The Karnataka Bank Limited has informed the Exchange regarding a press release dated Jun 30, 2025, titled "Clarification with regard to misleading news about the Karnataka Bank circulating in some section of media".
KTKBANK · price
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Karnataka Bank has issued a clarification denying and condemning false news being spread by certain social media handles and a media outlet about the bank. The bank called the content completely malicious and intended to create confusion among customers. It reassured depositors that their money is safe and emphasized that the bank remains strong and resilient. Karnataka Bank highlighted its Capital Adequacy Ratio (CAR) of over 19.85% as proof of its sound financial position and strong risk management. The bank has initiated legal proceedings against the media outlet for publishing defamatory content without seeking the bank's side of the story, and urged the public to rely only on official bank communications.
Short-term negative sentiment is possible due to the rumor-driven attention, but the bank's strong CAR of 19.85% and its decisive legal and communication response should help contain reputational damage. Shareholders should monitor whether the rumor has any lasting effect on deposits or stock price, though fundamentals appear intact.