequentially at 30.8%, though it was down 31.2% YoY.
Operating expenses remained elevated at 533 crore, up 18.9%/15.2% YoY/QoQ, largely due to higher employee costs. This led to muted pre-provision operating profit growth which declined 0.9% YoY and was up 6.7% QoQ to Rs 380 crore.
Supported by lower provisioning, YoY earnings growth was robust at 315.7. However, on a QoQ basis, earnings were down 11.1% led by a higher one-time tax expense of Rs 85 crore as Karnataka Bank migrated to the new tax regime.
Loan growth improved slightly at Rs 56,783 crore (up 10.2% YoY and 2.3% QoQ).
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR