Friday, January 30, 2015

#VijayaBank Q3 net profit up by 228%

Vijaya Bank 's Q3 profit has jumped 228.36% to reach Rs 37.4 cr from Rs.11.39 cr same quarter last fiscal.Rise in Net interest income, the difference between interest earned and interest expended, grew by 12 percent to Rs 555 crore during October-December quarter from Rs 495 crore in the year-ago period.
Interest income on advances for 3 months period ended Dec 31,2014 increased to Rs.2140 cr against Rs.1943 cr for the corresponding period of last year, up by 10.14%.

Income on investments for Q3 of FY 2014-15 registered an Y-o-Y growth of 24.47% ie; increased to Rs.824 cr from Rs.662 cr for the 3 months period ended 31st Dec, 2013.Total income of the Bank for the 3 months ended 31st Dec, 2014 increased to Rs.3303 cr against Rs.2875 cr for the quarter ended 31st Dec, 2013, up by 14.89%.
Provisions for bad loans increased 93.5 percent year-on-year (up 103.3 percent quarter-on-quarter) to Rs 308.4 crore in the quarter gone by. Tax expenses for the quarter were Rs 4.74 crore against tax gain of Rs 3.06 crore in the year-ago quarter. Asset quality was weakened during the quarter as gross non-performing assets (NPA) climbed 25 basis points year-on-year (up 7 bps quarter-on-quarter) to 2.92 percent. Net NPA was 1.89 percent in Q3FY15, increased compared to 1.88 percent in previous quarter and 1.57 percent in same quarter last fiscal. Capital adequacy ratio (as per Basel III norms) was 10.57 percent during the quarter against 10.21 percent in Q2FY15 and 10.76 percent in Q2FY14.