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Coimbatore
KVB profit dips by 9.59%
January 25, 2017
The net profit of Karur Vysya Bank for the nine month period ending December 2016, decreased by 9.59 per cent to Rs. 388.42 crore, compared to Rs. 429.63 crore the corresponding period last year.
For third quarter of 2016-17 financial year (FY) the net profit decreased by 24.26 per cent to Rs.115.76 crore down from Rs.152.83 crore a year ago.
In its third quarter results announced today, the aggregate business stood at Rs.93,525 crore up from Rs. 85,208 crore a year ago, while deposits were at Rs. 55,066 crore up from Rs. 47,336 crore, while gross advances moved to Rs.38,459 crore from Rs. 37,872 crore.
The decrease in operating profit for the nine month period was by 10.47 per cent from Rs. 976.54 crore to Rs. 874.34 crore, while third quarter, it decreased by 16.51 per cent from Rs.325.57 crore to Rs. 271.82 crore.
During the third quarter of this fiscal, Ratio of Gross NPA to Gross Advances increased to 2.66 per cent from 1.91 per cent, while the ratio of Net NPA to net advances increased to 1.68 per cent from 0.96 per cent.
Net Interest Income moved up by 15.49 per cent from Rs. 448.20 crore to Rs. 517.63 crore during the third quarter and by 14.14 per cent from Rs. 1,308.72 crore to Rs. 1,493.71 crore during the nine month period.
Net Interest Margin rose to 3.68 per cent from 3.47 per cent in Q 3 of FY 2017, the results said.
