Monday, July 28, 2014

#Vijaya Bank's Q1 net profit jumps 22% to Rs 161 crore

Vijaya Bank's Q1 net profit jumps 22% to Rs 161 crore
Bangalore head quartered Vijaya Bank has posted a net profit of Rs.161.46 cr which is higher by 21.89% when compared to Rs.132.46 cr for the corresponding quarter of the previous year.

The total income during the quarter increased to Rs 3,189.85 crore from Rs 2,698.82 crore in the year-ago period.

Total business for the period ended June 30th, 2014 registered a growth of 12.94% and increased to Rs.195768 cr from Rs.173333 cr as of 30th June, 2013.

Highlights of the Q1 results 

  • Deposits increased from Rs.105368 cr as on 30th June, 2013 to Rs.118677 cr as on 30th June, 2014, up by 12.63%.
  • Advances increased to Rs.77091 cr as on 30th June, 2014 from Rs.67964 cr as on 30th June, 2013, up by 13.43%.
  • Priority Sector portfolio increased by 32.38% ie., from Rs.19005 cr as of 30.06.2013 to Rs.25158 cr as of 30.06.2014
  • MSME advances increased to Rs.12243 cr registering a growth of 16.27%.
  • Retail advances increased to Rs.15945 cr as of 30.06.2014 from Rs.13499 cr as of 30.06.2013, up by 18.12%.
  • Advances to Weaker Section increased by 28.73% and Advances to Women beneficiaries increased by 15.34%.
    Bank’s Gross NPA ratio as on June 30, 2014 is 2.68%.
  • Net NPA ratio of the Bank as on June 30, 2014 is 1.77%.
  • Provision coverage ratio of the Bank is at 63.75% as on 30.06.2014.
  • Capital to risk weighted assets ratio is at 10.46 %( Basel III) with
    Tier I ratio at 8.14% and Tier II ratio at 2.32%.
  • CRAR of the bank is above the minimum stipulated level of 9%.
  • The Bank is in the process of raising equity capital to the tune of Rs.600 cr through ‘Qualified Institutional Placement’ route for augmenting the Tier I capital.