Q3 HIGHLIGHTS
Total business reached all time high of Rs154320 crore up by 12 %
Advances up by 16%
Deposits up by 9%
Interest income up by 7.50%
Income on investments up by 13.03%
Capital Adequacy (Basel II) at 11.78 %
.jpg "Financial Results of Vijaya Bank for the Quarter ended 31st December,2012(Q3)")
With the advances increasing to Rs.65005 cr and deposits increasing to Rs.89315 cr, the Bank crossed Rs.1,50,000 cr milestones and the total business of the Bank reached an all time high figure of Rs.154320 crore. Interest income on advances of the Bank for the quarter increased by 7.50% and income on investments by 13.03%%. The Bank performed well on the recovery front also. Recovery from the written off accounts for the quarter ended December, 2012 is at Rs.26.78 cr against Rs.18.65 cr for the quarter ended December, 2011, up by 43.59%. Due to the constant vigil and monitoring, gross and net NPA numbers of the Bank could be contained at Rs.1888.87 cr and Rs.1098.10 cr respectively as on 31.12.2012, below the level of Rs.1896.52 cr and Rs.1116.45 cr as on 30.09.2012. Gross and net NPA ratios as on 31.12.2012 were at 2.91% and 1.71% against 3.17% and 1.90% as on 30.09.2012.
Capital to risk weighted assets ratio is comfortable at 11.78% (Basel II) with Tier I ratio at 8.80% and Tier II ratio at 2.98%. In line with the RBI guidelines, net profit for the nine months is not considered for arriving at the Tier I capital.
Total interest income of the Bank for the 9 months ended 31.12.2012 is Rs.5025.10 cr against Rs.4403.21 cr the corresponding period of the previous year up by 14.12%. Investment income of the Bank for similar period increased to Rs.1591.28 cr against Rs.1380.68 cr, registering a growth of 15.25%.
Advances of Rs.65005 as on 31.12.2012 includes aggregate priority sector advances of Rs.19366 cr under which segment, the Bank registered considerable growth of 20.14%. Aggregate agriculture loans increased to Rs.6968 cr, up by 32.50% and loans to MSME sector reached Rs.10257 crore, up by 31.77%. Loans to women beneficiaries increased by 31.99% and weaker sections by 31.98%.
MAJOR DEVELOPMENTS / INITIATIVES:
Total number of branches increased to 1332 as on 31.12.2012. One more Branch was opened during January 2013 and the total number of Branches presently is 1333.
Total number of ATMs reached 754. Another 49 ATMs were opened during January 2013 taking the total number to 803.
The Bank’s Disaster Recovery Site, Data Center and Department of Information Technology have been accredited with ISO27001 certification.
In October the Bank launched ‘Festival Bonanza', a six month business development campaign, from 1st October 2012, with a slew of attractive products in the offering.
Under Financial inclusion, on pan India basis, the Bank has covered all the allotted 407 villages, with population of above 2000 with Branch/BCA model. In Karnataka State, the Financial Inclusion has been completed in all the 325 villages with above 2000 population allotted to the Bank. Credit linkage has been provided to 32545 beneficiaries to the tune of Rs.119.26 cr in FI villages.
The Bank has participated in the Direct Cash Transfer programme of Government of India successfully in the identified 51 districts.
GUIDANCE MARCH 2013
Bank aims to reach a business level of Rs.165000 crore with a deposit target of Rs. 98000 crore and advance target of Rs. 67000 crore.
The Bank has taken steps for improving the net interest margin by shedding high costs deposits, improving CASA, improving yield on advances and maintaining the credit deposits ratio above 72.
Special focus on improving the fee based/non-interest income with target oriented approach.
Constant vigil on stressed assets to arrest further slippages and more effort on recovery in NPA accounts.
Churning the investment portfolio to take advantage of the market dynamics.
