Comments
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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.