Vijaya Bank Q1 net up 20.6% at Rs 98 cr

BS 200 SCORECARD

Vijaya Bank reported a 20.58 per cent growth in net profit at Rs 97.55 crore for the quarter ended June 2004. Total income edged up to Rs 610.5 crore, while total expenditure rose 1.6 per cent at Rs 393.24 crore.

The bank's return on assets stood at 1.60 per cent, while its capital adequacy ratio improved to 14.54 per cent (12.91 per cent). Net NPAs were at Rs 77.49 crore, representing 0.68 per cent of net advances.

During the period under review, total business grew 28.82 per cent to Rs 33,251 crore. Total deposits grew by 25.60 per cent to Rs 21,563 crore while gross advances rose 35.24 per cent to Rs 11,688 crore.

Priority sector credit constituted 44.57 per cent of net credit as against 41.87 per cent a year ago. A statement from the bank said the strategy was to focus on core and retail segments and shed the volatile bulk term deposits. As on June 2004, retail lending, at Rs 4,273 crore, constituted 36.55 per cent of gross credit.