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.

Read More

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.

Read More

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.

Read More

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.

Read More

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)

Read More

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.

Read More

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.

Read More

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.

Read More