Aiming for sub-2% net NPA by March: Karnataka Bank

It was a mixed second quarter performance from Karnataka Bank as net interest margins came in at a 10 quarter high but loan growth was down 27 percent year-on-year because of the decline in corporate loans.

The bank is trying to change its loan book mix by focusing more on retail and mid corporate customers.

Mahabaleshwara MS, MD & CEO of the bank told CNBC-TV18 that he expected the restructured portion of the loan book to be at 1 percent by end of December. The bank is aiming for less than 2 percent NPA in the loan book by the end of March 31, 2021.