2017-10-17 :Karnataka Bank Q2 profit decreases by 24.5%
Net profits of Karnataka bank declined 24.58 per cent to Rs. 93.38 crore in the second quarter of 2017-18 while it was Rs. 123.82 crore in the previous fiscal. The Chief Executive Officer cites the frontloading of future risks of the bank as a reason for the fall in net profit.
2017-09-06 :Karnataka Bank introduces varying interest rates for Savings Bank Account
As a part of its asset liability management, Karnataka Bank has introduced four interest variants on the balances maintained in savings bank account by its customers. For balance above Rs. 1 crore, the interest rate is revised to 5 per cent from the existing 4 per cent while whereas for balance between Rs. 50 lakh to Rs. 1 crore, the applicable interest rate is 4 per cent per annum respectively. Similarly, for balance in the range of more than Rs. 1 lakh to Rs. 50 lakh the interest rate is reduced to 3.5 per cent from the existing 4 per cent.
2017-09-06 :Karnataka Bank launches new product Met Loan and Life Suraksha
Private sector lender, Karnataka Bank has announced the launch of a new product, Met Loan and Life Suraksha” (MLLS) for its bank customers. The product will work as a single premium plan covering the loan liability of a customer. Meanwhile, the bank has also introduced KBL MLLS app which is specially designed for the banks employees to instantly calculate the insurance cover and premium based on loan liability of their borrowers. Meanwhile, the bank also plans to boost its loan against property (LAP) segment.
2017-08-18 :Karnataka Bank ventures into social media
Karnataka Bank has ventured into social media by opening its official pages in social networking sites including Facebook, Twitter, Instagram and YouTube. The official social handle of the bank is @karnatakabank for Twitter and Facebook, and @officialkarnatakabank for Instagram.
2017-08-03 :Karnataka Bank introduces varying interest rates for SB accounts
As a part of its asset liability management, Karnataka Bank has introduced four interest variants on the balances maintained in savings bank account by its customers. For daily balances of above Rs. 1 crore, the rate is revised to 5 per cent from existing 4 per cent while for daily balances from Rs. 50 lakh to Rs. 1 crore, the applicable interest rate is 4 per cent. Similarly, for daily balances in the range of more than Rs. 1 lakh to Rs. 50 lakh the interest rate is reduced to 3.5 per cent from the existing 4 per cent.
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