Shares of Karnataka Bank slipped over 4% in the opening trade on Monday and hit a low of Rs 128 against its previous close of Rs 136. The bank released its business update for Q4 of FY23 and surprisingly its loan book shrinked QoQ. Karnataka Bank reported a 8.71% rise to Rs 28,807.04 in its CASA for the quarter ended March 31, 2023. The bank’s aggregate deposits rose 8.69 percent while the gross advances increased 6.16%.
Deposits of the bank stood at Rs 87,362 crore, up 8.7% on a YoY basis and 3.3% on a QoQ basis. On the other hand, the lender’s advances stood at Rs 61,326 crore, higher by 6.2% YoY and down 3.7% QoQ.
