Financial Daily from THE HINDU group of publications
Tuesday, Oct 26, 2004
Financial Daily from THE HINDU group of publications Tuesday, Oct 26, 2004 |
||
|
|
||
|
Corporate Results
-
Public Sector Banks Money & Banking - Financial Performance Vijaya Bank Q2 net declines 26 per cent Our Bureau
Bangalore , Oct. 25 VIJAYA Bank, reported second quarter profits of Rs 71.43 crore, lower by 25.5 per cent against Rs 95.89 crore in the corresponding period of July-September 2003. Total income during the quarter was Rs 592.83 crore down from Rs 631.67 crore in the corresponding previous period. The drop in income from investments and higher provisions for the reduced investments have resulted in the lower numbers, the bank said in a press release. Vijaya Bank's interest earned during the quarter rose to Rs 509.35 crore from Rs 472.15 crore in the corresponding previous period. Income from investments fell to Rs 213.69 crore, (Rs 227.91 crore). Other income fell to Rs 83.48 crore, (Rs159.52 crore). The bank increased its provisions and contingencies to Rs 144.86 crore, up from Rs 9,043 crore last fiscal. The bank has reported an improved capital adequacy ratio of 13.4 per cent (12.96 per cent). Net NPAs fell by 44.5 per cent from Rs 138.35 crore in Q2 03-04 to Rs 76.68 crore during the current fiscal. The bank has reported a lower cost of deposits from 6.26 per cent to 4.23 per cent while cost of funds has also come down from 5.58 per cent to 4.23 per cent.
More Stories on : Public Sector Banks | Financial Performance
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|