The Karnataka Bank Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Other Retail-Retail banking: 44.5% • Corporate/Wholesale Banking: 33.6% • Treasury: 18.8%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Company has delivered good profit growth of 22.1% CAGR over last 5 years
- Comfortable capital adequacy - CAR of 20.1%
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 43.3% YoY, showing strong momentum
- Strong provisioning - provision coverage ratio of 84.7%
CONS
- A large part of profit comes from other income (84.6% of PBT)
- Operating margins have contracted to 22.1% from 30.6%
- Company has delivered a poor sales growth of 7.4% over past five years
- Growth is decelerating - 3Y profit CAGR (3.6%) trails the 5Y trend (22.1%)
- Though reporting repeated profits, the company pays out little dividend (14.4%)
- Expensive relative to growth - PEG of 2.4
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HDFCBANK | 687.25 | 13.41 | 1059339.46 | 2.26 | 203826.90 | 1092.64 | 905753.30 | 936.66 | 12.81 | 35.64 |
| ICICIBANK | 1390.10 | 17.79 | 997793.42 | 0.86 | 16209.74 | 12.62 | 52240.85 | 6.44 | 16.51 | 32.39 |
| KOTAKBANK | 414.40 | 20.31 | 412230.87 | 0.16 | 5487.06 | 23.89 | 18354.57 | 6.41 | 12.05 | 19.05 |
| AXISBANK | 1239.50 | 13.89 | 385909.17 | 0.08 | 7656.51 | 22.31 | 35541.96 | 9.87 | 11.04 | 63.88 |
| IDBI | 81.63 | 9.42 | 87771.86 | 0.00 | 2130.57 | 5.27 | 7549.28 | 7.44 | 14.76 | 76.80 |
| FEDERALBNK | 344.85 | 18.21 | 85260.58 | 0.35 | 1297.61 | 37.06 | 7861.58 | 9.94 | 10.98 | 66.11 |
| AUBANK | 1061.00 | 43.70 | 79680.01 | 0.09 | 795.95 | 37.03 | 5302.74 | 21.11 | 14.17 | 56.24 |
| INDUSINDBK | 1002.00 | 59.04 | 78069.88 | 0.15 | 1037.02 | 71.68 | 11309.94 | -7.78 | 4.97 | 55.07 |
| IDFCFIRSTB | 86.00 | 32.17 | 74146.70 | 0.29 | 11478.20 | 2431.19 | 110510.90 | 1046.12 | 5.42 | 38.45 |
| YESBANK | 22.43 | 18.65 | 70403.95 | 0.00 | 1071.81 | 32.53 | 8054.49 | 5.92 | 8.04 | 58.47 |
| RBLBANK | 416.80 | 71.90 | 64643.15 | 0.24 | 2342.30 | 993.41 | 38402.40 | 1015.97 | 6.49 | 40.95 |
| KTKBANK | 331.10 | 8.71 | 12524.16 | 1.51 | 419.12 | 43.29 | 2382.65 | 5.37 | 11.02 | 68.86 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,959 | 2,027 | 2,113 | 2,201 | 2,278 | 2,234 | 2,243 | 2,258 | 2,261 | 2,179 | 2,220 | 2,257 | 2,383 | |
| Interest Expended | 1,144 | 1,204 | 1,285 | 1,367 | 1,375 | 1,401 | 1,450 | 1,478 | 1,506 | 1,451 | 1,428 | 1,414 | 1,444 |
| Net Interest Income | 815 | 822 | 828 | 834 | 903 | 834 | 793 | 781 | 756 | 728 | 792 | 843 | 938 |
| 324 | 250 | 326 | 419 | 279 | 270 | 299 | 422 | 358 | 343 | 302 | 399 | 355 | |
| Total Income | 0 | 0 | 0 | 0 | 2,557 | 2,504 | 2,542 | 2,680 | 2,620 | 2,523 | 2,522 | 2,656 | 2,738 |
| Operating Expenses | 0 | 0 | 0 | 0 | 6,237 | 6,429 | 6,588 | 8,270 | 6,466 | 6,314 | 6,426 | 6,267 | 713 |
| Operating Profit | 0 | 0 | 0 | 0 | 5,587 | 4,606 | 4,330 | 3,753 | 4,674 | 4,401 | 4,518 | 6,151 | 581 |
| Provisions & Contingencies | 0 | 0 | 0 | 0 | 403 | 313 | 838 | 311 | 1,108 | 200 | 948 | 904 | 29 |
| Profit before Tax | 450 | 402 | 396 | 315 | 518 | 429 | 349 | 344 | 357 | 420 | 357 | 525 | 552 |
| Tax % | 17.55% | 17.90% | 16.34% | 12.92% | 22.76% | 21.66% | 18.81% | 26.62% | 17.97% | 24.01% | 18.53% | 22.20% | 24.05% |
| Net Profit | 0 | 0 | 0 | 0 | 400 | 336 | 284 | 253 | 292 | 319 | 291 | 408 | 419 |
| EPS | 12 | 11 | 10 | 8 | 11 | 9 | 8 | 7 | 8 | 8 | 8 | 11 | 1 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 8,299 | 9,014 | 8,918 | — | |
| Interest Expended | 4,444 | 4,049 | 3,731 | 4,035 | 5,000 | 5,703 | 5,799 | 5,738 |
| Net Interest Income | -4,444 | -4,049 | -3,731 | -4,035 | 3,299 | 3,310 | 3,119 | — |
| 1,262 | 1,404 | 954 | 993 | 1,319 | 1,270 | 1,403 | 1,400 | |
| Total Income | 0 | 0 | 0 | 0 | 9,617 | 10,283 | 10,321 | 10,439 |
| 0 | 0 | 0 | 0 | 2,454 | 2,752 | 2,547 | — | |
| Operating Profit | -4,444 | -4,049 | -3,731 | -4,035 | 2,164 | 1,828 | 1,974 | — |
| -5 | 6 | 928 | 768 | 600 | 186 | 316 | — | |
| Profit before Tax | 522 | 612 | 694 | 1,440 | 1,563 | 1,641 | 1,658 | 1,854 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 16.41% | 22.44% | 20.96% | 22.46% |
| Net Profit | 432 | 482 | 508 | 1,180 | 1,307 | 1,273 | 1,311 | 1,437 |
| EPS | 14 | 15 | 16 | 38 | 35 | 34 | 35 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 7%
- 3 Years:
- 7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 22%
- 3 Years:
- 4%
STOCK PRICE CAGR
- 10 Years:
- 11%
- 5 Years:
- 38%
- 3 Years:
- 11%
- 1 Year:
- 86%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 12%
- 3 Years:
- 12%
- Last Year:
- 11%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - |
| Equity Capital | 311 | 311 | 311 | 312 | 377 | 378 | 378 |
| 5,660 | 6,331 | 6,783 | 7,900 | 10,469 | 11,705 | 12,845 | |
| 71,785 | 75,654 | 80,387 | 87,368 | 97,988 | 1,04,806 | 1,08,777 | |
| 4,065 | 1,765 | 2,314 | 1,563 | 4,400 | 1,941 | 5,329 | |
| Other Liabilities & Provisions | 1,493 | 1,553 | 1,789 | 1,914 | 2,849 | 2,128 | 2,025 |
| Total Liabilities | 83,313 | 85,615 | 91,583 | 99,057 | 12 | 1,20,960 | 1,29,355 |
| ASSETS | - | - | - | - | - | - | - |
| 2,756 | 4,866 | 3,957 | 5,204 | 7,717 | 7,525 | 7,063 | |
| Balances with Banks & Money at Call | 163 | 449 | 480 | 955 | 337 | 459 | 672 |
| 17,545 | 21,635 | 22,040 | 23,325 | 24,300 | 24,535 | 26,737 | |
| 56,964 | 51,516 | 56,783 | 59,952 | 71,509 | 76,541 | 81,810 | |
| 826 | 838 | 805 | 846 | 915 | 976 | 1,052 | |
| 5,058 | 6,310 | 7,505 | 8,746 | 11,293 | 10,909 | 12,013 | |
| Total Assets | 83,313 | 85,615 | 91,583 | 99,057 | 12 | 1,20,960 | 1,29,355 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| -90 | 3,368 | -467 | 1,830 | 681 | -321 | 1,100 | |
| Cash from Investing | -56 | -87 | -56 | -88 | -369 | -161 | -88 |
| Cash from Financing | -545 | -885 | -355 | -19 | 1,582 | 412 | -1,260 |
| -690 | 2,396 | -879 | 1,723 | 1,894 | -70 | -248 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| PER SHARE | |||||||
| EPS (₹) | 13.89 | 15.52 | 16.33 | 37.77 | 34.64 | 33.68 | 34.66 |
| Book Value (₹) | 176.93 | 198.70 | 213.23 | 246.57 | 274.13 | 306.51 | 334.30 |
| Dividend per Share (₹) | 0.00 | 1.80 | 4.00 | 5.00 | 5.50 | 5.00 | 5.00 |
| PROFITABILITY | |||||||
| Net Interest Margin % | 0.00% | 0.00% | 0.00% | 3.56% | 3.18% | 3.04% | 2.68% |
| ROA % | 0.52% | 0.57% | 0.57% | 1.24% | 1.21% | 1.07% | 1.05% |
| ROE % | 7.85% | 8.26% | 7.93% | 16.46% | 14.48% | 11.61% | 10.82% |
| 0.00% | 0.00% | 0.00% | 47.16% | 53.15% | 60.10% | 56.33% | |
| ASSET QUALITY | |||||||
| Gross NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 3.08% | 2.78% |
| Net NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.31% | 0.98% |
| Provision Coverage % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 81.42% | 83.54% |
| Slippage Ratio % | — | — | — | — | — | — | — |
| BALANCE SHEET & LIQUIDITY | |||||||
| CASA % | 0.00% | 0.00% | 0.00% | 32.97% | 31.94% | 31.75% | 33.61% |
| Credit-Deposit Ratio % | 0.00% | 0.00% | 0.00% | 0.02% | 0.04% | 0.02% | 0.05% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
| GROWTH & VALUATION | |||||||
| Net Profit Growth % | 0.00% | 11.74% | 5.29% | 132.22% | 10.76% | -2.58% | 2.98% |
| Book Value Growth % | 0.00% | 0.00% | 0.00% | 15.64% | 11.18% | 11.81% | 9.07% |
| P/E (x) | 0.00x | 0.00x | 0.00x | 3.60x | 6.50x | 5.21x | 6.44x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.55x | 0.82x | 0.57x | 0.67x |
| 0.00% | 0.00% | 0.00% | 3.68% | 2.44% | 2.85% | 2.24% |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - The Karnataka Bank Limited has informed the Exchange about strikes/lockouts/disturbances
2026-09-08 - The Karnataka Bank Limited has informed the Exchange about allotment of equity shares pursuant to exercise of vested stock options under the Karnataka Bank Employees Stock Option Scheme, 2023
2026-09-03 - The Karnataka Bank Limited has informed the Exchange about change in Senior Management of the Bank
2026-09-03 - The Karnataka Bank Limited has informed the Exchange about Scheduling of meeting with Analysts / Institutional Investors
2026-09-03 - The Karnataka Bank Limited has informed the Exchange about Scheduling of meeting with Analysts / Institutional Investors
2026-09-01 - The Karnataka Bank Limited has informed the Exchange about Newspaper Advertisement in respect of 102nd Annual General Meeting of the Bank
2026-08-31 - The Karnataka Bank Limited has informed the Exchange about Disclosure in terms of Regulation 36 (1) (b) of the SEBI LODR Regulations, 2015
2026-08-31 - The Karnataka Bank Limited has informed the Exchange about Business Responsibility and Sustainability Report of the Bank for the FY 2025-26
2026-08-31 - The Karnataka Bank Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 22, 2026
News
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