|
Karur Vysya Bank Limited has announced the financial results for the nine months ended 31st December 2009 following the approval of the Board of Directors in their meeting held at Karur on 29.01.2010.
The net profit for the nine months ended 31st December 2009 rose to Rs.237.12 crore, crossing its March’09 profit figure of Rs.235.84 crore, from Rs.152.02 crore a year ago, registering a growth of 55.98%. Total income went up to Rs.1496.39 crore from Rs.1276.11 crore, posting a rise of 17.26%. Net Interest income has grown by 28.90% from Rs.310.88 crore to Rs.400.72 crore. Net Interest Margin (NIM) stood at 3.17%.
Net NPA as a percentage of Net advances stood at 0.19% as against 0.47% a year ago.
The total business of the Bank has crossed Rs.30500 crore mark as on 31st December 2009 and stood at Rs. 30532.92 crore, registering 28% growth on Y-o-Y basis. The total deposits of the bank stood at Rs.17891.66 crore as against Rs.13733.08 crore, a year ago recording a growth of 30.28%. The total advances of the Bank stood at Rs.12641.26 crore, registering a growth of 26.53% over Rs.9990.89 crore a year ago.
The capital adequacy ratio of the bank is comfortable at 15.66% (Basel II). Return on Assets of the Bank stood at 1.72%.
The Q3 net profit of the Bank rose to Rs.75.87 crore from Rs.59.25 crore posting a rise of 28.05%. Total income went up from Rs.506.40 crore to Rs.516.87 crore. Net Interest Income grew by 29.32% to Rs.151.17 crore from Rs.116.90 crore. Net Interest Margin for Q3 stood at 3.38%.
In its untiring effort to offer techsavy facilities to its customers, the Bank is in the process of offering facility of RTGS transaction through Net banking and introduction of Application Supported by Blocked Amount (ASBA) shortly.
|
