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Friday, January 30, 2015

Higher treasury income boosts Vijaya Bank Q3 net

Revision of base rate and higher treasury income boosted Vijaya Bank’s profits to Rs.37.40 crore in the third quarter of the current fiscal against Rs.11.39 crore in the same period last year.

The bank’s total income increased 14.89 per cent to Rs.3,302.67 crore (Rs.2,874.60 crore). Kishore Kumar Sansi, Managing Director and CEO, told reporters that the bank’s treasury income touched Rs.158 crore (Rs.16 crore) and revision of base rate protected interest margins. The bank made Rs.328 crore provision for NPAs.

Gross NPA stood at Rs.2,311 crore (Rs.1,953 crore). The percentage of gross NPA ratio stood at 2.92 per cent compared with 2.67 last year. Net NPA was at Rs.1,476 crore (Rs.1,131 crore). The percentage of net NPA ratio stood at 1.89 per cent as against 66.08 per cent last year.

Net interest income increased 7.19 per cent to Rs.1,668.98 crore from Rs.1,557.04 crore and net interest margin (NIM) was at 1.88 per cent (1.90 per cent).

Total deposits of the bank grew 8.12 per cent to Rs.2,03,187 crore (Rs.187,935 crore). Gross advances increased 8.26 per cent to Rs.79,136 crore (Rs.73,100 crore).

Source : Thehindubusinessline


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