Karur Vysya Bank Q3 net up five-fold to ₹185 crore
The Hindu
CHENNAI: Private sector lender Karur Vysya Bank Ltd’s (KVB) standalone net profit for the third quarter ended December grew more than five-fold to ₹185 crore on improved off-take by retail and busines
CHENNAI: Private sector lender Karur Vysya Bank Ltd’s (KVB) standalone net profit for the third quarter ended December grew more than five-fold to ₹185 crore on improved off-take by retail and business segment clientele.
During the period under review, net interest margin rose to 3.68% from 3.29% and net interest income improved by 18% to ₹687 crore. Non interest income (excluding treasury profit) improved to ₹209 crore from ₹197 crore, the bank said in a statement.
Gross NPAs declined to 6.97% from 7.37%, while net NPAs remained at 2.55%. Provision coverage ratio improved to 78.81% from 77.35%.
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