Money & Banking

KVB profits up 49%

Our Bureau Chennai | Updated on November 12, 2017 Published on January 30, 2011




Karur Vysya Bank reported a 49 per cent increase in its third quarter net profit at Rs 113.22 crore against Rs 75.87 crore during the same period of the previous fiscal. Net interest income grew by 39.36 per cent. Interest income increased by 27.54 per cent to Rs 575.49 crore from Rs 451.22 crore.

The bank's net interest margin (NIM) for Q3 rose 27 bps to 3.66 per cent. Deposits grew 24 per cent to Rs 22,263 crore while advances grew 31 per cent to Rs 16,514 crore. The bank's capital adequacy ratio was at 12.13 per cent.

A rights issue currently being processed will further augment its networth by Rs 457 crore.

Net NPAs were at 0.19 per cent while provision coverage ratio was at 87 per cent compared with the regulatory requirement of 70 per cent.

Published on January 30, 2011
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