Thursday, February 2, 2017

Low cost of fund, fewer slippages & improve in NIM pushes @VijayaBankIndia Q3 2016 net to Rs.230 cr.

Bengaluru headquartered Vijaya Bank has reported nearly fourfold jump in its net profit to Rs.230.28 cr for the third quarter ended December 2016.It had posted a net profit of Rs.52.61 cr in Q3 last year.According to Kishore Kumar Sansi, CEO Vijaya Bank, rise in the net profit can attributed to the availability of low cost of fund following demonetization, reduction in number of slippages and improve in NIM in this quarter.
Its total income rose to Rs.3,714.37 crore in this quarter from Rs.3,237.02 crore in the same period last year.