Karnataka Bank has decided to seek shareholders approval for augmenting capital through Qualified Institutional Placement (QIP) not exceeding Rs 500 crore. The board of directors at their meeting held on May 22, 2015 has approved for the same.
The bank has posted a rise of 65.52% in its net profit at Rs 134.42 crore for the quarter ended March 31, 2015 as compared to Rs 81.21 crore for the same quarter in the previous year. Total income of the bank has increased by 11.55% at Rs 1308.04 crore for quarter under review as compared to Rs 1172.58 crore for the quarter ended March 31, 2014.
