KVB net profit jumps 28%

Karur Vysya Bank has reported a net profit of Rs 75.87 crore for the quarter ended December 2009, registering an increase of 28 per cent over the corresponding period previous year. The bank had reported a net profit of Rs 59.25 crore in the same period last year, Karur Vysya Bank said in a filing to the Bombay Stock Exchange.

For the nine-month period ended December 2009, the net profit of the bank stood at Rs 237.12 crore, an increase of 55.98 per cent. The bank reported a net profit of Rs 152.02 crore in the same period last year.

For the quarter ended December 2009, total income stood at Rs 516.93 crore compared to Rs 506.44 crore in the year-ago period. For the nine-month period ended December 2009, total income stood at Rs 1,496.39 crore against Rs 1,276.11 crore. Total deposits stood at Rs 17,891.66 crore as against Rs 13,733.08 crore in the same period of last year registering an increase of 30.28 per cent.

Total advances stood at Rs 12,641.26 crore registering a growth of 26.53 per cent over Rs 9,990.89 crore. The bank also said it was in the process of offering facility of real-time gross settlement transaction through net banking and also the introduction of application supported by blocked amount shortly.