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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