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09 Aug 2020, Edition - 1853, Sunday

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Coimbatore

45.2 per cent increase in first quarter of this fiscal

Covai Post Network

Coimbatore : The net profit of the private Karur Vysya Bank for the first quarter of this financial year increased by 45.2 per cent to
Rs.106 crore, from Rs.73 crore during the corresponding period last year.

Operating profit for the quarter increased by 6.5 per cent to Rs.474 crore compared to Rs. 445 crore for the previous year

While the net interest income for the quarter stood at Rs. 562 crore, the net interest margin at 3.36 per cent, according to the first quarter results of the bank ending June 30.

Non-interest income for the quarter has increased by 17.4 per cent from Rs.270 crore to Rs. 317 crore, where as Basel III CRAR (Capital to Risky Asset Ratio) stands at 18.14 per cent with CET1 (Common Equity Tier) of 16.13 per cent.

The total business as on 30th June stood at Rs. 1,08,682 crore comprising gross advances at Rs. 48,617 crore and total deposits of Rs. 60,065 crore Current Account Savings Account (CASA) share improved by 344 bps to 33.16 per cent; CASA deposits of Rs.19,913 crore up by Rs. 1,573 crore from Rs.18,340 crore a year ago, the Bank President and COO, J Natarajan in a release said Thursday.

While net NPA improved by 150 bps and dropped to 3.44 as on June 30, from 4.94 per cent a year ago, in absolute terms, it reduced by Rs.737 crore to Rs.1,585 crore from Rs. 2,322 crore as on June 2019.

Gross NPA reduced by Rs.455 crore (83 bps) to 8.34 per cent (Rs. 4,056 crore as compared to Rs. 4,511 crore a year ago, he said.

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