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Coimbatore

KVB business goes up, net profit dips

Covai Post Network

COIMBATORE: Backed by a robust credit growth of 16.58 per cent, the total business of Karur Vysya Bank (KVB) has increased to Rs. 1,01,955 crore as on December 31, 2017, registering a year on year growth of 9.01 per cent from Rs. 93,525 crore during the corresponding period last year.

However, the net profit for the nine-month period, the results of which were announced, reported a dip to Rs. 295 crore, as against Rs. 388 crore during the period last year.

On Year on Year basis, total advances grew by Rs. 6,377 crore from Rs. 38,459 crore to Rs. 44,836 crore, while total deposits have increased from Rs. 55,066 crore to Rs. 57,119 crore, registering a growth of 3.73 per cent.

The net interest income improved to Rs. 562 crore from Rs. 518 crore in the corresponding quarter of the previous year, registering a growth of 8.5 per cent. while non-interest income for the quarter has increased by 32.35 per cent from Rs.170 crore to Rs. 225 crore.

Net interest income increased by Rs. 161 crore (10.78 per cent growth) from Rs. 1,494 crore to Rs. 1,655 crore in the nine months period, it said.

Other income increased by 25.64 per cent from Rs. 550 crore to Rs.691 crore.Gross NPA as on December 31 was Rs.2,663 crore (5.94 per cent) and Net NPA 3.88 per cent (Rs.1,699 crore).

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