Content creators mean business
Social media influencers are flipping the rules by first getting followers and then launching products and ...
K. Venkataraman Managing Director and Chief Executive Officer KVB - The Hindu
The private sector Karur Vysya Bank (KVB) has registered growth in deposits and advances in a difficult market environment during the second quarter of the current fiscal.
While its gross NPA ratio declined in Q2 of this year compared with the corresponding quarter last year, the net NPA edged up marginally.
According to K. Venkataraman, MD and CEO, the second quarter income during 2012-13 FY had gone up by 32.70 per cent to Rs 1,123.64 crore as against Rs 846.76 crore in the same period last year. The net profit also witnessed a sizable increase of 17.16 per cent year-on-year to Rs 132.75 crore (Rs 113.30 crore).
The bank witnessed significant growth in both deposit mobilisation and advances year-on-year in a tough environment. Deposits jumped by 23.32 per cent to Rs 33,444 crore, whereas total advances stood at Rs 25,677 crore, a year-on-year growth of 27.01 per cent. As on September 30, 2012, the total business of the bank was Rs 59,121 crore.
He said net interest income increased by 32.01 per cent year-on-year to Rs 285.77 crore (Rs 216.47 crore) due to the growth in lending as shown by an increase in average advances of 31.64 per cent. Other income too was up by 13.76 per cent in Q2 of this year — from Rs 74.71 crore in Q2 of last year to Rs 84.99 crore during the second quarter this year. However, the net interest margin was down slightly at 3.06 per cent from 3.07 per cent in the same quarter last year but had improved by 24 bps from the first quarter of FY 2013 (2.82 per cent).
Venkataraman said the gross NPA ratio declined to 1.26 per cent from 1.48 per cent and net NPA was at 0.32 per cent in the quarter ending September 30, 2012, as against 0.29 per cent during Q2 last year, with a Provision Coverage Ratio of 75.16 per cent.
The capital adequacy ratio of the bank was strong at 14 per cent (Basel II) that was far higher than the regulatory requirement of 9 per cent. As on date, the bank has 475 branches and 1,011 ATMs.
Social media influencers are flipping the rules by first getting followers and then launching products and ...
Paneer, once alien to the South, has found a lucrative market in Chennai
WPP agency Wunderman Thompson has launched its annual Future 100 report, lifting the lid on trends shaping the ...
Carriers claim that all measures — including pre-flight tests, cabin sanitisation and fresh air inflow — have ...
What filters should you apply when mining for under-the-radar small-cap stocks? Read on to find more
High valuation, intensely competitive landscape and small cap nature of the stock are key risks.
Amid choppiness, the benchmark indices slipped marginally; approach the week with caution
SBI Cards (₹1,032.7): Witnesses fresh breakoutBetween September and December last year, the stock of SBI Cards ...
A virus swept aside 2020 plans to mark the 250th year of the birth of Beethoven. We need the German composer’s ...
Former MLA and farmer leader VM Singh on the violence that followed the January 26 tractor rally, the impasse ...
A mysterious new exhibit has been the centre of attraction at the gallery of Modern Art. This art work has ...
Tara was a curious little girl who loved to ask questions.She lived with her parents and her grandmother — ...
Social media influencers are flipping the rules by first getting followers and then launching products and ...
WPP agency Wunderman Thompson has launched its annual Future 100 report, lifting the lid on trends shaping the ...
Paneer, once alien to the South, has found a lucrative market in Chennai
The Flipkart kids playing adults are back — this time to push the home grown e-commerce marketplace’s grocery ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor