Money & Banking

Karur Vysya Bank net profit up 45 per cent in Q1

Our Bureau Coimbatore | Updated on July 30, 2020 Published on July 30, 2020

Karur Vysya Bank’s net profit at the end of the first quarter of the current fiscal rose 45.2 per cent to ₹106 crore, compared to ₹73 crore during the corresponding quarter of the previous year.

The operating profit was up 6.5 per cent at ₹474 crore (₹445 crore) and net interest income at ₹562 crore. Non-interest income for the quarter jumped 17.4 per cent to ₹317 crore (₹270 crore) and CASA by 344 basis points to 33.16 per cent.

Net NPA dropped to 3.44 per cent (4.94 per cent) – from ₹2,322 crore at the end of June 2019 – to ₹1,585 crore at the close of the first quarter of the current fiscal.

Provision coverage ratio stood at 72.7 per cent. The total business of the bank at the end of the first quarter stood at ₹1,08,682 crore, with gross advances at ₹48,617 crore and total deposits at ₹60,065 crore

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Published on July 30, 2020
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