Vijaya Bank Q1 profit falls 43% on higher provisions, but asset quality improves

Public sector lender Vijaya Bank's June quarter profit declined 43 percent year-on-year to Rs 144.3 crore, dented by higher provisions.

Profit in corresponding period last fiscal was at Rs 254.7 crore.

Net interest income during the quarter grew by 27.9 percent to Rs 1,207 crore compared to Rs 944 crore in same period last year.

Asset quality was better in Q1FY19. Gross non-performing assets as a percentage of gross advances were lower at 6.19 percent against 6.34 percent in previous quarter and net NPAs also declined at 4.10 percent against 4.32 percent QoQ.

Provisions for bad loans for the quarter stood at Rs 659.4 crore, which increased 18.5 percent compared to March quarter and shot up 55.8 percent compared to same period last year.

In absolute terms, gross NPAs were up 0.7 percent sequentially at Rs 7,579 crore but net NPAs declined 2.3 percent to Rs 4,904 crore for the quarter ended June.

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Vijaya Bank Q4 result, profit up 1.6%

Vijaya Bank on Monday reported a rise of 1.6% in net profit at Rs207.31 crore for March quarter, 2017-18.

The public sector bank had registered a net profit of Rs203.99 crore in the January-March quarter of 2016-17.

Total income during the quarter grew to Rs3,728.22 crore as against Rs3,504.73 crore in the year- ago period, the bank said in a regulatory filing.

Provisioning for bad loans for the quarter was higher at Rs552.91 crore as against Rs344.56 crore in March quarter of 2016-17.

For entire 2017-18, the net profit of the lender however came down to Rs727.02 crore from Rs750.48 crore. Income during the year was slightly up at Rs14,190.45 crore from Rs14,030.72 crore in 2016-17.

Asset wise, bank’s gross non-performing assets (NPAs) reduced to 6.34% of the gross loans at the end of March 2018 from 6.59% as on March end-2017.

In value terms, gross NPAs stood at Rs7,526.09 crore by the end of 2017-18 as compared to Rs6,381.78 crore earlier.

Net NPAs were also trimmed to 4.32% of the net loans (Rs5,021.24 crore) from 4.36% (Rs4,118.16 crore). The provision coverage ratio as on 31 March, 2018 works out to 59.39% (previous year 58.15%), the bank said.

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Vijaya Bank Recruitment for Managers & Clerk Posts 2018

Vijaya 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:

• Manager – Chartered Accountant: 32 Posts
• Passed final examination for Chartered Accountants.
• Minimum 2 years of experience as a Chartered accountant is required. Preference will be given to candidates who are working as officer in a medium/large size Bank / Financial Institution with experience in jobs related to credit appraisals/financial analysis etc. Knowledge of credit risk management will be an added advantage.
• Manager – Law: 21 Posts
• BL (LLB) (Regular Full Time) from a Recognized University.
•  Minimum 5 years of experience out of which 3 years as practising Advocate in Civil Court/DRT dealing with Bank related cases.
• Manager – Security: 4 Posts
• Pass in any Degree from a recognized University.
• Candidates with 5 years of commissioned service in the Army/Navy/Airforce or a Police Officer not below the rank of Asst. Superintendent of Police/Dy Superintendent of Police with 5 years of service/officer of identical rank in Paramilitary forces with 5 years service.

Total No. of Posts: 57 Posts

Age Limit: 20 to 35 Years (45 Years for Manager - Security)

Application Fees:

Rs. 100/- for SC / ST / PWD

Rs. 600/- for Others including OBC

Selection Process: The mode of selection shall be Interview. However, the Bank may reserve the right to conduct Group Discussion/Written test before the interview in case a need is felt. The selection will be based on the performance of the shortlisted candidates in the GD/written test if any conducted and/or personal interview.

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

Advertisement: English | Hindi

Apply Online: Click Here

Important Dates:

• Starting Date of Online Applications: 12th April 2018
• Last Date of Online Applications: 27th April 2018
• Last date for receipt of print out of the Computer Generated On-Line Application: 4th May 2018
• Last date for Receipt of Print out of the Computer Generated On-Line Application (from Far Flung Areas): 11th May 2018

For Clerk Posts: Click Here

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Vijaya Bank said about exposure of Abhijeet Group loans

Vijaya Bank on Monday said it has an exposure of Rs189cr to three Abhijeet Group companies and another Rs719.2-mn to Abhijeet Projects Ltd, which is currently under investigation for a fraud. The statement was in response to a stock exchange query on a media report titled  “ED attaches Rs38.07cr against Abhijeet Group in bank fraud case”.

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Vijaya Bank Q3 result, net profit drops 65%

State-owned Vijaya Bank on Wednesday reported a 65.45% decline in net profit at Rs79.56 crore for the third quarter ended on 31 December 2017, due to rise in provisions. The bank had posted a net profit of Rs230.28 crore in the same quarter a year ago.

The bank’s total income also declined 7.09% to Rs3,450.81 crore in the quarter from Rs3,714.37 crore a year ago, Vijaya Bank said in a BSE filing.

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Vijaya Bank Q2 result, profit rises 20%

Vijaya Bank on Thursday reported 20% increase in net profit at Rs185.46 crore for the quarter ended 30 September, helped by lower expenses. The public sector bank had registered a net profit of Rs154.55 crore in the corresponding quarter of 2016-17 fiscal.

Total income fell marginally to Rs3,501.31 crore for the said quarter from Rs3,516.57 crore a year ago, the bank said in a regulatory filing.

Total expenditure went down 6.05% to Rs2,767.35 crore for the said quarter from Rs2,945.7 crore in the year- ago period.

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Vijaya Bank, Dena Bank eye merger

While there are talks of higher recapitalization for PSU banks, the government is also not dropping the ball on another important issue of consolidation in the banking space. Sources tell ET Now that two mid sized PSU banks are in initial exploratory talks for a possible merger. 

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Vijaya Bank Q1 net profit jumps over 57% to Rs 255 crore

Vijaya Bank today reported 57.5 per cent increase in net profit at Rs 254.69 crore for June quarter owing to healthy growth in retail income aided by a marginal fall in bad loan proportion. 

The public sector bank had registered a net profit of Rs 161.66 crore in the corresponding April-June quarter of 2016- 17 fiscal. Total income rose to Rs 3,510.11 crore for the said quarter from Rs 3,295.05 crore a year ago, the bank said in a regulatory filing. 

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Four banks make presentations to Finance Ministry on consolidation plans

Four state-run lenders — Syndicate Bank, Canara Bank, Vijaya Bank and Dena Bank— have made presentations to the finance ministry on their consolidation plans. Government think tank Niti Aayog has also been asked to offer its suggestions on the amalgamation of public sector banks. A senior government official confirmed both developments. 

The government wants fewer, stronger and bigger state-run banks. State Bank of India absorbed five of its associate lenders and the Bharatiya Mahila Bank in April, creating a larger bank that accounts for a quarter of all outstanding loans. 

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Vijaya Bank Q4 result, net profit doubles to Rs203.99 crore

Shares of Vijaya Bank gained as much as 10.18% to Rs97.40 per share, a seven-year high, as its net profit doubled for the fourth quarter on lower provision and higher other income.

The Vijaya Bank shares, however, pared early gains and closed 4.36% higher at Rs92.25.

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Government appoints heads of 7 PSU banks; MDs of PNB, BoI shifted

In a major restructuring in the PSU banking space, the government today appointed heads of various public sector banks besides carrying out rejigs at PNB and Bank of India. PNB Managing Director Usha Ananthasubramanian has been shifted to relatively small Kolkata-based Allahabad Bank while head of Bank of India (BoI) Melwyn Rego will move to Syndicate Bank with immediate effect, according to an official statement.

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Govt ask 10 public sector bank to cut staff benefits

The government has asked 10 public sector banks (PSB) to curtail employee benefits, including industry-standard pay hikes, if these want to receive any capital.The Centre wants these banks to sign a memorandum of understanding (MoU) with the employees’ unions to get a commitment on this. If the unions agree, benefits such as leave travel concessions and perks could go for a few years till the banks returned to health.

All three Kolkata-based banks — United Bank of India, UCO Bank and Allahabad Bank — have got this diktat. The letter has also gone to Indian Overseas Bank, Vijaya Bank, Bank of India, Central Bank of India, Andhra Bank, Bank of Maharashtra and Dena Bank, sources said.

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Vijaya Bank Q3 result, Profit rises fourfold to Rs230 crore

Vijaya Bank has locked in upper circuit of 20% at Rs 64, also its 52-week high on the BSE, after reported an over four-fold jump in net profit at Rs 230 crore for the quarter ended December 2016 (Q3FY17), due to higher other income. The state-owned bank had profit of Rs 53 crore in the same quarter year ago.

Net interest income (interest earned minus interest expended) increased by 22.7% at Rs 906 crore during quarter under review against Rs 738 crore in the corresponding quarter of previous fiscal. Other income jumped nearly three-fold to Rs 577 crore from Rs 209 crore over the previous year.

The bank’s assets quality improved on sequential basis with gross non-performing assets (NPAs) stood at 6.98% of gross advances, as on December 31, 2016 compared with 7.07% in the September 2016 quarter. The net NPAs stood at 4.74% against 5.10% in the preceding quarter.

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Vijaya Bank Q2 result, Profit jumps 34% at Rs154.55 crore

State-owned Vijaya Bank reported 34.1$ increase in net profit to Rs154.55 crore in the second quarter of the current fiscal despite higher provisioning for bad loans.

The bank’s net profit in the July-September quarter of 2015-16 was Rs115.29 crore. Its total income rose to Rs3,516.57 crore during the second quarter of 2016-17 as against Rs3,202.89 crore from the same period a year ago, Vijaya Bank said in a regulatory filing.

Provisions for bad loans and contingencies were increased by the bank to Rs389.82 crore for the quarter under review, 42.5% higher than Rs273.47 crore in the same period a year ago.

Asset quality of the bank slipped as gross non-performing assets (NPAs) or the bad loans rose to 7.07% of the gross advances as of September 2016, as against 3.98% a year earlier. Likewise, net NPAs too increased to 5.10% of the net advances, from 2.84%. 

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Vijaya Bank Q1 result, Profit rises 13.37%

Public sector Vijaya Bank on Friday reported a 13.37% increase in net profit to Rs.161.66 crore for the first quarter ended 30 June on account of improved net interest margins. 

The city-headquartered bank had reported a net profit of Rs.142.59 crore in the corresponding period last year.

Total income rose marginally to Rs.3,295.05 crore during the first quarter, as against Rs.3,289.05 crore in the year-ago period.

Commenting on the performance, the bank’s MD and CEO Kishore Sansi said, “In spite of all the challenges that the banking industry is passing through, we are very happy to announce that there is a steady growth not only in the business, but also in terms of all fundamental parameters both in the net interest margin as also in the net interest income.”

“The reason for increased net profit is the net interest margins have increased, there is more reliance on retail, we have shed our bulk deposits, we have increased our fee based income, we have increased our CD ratio—so all these factors put together have resulted in the increase in the operating profit also,” Sansi told reporters.

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Vijaya Bank Q4 Net Profit Falls 26% To Rs 71 Crore

State-owned Vijaya Bank on Thursday reported a 26 per cent decline in net profit to Rs 71.31 crore for the March quarter.

The bank had a net profit of Rs 96.80 crore in the January-March quarter of 2014-15 fiscal, Vijaya Bank said in a BSE filing.

Total income of the bank declined to Rs 3,228.48 crore in the January-March quarter of the 2015-16 fiscal as against Rs 3,408.12 crore in the year-ago period.

For entire 2015-16 fiscal, the bank's net profit slipped to Rs 381.80 crore compared with Rs 439.41 crore in the previous fiscal.

The total income also declined to Rs 12,957.44 crore during the fiscal from Rs 13,152.49 crore in 2014-l5.

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Vijaya Bank Q3 Net Profit Rises 41% to Rs 53 Crore

State-owned Vijaya Bank on Friday reported 40.6 per cent increase in net profit to Rs 52.61 crore for the third quarter ended December 31. 

The bank had posted a net profit of Rs 37.40 crore in the October-December quarter of the 2014-15 fiscal. 

However, the bank's total income declined marginally to Rs 3,237.02 crore in the quarter under review from Rs 3,302.67 crore in the same period a year ago, Vijaya Bank said in a regulatory filing.

The bank's gross non-performing assets (NPAs) rose to 4.32 per cent as against 2.92 per cent in the same quarter of the previous fiscal. 

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