Karur Vysya Bank reports 20.39% rise in Q3 net profit

Private sector Karur Vysya Bank has reported a 20.39% rise in its net profit for the October-December 2024 quarter to Rs.496 crore, the bank said on Tuesday. The Tamil Nadu bank had registered a net profit of Rs.412 crore during the corresponding quarter of last financial year.

For the nine month period ending December 31, 2024, the net profit surged by 24.28% at Rs.1,428 crore, as compared to a net profit of Rs.1,149 crore recorded during the corresponding period of last financial year.

"We have continued another strong quarter of performance, guided by our three key metrics: growth, profitability and asset quality. The bank's performance indicators align with our guidance, demonstrating consistent and inclusive growth," said The Karur Vysya Bank Managing Director and CEO Ramesh Babu B.

The total income during the nine month period ending December 31, 2024 stood at Rs.8,482.33 crore, from Rs.7,049.21 crore registered in the same period, a year ago. For the quarter under review the total income of the bank went up to Rs.2,953.44 crore from Rs.2,497.17 crore registered year ago.

Also Read - Quarterly Results of all banks for Q3FY25

Babu said, "We have maintained strong trajectory of growth in RAM (retail, agriculture and micro, small and medium enterprises) verticals, continuing the solid start we made at the beginning of the year. I am confident that the same will be maintained going forward."

The total business of the bank as on December 31, 2024 stood at Rs.1,81,993 crore, from Rs.1,58,357 crore registered in the same quarter of last financial year. "Our total business crossed Rs.1.81 lakh crore. The inclusive growth from all the business segments has supported for reaching net profit of Rs.1,428 crore for the nine month period", Babu added.

As on December 31, 2024 the bank's distribution network was at 866 branches and one digital banking unit and 2,197 ATM networks. About 55% of the branches are located in semi-urban and rural areas, he said.

The Gross Non-Performing Assets (GNPA) has improved by 75 basis points and stands at 0.83 per cent of gross advances as on December 31, 2024 (Rs.691 crore) vis-à-vis 1.58% as on December 31, 2023 at Rs.1,152 crore.

Net Non-Performing Assets is below 1% and stands at 0.20% of net advances as on December 31, 2024 (Rs.167 crore) as against 0.42% as on December 31, 2023 at Rs.305 crore, the bank said.

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Karur Vysya Bank Q4 net profit rises 23%

Private sector Karur Vysya Bank on Friday posted nearly 23 per cent rise in its net profit at Rs 104 crore in the last quarter of the fiscal ended March 2021, on account of good growth in retail loan portfolio as well as gold loan.Provisions for bad loans and contingencies too fell, which helped in profit numbers.

The bank had reported a net profit of Rs 84 crore during the same period of the preceding fiscal year FY20.

Total income during Q4 FY21, however, fell to Rs 1,565.78 crore from Rs 1,803.15 crore in the year-ago same quarter.For the entire fiscal year 2020-21, its net profit jumped by about 53 per cent to Rs 359 crore from Rs 235 crore in 2019-20, Karur Vysya Bank said in a regulatory filing.Full-year (2020-21) income was also down at Rs 6,527.07 crore, as against Rs 7,144.60 crore in FY20.

Bank''s total business grew by nearly 8 per cent to Rs 1.16 lakh crore as of March 31, 2021. The lender said credit growth during the year was higher at 8.87 per cent and gross advances reached Rs 52,820 crore.

"Credit growth resulted from improved offtake in retail and business segment as well as higher growth witnessed in the jewel loan portfolio, backed by digital processing and improved sourcing of loans through various channels," it said in a release.

Jewel loan portfolio grew by 39 per cent during the year and stands at Rs 12,852 crore at end of March 2021.On asset side, the bank registered decline in gross non-performing assets (NPAs) at 7.85 per cent of the gross loans by end of FY21 from 8.68 per cent by FY20. In value terms, the gross NPAs fell to Rs 4,143 crore from Rs 4,213 crore.

Net NPAs or bad loans improved to 3.41 per cent (Rs 1,719 crore) from 3.92 per cent (Rs 1,809 crore), backed by consistent follow-up and recovery measures, the bank said.Provisions for bad loans and contingencies for the reported quarter fell to 71.45 crore from Rs 429.27 crore parked aside for the year-ago period.

The board of directors of the bank has recommended dividend of Rs 0.50 per equity share for the financial year ended March 31, 2021, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the bank, it said.

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Karur Vysya Bank’s Q2 net profit dips by 25%

Karur Vysya Bank’s net profit dipped by 25% at Rs 63 crore in the July-September quarter, as against Rs 84 crore in the same period last year, due to higher provisioning for bad loans despite improvement seen in asset quality.

In September quarter, the bank increased provisioning for bad loans by 71% at Rs 365 crore as against Rs 231 crore in same quarter last year.

During the September quarter, gross non-performing assets (NPA) in absolute terms lowered to Rs 4,391 crore, compared to Rs 4,511 crore in the previous quarter. Gross NPAs as a percentage of total loans improved to 8.89% from 9.17% during the previous quarter while the net NPA ratio also decreased from 4.94% to 4.50% on quarterly basis.

In July-September, the lender’s operating profit went up 19% at Rs 431 crore as against Rs 361 crore in the previous year. A marginal increase is seen in the bank’s net interest income (NII) by Rs 17 crore compared to last quarter.

The bank’s net profit was dragged by provisioning gone up by 71% compared to last year.

Total advances grew by Rs 1,247 crore at Rs 49,388 crore in this September quarter, from Rs 48,141 crore reported last year. During the same period, total deposits increased by Rs 3,951 crore (7%) from Rs 58,262 crore to Rs 62,213 crore.

The private lender’s CASA deposits stood at Rs 18,522 crore with a share of 30%, the bank’s net interest margin (NIM) stood at 3.46%. Provision Coverage Ratio of the bank stood at 61.82%.

Total Capital Adequacy Ratio (CAR) as per Basel III guidelines stood at 15.99% on September 30, 2019, as against regulatory requirement of 10.9%.

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Karur Vysya Bank Q1 net profit up 59%

Reduced burden of bad loans provisioning helped Karur Vysya Bank (KVB) report a 59 per cent jump in net profit at Rs 73 crore in the first quarter ended June 30, 2019 against Rs 46 crore in the year ago period.

The private sector bank's provisioning towards bad loans was 22 per cent lower at Rs 330 crore in the reporting quarter against Rs 423 crore in the year ago period. Net interest income (interest income less interest expended) was almost unchanged at Rs 584 crore (Rs 583 crore in the year ag period). Other income was up 6 per cent at Rs 270 crore (Rs 255 crore).

Gross non-performing assets increased to 9.17 per cent of gross advances against 8.79 per cent in the preceding quarter. The Bank's provision coverage ratio improved to 59.05 per cent in the June 2019 quarter against 56.50 per cent in the year ago quarter.

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Karur Vysya Bank Q4 profit up 19%

Karur Vysya Bank on Wednesday reported a rise of 18.7% in March quarter net profit at ₹60.02 due to healthy income from retail banking even as bad loans spiked.

The bank clocked a profit of ₹50.56 crore during the corresponding January-March period of 2017-18, as per a regulatory filing.

Total income in the latest quarter rose to₹1,746.04 crore from ₹1,699.53 crore in the year-ago period. Income from retail banking was higher 4.6% to ₹967.23 crore.

For full 2018-19 financial year, the bank posted a decline of 39% in net profit at₹210.87 crore as against ₹345.67 crore in 2017-18, it said.

Income during the year increased to₹6,778.59 crore from ₹6,599.58 crore in 2017-18.

Bank's asset quality deteriorated during the year with gross non-performing assets (NPAs) hitting 8.79% of gross advances as on 31 March 2019, as against 6.56% by end-March 2018.

Net NPAs rose to 4.98% from 4.16%.

In absolute value, gross NPAs were ₹4,449.57 crore by end of 2018-19, compared to₹3,015.76 crore a year ago. Net NPAs amounted to ₹2,420.34 crore as against₹1,862.83 crore earlier.

Even though bad assets were on the rise, the provision for bad loans and contingencies for March 2019 quarter came down to ₹352.34 crore from ₹394.17 crore a year ago.

During March quarter 2019, the bank issued Basel III compliant tier II bonds to the tune of₹487 crore, it said.

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Karur Vysya Bank Q2 profit rises 11%

Karur vysya bank’s second quarter profit grew by 10.7 percent year-on-year to Rs 83.7 crore on lower provisions. However, lower other income and operating income limited profitability.

Net interest income for the quarter stood at Rs 579.1 crore, a growth of 4.3 percent compared to Rs 555 crore in same period last fiscal with slow loan growth of 7 percent YoY. Provisions and contingencies fell sharply at Rs 213.1 crore in quarter ended September 2018, against Rs 422.7 crore in previous quarter and Rs 321.4 crore in second quarter of last financial year.

On the asset quality front, gross non-performing assets (NPA) increased to 7.70 percent during the quarter against 7.44 percent in June quarter, but net NPA fell to 4.41 percent against 4.50 percent QoQ.

Other income or non-interest income declined 23.7 percent year-on-year to Rs 175.56 crore and operating profit was down 15.37 percent at Rs 361.4 crore in Q2FY19.

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Karur Vysya Bank(KVB) recruitment for various Executive & Officer posts 2018

Karur Vysya Bank ltd has published Advertisement for below mentioned Posts 2018. Other details like age limit, educational qualification, selection process, application fee and how to apply are given below.

Posts:

Executives

Officers

Educational Qualification: Please read Official Notification for Educational Qualification details.

Selection Process: Candidates will be selected based on an interview.

Important Dates:

Starting Date of Online Application: 25-08-2018

Last Date to Apply Online: 05-09-2018

How to Apply: Interested Candidates may Apply Online Through official Website.

Apply Online: Click Here

Advertisement:

Click on right corner of PDF to view large

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Karur Vysya Bank Recruitment for Managers Posts 2018

Karur Vysya Bank has published Advertisement for below mentioned Posts 2018. Other details like age limit, educational qualification, selection process, application fee and how to apply are given below.

Posts:

• General Manager
• Deputy General Manager
• Assistant General Manager
• Chief Manager
• Senior Manager
• Manager

Educational Qualification: Please read Official Notification for Educational Qualification details.

Selection Process: Candidates will be selected based on an interview.

How to Apply: Interested Candidates may Apply Online Through official Website.

Eligibility: Click Here

Instructions: Click Here

Apply Online: Click Here

Important Dates:

Last Date to Apply Online: 16-08-2018

For more details: Click Here

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Karur Vysya Bank Q1 profit falls 69%

Private sector lender Karur Vysya Bank's first quarter (April-June) net profit dropped sharply by 69 percent year-on-year, dented by higher provisions and weak asset quality.

Profit for the quarter stood at Rs 45.9 crore against Rs 148 crore in same period last fiscal.

Net interest income, thue difference between interest earned and interest expended, grew by 8.4 percent to Rs 583.6 crore compared to Rs 538.6 crore in corresponding period last year.

Profit missed analyst estimates of around Rs 85 crore while net interest income was in line.

On the asset quality front, gross non-performing assets (NPA) as a percentage of gross advances increased to 7.44 percent in June quarter from 6.56 percent in previous quarter. Net NPA were also higher at 4.50 percent against 4.16 percent sequentially.

Provisions for bad loans for the quarter stood at Rs 422.7 crore, which increased 7 percent compared to March quarter and 81 percent compared to June quarter 2017. Provision coverage ratio was unchanged at 56.50 percent quarter-on-quarter.

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Karur Vysya Bank Q4 result, profit tanks 77%

Private sector lender Karur Vysya Bank has reported a sharp 76.8 percent decline year-on-year in profit at Rs 50.6 crore for the quarter ended March 2018, dented by massive jump in bad loans provisions.

Profit the corresponding quarter of previous fiscal was at Rs 217.6 crore, the banks said in its filing.

Net interest income, the difference between interest earned and interest expended, grew by 10.8 percent to Rs 643 crore compared to year-ago period.

Provisions for bad loans shot up 81 percent year-on-year (up 21 percent sequentially) to Rs 394.2 crore in Q4FY18.

Asset quality weakened further as gross non-performing assets (NPA) for the quarter inched up to 6.56 percent against 5.94 percent in previous quarter. Net NPAs were also higher at 4.16 percent against 3.88 percent in December quarter.

Other income or non-interest income fell 10 percent year-on-year to Rs 208.65 crore and operating profit declined 5.4 percent to Rs 480 crore for March quarter.

Karur Vysya Bank said its gross NPA divergence for the financial year 2016-17 stood at Rs 651 crore and net NPA divergence at Rs 202 crore while the provision divergence for the same year was also at Rs 202 crore.

Net profit after adjusting provision divergence was at Rs 474 crore for FY17 against reported profit at Rs 606 crore.

FY17 gross NPA divergence of Rs 650.9 crore was 1.59 percent of the loan book.

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Karur Vysya Bank Q3 result, net profit drops 38%

Karur Vysya Bank’s net profit declined by over 38% to Rs71.49 crore for the quarter ending December due to a rise provisions for bad loans.

The private sector lender had registered a net profit of Rs115.76 crore in the corresponding October-December period of previous fiscal 2016-17.

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Karur Vysya Bank Q2 net profit falls 40%

Private sector Karur Vysya Bank today reported a 40% fall in net profit at Rs75.65 crore for the quarter ending September due to increased provisioning for rising bad loans.

The bank had registered a net profit of Rs126.31 crore in the similar July-September quarter of previous fiscal. Total income of the bank was at Rs1,632.50 crore in the July-September period of 2017-18, up from Rs1,610.77 crore in the same period of 2016-17, the bank said in a regulatory filing.

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Karur Vysya Bank Q1 profit growth to 1%

Private sector lender Karur Vysya Bank's profit growth limited to 1.1 percent in June quarter due to higher provisions, though there was sharp growth in other income and operating income.

Profit in Q1FY18 increased to Rs 148 crore from Rs 146.3 crore in year-ago quarter while net interest income jumped 11.9 percent to Rs 538.6 crore year-on-year.

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Karur Vysya Bank (KVB) Recruitment for Probationary Officers (Scale I) (PO) Posts 2017

Karur Vysya Bank (KVB) has published Advertisement for below mentioned Posts 2017. Other details like age limit, educational qualification, selection process, application fee and how to apply are given below.

Posts: Probationary Officers (Scale I)

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Karur Vysya Bank Q4 result, net profit up by 58% to Rs 217 cr

Karur Vysya Bank (KVB) net profit rose by 57.65 per cent during the fourth quarter FY17 to Rs 217.56 crore as against Rs 138 crore in the corresponding period in the year-ago period.

Bank's operating profits increased by 55.30 per cent to Rs 507.06 crore as as against Rs 326.51 crore in the same quarter in FY16.

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Top 10 Private Banks in India 2017

Banking corporations are considered as the most prominent institution if we talk about private sector firms. We have scrutinized Top 10 Private Banks In India 2017 for the customers who are looking for best private banks with high interest rate. Now your wait is over, check out below given amazing private banking corporations along with saving accounts and interest rate details. The Private Banks Have earned popularity amongst people and achieved a special niche in the world of banking. These banks are known for highly competitive outlook and technological superiority. Check Out private Banks in India from below This Page.

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Karur Vysya Bank Q3 result, Profit down 24% at Rs 115.76 cr

Private sector lender Karur Vysya Bank   today reported a 24.25 percent decline in net profit at Rs 115.76 crore for the third quarter ended December 31, 2016 on account of higher expenses. 

The bank had reported a net profit of Rs 152.83 crore in the same quarter of the previous fiscal. The bank's total income growth during October-December period of current financial year increased 3.67 percent to Rs 1,581.26 crore, from Rs 1,525.14 crore in the year-ago period. 

On the asset quality front, gross non-performing assets (NPAs) or bad loans stood at 2.66 percent of the total advances compared with 1.91 percent in the corresponding year-ago period while net NPAs were at 1.68 percent during the quarter as against 0.96 percent, in the comparable period a year ago. 

The bank's expenses went up by 9.15 percent to Rs 1,309.44 crore in the third quarter from Rs 1,199.57 crore in the corresponding period of the previous fiscal.

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Karur Vysya Bank Q2 result, Profit declines 11%

Karur Vysya Bank Limited (KVB) saw second quarter profit fall 11.2% to Rs 126.31 crore from last year as expenses at the private lender rose.

Despite the bank's total income increasing 2.6% to Rs 1,611 crore, expenses shot up by 6.3% to Rs 1,291.3 crore. Karur Vysya saw its bad loans increase for the second quarter, but set aside less money to cover its losses.

Gross non-performing assets (NPAs) as a percentage of advances rose to 2.29% from 1.79%; and the bank decreased its Q2 provision against loan losses 5.4% to Rs 119.2 crore from Rs 126 crore in the year-ago.

The bank's Basel II capital adequacy ratio (CAR) also reduced to 11.48% from 13.10% last year. Return on assets - which indicates a bank's profitability measured against its assets - fell to 0.86% from 1.03%.In its financial statement, Karur Vysya said it has made provisions for Rs 35.52 crore; which is 15% of the food credit availed by the state government of Punjab on March 31, 2016. During the half year, excess provision of Rs 9.43 crore was written back.

Securities amounting to Rs 106.76 crore were shifted to held for maturity (HTM) category from available for sale (AFS). And Rs 406.31 crore was shifted to AFS from HTM, resulting in a depreciation of Rs 0.93 crore.

The bank also sold bad loans to asset recovery companies of which Rs 126.38 crore was charged for this fiscal; amounting to Rs 63.19 crore for the current quarter. The balance carried over was Rs 311.45 crore, said the bank.

Karur Vysya also set aside Rs 41.83 crore to cover frauds this fiscal; amounting to Rs 15.55 crore for the current quarter).

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Karur Vysya Bank Q1 Result, Profit up 8% at Rs 146 cr

Private sector Karur Vysya Bank   today posted a 8.74 percent rise in net profit at Rs 146.35 crore for the quarter ended June 30, 2016. 

The Tamil Nadu-based bank's net profit had stood at Rs 134.58 crore during the corresponding quarter last fiscal, a bank statement said. 

The net profit for the financial year ending March 31, 2016 stood at Rs 567.63 crore. Total income for the April-June quarter went up to Rs 1,547.31 crore from Rs 1,518.50 crore registered in the year-ago period. 

For the financial year ending March 31, 2016, total income was at Rs 6,150.21 crore. As on June 30, 2016 Gross Non Performing Assets decreased to 1.79 per cent from 1.91 percent while Net NPA decreased to 0.79 per cent from 0.88 per cent. 

Net Interest Margin rose to 3.52 per cent for the April-June 30, 2016 quarter from 3.30 per cent registered during same period of previous year. 

The aggregate business level touched Rs 90,096 crore in the quarter ending June 30, 2016. Deposits recorded a 11.07 per cent growth to reach Rs 50,715 crore from Rs 45,659 crore registered during same period of previous year. 

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Karur Vysya Bank Q4 net profit at Rs 138 cr

Karur Vysya Bank net profit during the fourth quarter rose by 0.12 per cent to Rs 138 crore from Rs 137.84 crore. 

Net interest income increased by 18.94 per cent from Rs 397.38 crore to Rs 472.65 crore during the fourth quarter of FY16.

Gross NPA declined from 1.85 per cent to 1.30 per cent and net NPA declined from 0.78 per cent to 0.55 per cent during the current year.

The provision coverage ratio stood at 82.46 per cent.
Capital adequacy of the Bank as per Basel-III stood at 12.17 per cent against the regulatory minimum level of nine per cent. As per Basel-II, it is 12.26 per cent.

Total deposits grew by 12.06 per cent from Rs 44,690 crore as at March 31, 2015 to Rs 50,079 crore as at March 31, 2016. Gross advances grew by 7.59 per cent from Rs 36,691 crore to Rs 39,476 crore.

Total income of the bank stood at Rs 6,150.22 crore for the period ended March 31, 2016 as against Rs 5,976.71 crore during the previous year, clocking a growth of 2.90 per cent.

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