#VijayaBank net down due to mark-to-market (MTM) losses of Rs.71 crore in Q4

 Highlights of Vijaya Bank Results:-
 
Total business reached an all time high level of Rs.206721 crore up by 23%
Deposits up by 28%
Advances up by 17%
Total income up by 13% 
Gross NPA at 2.41%
Net NPA at 1.55%
Provision coverage ratio at 64.05% 

Bangalore-based PSU bank Vijaya Bank's Net profit  for the fourth quarter ended March 31, 2014 declined by 39% to Rs 136 crore compared to Rs 224 crore in the corresponding quarter last fiscal mainly due to mark-to-market (MTM) losses of Rs.71 crore in this quarter.
 Total income of the bank increased to Rs 3,029.34 crore in the January-March quarter, as against Rs 2,680.20 crore in the year-ago period.
For the entire 2013-14, the bank's net profit slipped by 28.8 percent to Rs 416.91 crore, compared to Rs 585.61 crore in the previous fiscal.Total income of the bank in the last fiscal jumped to Rs 11,416.42 crore from Rs 9,658.88 crore in 2012-l3.The total business of the bank for the fiscal ended March 2014 grew 23.39% to Rs 2,06,721 crore against Rs 1,67,531 crore in March 2013. The advances increased by 16.89% to Rs 82,425 crore as against Rs 70,514 crore in the previous year.
Deposits registered a growth of 28.12% and increased from Rs.97017cr as on March 31st 2013 to Rs.124296 cr as on March 31, 2014.
Advances increased from Rs.70514 cr as on March 31st 2013 to Rs.82425 cr as on March 31st, 2014, up by 16.89%.
Asset Quality
 Bank’s Gross NPA ratio as on March 31, 2014 is 2.41%.
 Net NPA ratio of the Bank as on March 31, 2014 is 1.55%.
 Provision coverage ratio of the Bank is at 64.05% as on 31.03.2014.
Capital Adequacy
 During March’14 quarter, the Bank converted the Perpetual Non-Cumulative Preference Share capital aggregating to Rs.1200 cr held by Govt of India into equity capital at a premium of Rs.29.39 per share with face value of Rs.10/- each to improve the Common Equity Tier I capital.
 Capital to risk weighted assets ratio is at 10.56 %( Basel III) with Tier I ratio at 8.13% and Tier II ratio at 2.43%.
 CRAR of the bank is above the minimum stipulated level of 9%.
Branch Expansion
 Total number of branches increased to 1512 as on 31.03.2014.
 Total number of ATMs reached 1528.
 The bank opened 153 branches during the year of which 60 were in semi urban areas and 58 in rural areas.
Human Resources
 The total staff strength as of 31.03.2014 stood at 12822.
 During the year 2012-13 the Bank recruited total 1736 employees across all cadres .