write by Gainn Fintech
Karnataka Bank and HDFC Life Insurance join hands to broaden financial product offerings.
Objective: Provide innovative, customer-centric financial solutions.
Karnataka Bank's stock saw a 1% gain on November 21, reaching ₹221.28 on the NSE.
ICICI Direct has a 'buy' rating with a target price of ₹285.
Srikrishnan H, MD & CEO of Karnataka Bank, expresses commitment to enhancing financial products.
Focus on leveraging digital tech for an improved customer experience.
Reported a 19.7% drop in net profit at ₹330.30 crore for the September quarter.
Net Interest Income (NII) increased by 2.4% to ₹822.4 crore for the quarter.
Q2FY24: Consolidated net profit grew by 15% to ₹378 crore.
Net premium income rose by 13% to ₹14,797 crore for Q2FY24.
Short-term: 7% rise in the past month, 17% return in six months, and 23% in a year.
Long-term: Remarkable 68% return over the last five years.
The partnership aims to offer a comprehensive suite of financial products and services.
Merging banking expertise with advanced life insurance solutions.
Future prospects for enhanced financial offerings through continued collaboration.
Potential for further growth and evolution in the financial landscape.