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Karur Vysya Bank crosses Rs 90,000 crore in business

Covai Post Network


The aggregate business level of Karur Vysya Bank (KVB) crossed Rs 90,000 crore and stood at Rs 91,539 crore at the end of first six months of the 2016-17 financial year, up from Rs 84,234 crore a year ago.

While deposits were Rs 52,002 crore up from Rs 46.715 crore, the gross advances moved to Rs 39,537 crore from Rs 37,519 crore, according to the first half results, which were released today.

The net profit in the first six months was flat at Rs 272.66 crore, as against Rs 276.80 crore in the corresponding period of the previous fiscal, a decrease of 1.5 per cent. For the second quarter, the net profit was Rs 26.31 crore
vis-à-vis Rs142.22 crore in 2016, less by 11.19 per cent.

The Net Interest Margin (NIM) rose to 3.61 per cent from 3.39 oper cent in Quarter two of the financial year 2016.

Net Interest Income during Quarter two increased by 13.16 per cent from Rs 437.42 crore to Rs 494.97 crore and for the half year by 13.43 per cent from Rs 860.52 crore to Rs 976.09 crore.

The Capital to Risk Weighted Assets Ratio stood at 11.44 per cent as against the regulatory minimum of 9 per cent.

During this quarter, the performance of the bank was recognised with an award by Dun and Bradstreet as the Best Private Sector Bank for Priority Sector Lending.

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