Vijaya Bank has clocked 57.54 per cent higher profit at ₹254.69 crore for the first quarter (Q1) of the financial year 2017-18, compared with ₹161.66 crore in the same period last year. Total income was 6.52 per cent higher at ₹3,510.11 crore, compared with ₹3,295.05 crore recorded in the same quarter last year. EPS stood at ₹2.55 (₹1.62).

Commenting on the bank’s performance, Kishore Sansi, MD & CEO, said: “Profits are higher due to 20.59 per cent growth in net interest income (NII) and a whopping 114.49 per cent jump in other income. We also performed well in the retail banking category. The bank continued to excel in the area of retail credit evidenced by a substantial overall retail credit growth of 22.80 per cent and a 26.41 per cent growth in housing loan portfolio.”

Gross NPA stood at ₹6,812.21 crore (against last year’s ₹6,589.23 crore), while net NPA was at ₹4,784.26 crore (₹4,792.55 crore).

Net interest income (NII) increased 20.60 per cent to ₹943.80 crore. Net interest margin (NIM) was at 2.92 per cent compared to 2.54 per cent in the corresponding quarter of the previous year. Total provisions and contingencies of the bank stood at ₹498 crore (₹297 crore). The bank’s RoA improved to 0.62 per cent from last year’s 0.45 per cent.

Deposits-advances Low-cost current account, savings account (CASA) deposits increased to ₹36,318 crore, up 29.82 per cent from last year’s ₹27,975 crore.

CASA as percentage of total deposits was 27.52 per cent (21.92 per cent). The bank’s total business reached ₹2,25,318 crore. Deposits stood at ₹131,963 crore, and advances ₹93,355 crore.

Related Topics
comment COMMENT NOW