Karur Vysya Bank Q3 profit up 34% to Rs 153 cr

Net interest income up 14.6%, Gross NPAs down from 1.96% to 1.91%

Karur Vysya Bank reported 34.20 per cent growth in net profit for the third quarter ended December 31, 2015 at Rs 152.83 crore as compared to Rs 113.88 crore, a year ago.

The net interest income for the third quarter increased by 14.61 per cent to Rs 448.20 crore from Rs 391.07 crore.

Other income for the third quarter increased by 17.43 per cent from Rs 147.14 crore to Rs 172.78 crore. Operating Profit for the third quarter increased by 23.94 per cent from Rs.262.69 crore to Rs 325.57 crore.

Net interest margin improved from 3.08 per cent to 3.47 per cent as compared to corresponding quarter last year.

Gross NPA decreased from 1.96 per cent to 1.91 per cent as compared to quarter ended September 2015.Net NPA ratio remains unchanged at the same level of 0.96 per cent as compared to the quarter ended September 2015.

The Bank has maintained Provision Coverage Ratio at 75.20 per cent.

The capital adequacy ratio of the Bank stood at 12.90 per cent (Basel III) which is well above the regulatory requirement of nine per cent. As per Basel II, CRAR works out to 13.30 per cent.

Ends