Vijaya Bank net profit rises by 5.53 per cent for Q2

State-owned Vijaya Bank today reported a 5.53 per cent raise in net profit to 143.75 crore during the second quarter of the current fiscal.
The city headquartered bank had posted a net profit of Rs 136.22 crore during the corresponding period last year.
It said total income of the bank grew 15.64 per cent and stood at Rs 3,253.75 crore in the period under review, compared to Rs 2,813.66 crore in the year-ago period.
Total business of the bank for the period ended September 30, 2014 registered a growth of 12.47 per cent and increased to 2,01,739 crore from 1,79,370 crore in the same period last year.

The deposits of the bank increased from 1,07,936 crore as on 30 September 2013 to Rs 1,23,199 crore, up by 14.14 per cent.
Its advances increased to Rs 78,540 crore in the Q2 of the current fiscal from Rs 71,434 crore in the same period last year, seeing an increase of 9.95 per cent.

"During the quarter fresh slippages were Rs 731 crore, it comprises Rs 300 crore coming from only two accounts which were earlier restructured; .... Other than that the slippages have been only Rs 431 crore," Vijaya Bank Chairman & Managing Director V Kannan told reporters here.

The bank made provisioning of Rs 151.72 crore during the quarter, up from Rs 131.69 crore in the year ago period.
The bank said its gross NPA ratio as on September 30, 2014, is 2.85 per cent, and the net NPA ratio stood at 1.88 per cent. The provision coverage ratio of the bank is at 63.10 per cent as on September 30.
Interest income on advances for the September quarter FY15 increased to Rs 2179.11 crore from Rs 1962.88 crore for the same period of last year, up by 11.02 per cent.
Total number of branches increased to 1534, and total number of ATMs to 1,554 as on September 30, 2014, the bank said. Its total staff strength at the end of second quarter stood at 13,556.