Vijaya Bank’s Q2 net profit up 20 pc at Rs 185.46 crore

Source: The Hitavada      Date: 28 Oct 2017 09:40:13

 


 

Business Bureau,

VIJAYA Bank registered a strong performance with operating profit rising by 28.57 per cent to Rs 733.96 crore and net profit up 20 per cent at Rs 185.46 crore in the second quarter of the current fiscal. This was revealed by K C Kotaiah, Deputy General Manager of Vijaya Bank at a press conference on Friday. Viplava Kumar Addanki and Arvind Guntewar, both chief managers were also present.


Vijaya Bank’s net interest income was up 21.81 per cent at Rs 1,008.41 crore. The net interest margin (NIM) improved by 43 bps to 3.04 per cent and retail credit was up by 20.32 per cent in Q2 FY 2017-18, he noted.


Furthermore, its retail credit increased by 20.32 per cent and housing loan portfolio rose by 26.29 per cent. CASA also augmented from 22.65 per cent to 27.03 per cent. Gross non-performing asset (NPA) was marginally down from 7.07 per cent to 7.06 per cent. Net NPA declined from 5.10 per cent to 4.86 per cent y-o-y. While the provision coverage ratio was at 59.29 per cent and return on asset (ROA) at 0.46 per cent. The bank’s capital to risk assets ratio (CRAR) Basel III was at 13.31 per cent.


The Nagpur regional office consists of 66 branches and 67 ATMs spread over Vidarbha, Marathwada and Chhattisgarh. Nagpur region’s total business turnover stood at Rs 2,800 crore, deposits at Rs 1,550 crore and advances at Rs 1,250 crore for Q2 FY 2017-18. Out of the total advances, retail advances were up 49 per cent and net NPA stood at 2 per cent, Kotaiah said.
It is celebrating its 87th Foundation Day by organising various activities, he added.