BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Centrum Broking Report
Karnataka Bank Ltd. Q2 FY21 results were overall positive.
Although loan growth was weaker, net interest margin was higher at 3.15% led by lower deposit cost and rising share of retail/mid-corporate leading to a better net interest income.
Stronger treasury gains offset lower fee income resulting in a pre-provision operating profit/profit after tax beat.
Slippages being negligible due to standstill and higher recoveries/write-offs led to a sequential reduction in gross non-performing asset/net non-performing asset.
Provisions were mainly due to NPA and Covid-19 related stood at Rs 979 million (as last quarter).
Moratorium reduced over June to September 2020 from 51.1% to 11.4% of loans mainly led by recoveries in September 2020.
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