SME Times News Bureau | 06 Feb, 2016
State-run Vijaya Bank on Friday reported net profit of Rs.53
crore for third quarter of 2015-16, registering 43 percent annual growth from
Rs.37 crore posted in same period a year ago.
The city-based bank's operating profit grew 26 percent to Rs.443 crore in the
quarter under review from Rs.351 crore in the like period year ago.
Vijay Bank's provision coverage ratio stood at 58.07 percent while gross Non
Performing Assets (NPA) ratio was 4.32 percent amounting to Rs.3,871 crore and
Net NPA ratio was 2.98 percent amounting to Rs.2,635 crore at the end of Q3
2015-16.
The bank's advances increased to Rs.89,696 crore against Rs.79,136 crore, with
priority sector portfolio advances rising to Rs.34,955 crore, direct
agriculture to Rs.12,859 crore and total retail advances to Rs.22,204 crore.
Advances to weaker section rose to by 34.84 percent and to women beneficiaries
by 26.67 percent.
The bank earned an interest of Rs.3,028 crore in the quarter under review
compared to Rs.3,033 crore earned in the year ago quarter.
Total business at the end of Q3 grew by 5.90 percent to Rs.2,15,171 crore from
Rs.2,03,187 crore while deposits saw a growth of 1.1 percent from Rs.1,24,051
crore to Rs.1,25,475 crore.
Net Interest Income (NII) in Q3 rose by 32.97 percent from Rs.555 crore to
Rs.738 crore while Net Interest Margin (NIM) improved to 2.44 percent from 1.88
percent.