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Karnataka Bank has set itself a gross NPA target of less than 2.5 percent and net NPA target of less than 1 percent for this financial year.
Jayarama Bhat, MD of Karnataka bank expects the FY14 net interest margin (NIM) to be around 3 percent on the back of its profit falling 19 percent.
The profit before tax gained 77 per cent y-o-y to Rs 117 crore. In an interview to CNBC-TV18, P Jayarama Bhat, MD of Karnataka Bank said that The gross NPA has gone up from Rs 729 crore to Rs 781 crore. However, two accounts are pending in CDR and if it is considered then the gross NPA level will come down.
P Jayarama Bhat, managing director and chief executive officer of Karnataka Bank says, he sees net interest margin (NIM) over 3% by March 2013.
Managing director of Karnataka Bank P Jayarama Bhat tells CNBC-TV18 that they aim to grow total advances by 22% year on year for FY12.
Speaking to CNBC-TV18, P Jayarama Bhat, managing director of Karnataka Bank, said that the bank expects credit growth of 25-30% and deposit growth of 20% in FY12. The bank has also increased its base rate to 10.25% with effect from today.