The Hindu Business Line : Vijaya Bank posts 39% growth

Bangalore April 4 Vijaya Bank has reported total business of Rs 62,232 crore for FY07, a 39 per cent increase over FY06. Chairman and Managing Director Mr Prakash P. Mallya said the growth was well above the targeted Rs 55,000 crore for last financial year. Deposits showed 35 per cent growth and advances grew 46 per cent in FY07 over FY06, he said.

FY07 saw advances of Rs 24,852 crore and deposits of Rs 36,000 crore, he said. About 31 per cent of its deposits came from current and savings accounts during the period, he added.

In FY07, the bank made cash recoveries of Rs 288 crore, which is expected to contribute to its bottom line.

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Vijaya Bank posts 39% growth