Vijaya Bank's FY09 net likely to remain flat

Vijaya Bank’s net profit for the financial year 2008-09 is likely to remain flat or may even be lower, on year, due to the muted performance in the first two quarters, a senior official of the bank said. For 2007-08, the net profit of the bank was Rs 361 crore.

In April, the then Chairman and Managing Director, Prakash P Mallya, had said the bank estimated a net profit of Rs 500 crore for the current financial year.