State run Vijaya Bank’s profits offer a sliver of hope

February 10, 2016

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]F[/dropcap]or the third quarter of 2015-16, Vijaya Bank reported a net profit of Rs.53 Crores, compared to a year ago when Rs.37 Crores was posted .This marks a 43 percent annual growth. Profits increased from Rs 351 Crores to Rs 443 Crores, a 26 percent growth

The end of Q3 2015-16. ratio stood at 58.07 percent while gross Non Performing Assets (NPA) ratio was 4.32 percent amounting to Rs.3,871 Crores and Net NPA ratio was 2.98 percent amounting to Rs.2,635 Crores

Bank’s increased to Rs.89,696 Crores against Rs.79,136 Crores, with priority sector portfolio advances increase to Rs.34,955 Crores, Agriculture to Rs.12,859 Crores and total retail advances to Rs.22,204 Crores.

Advances to weaker section rose to by 34.84 percent and to women beneficiaries by 26.67 percent.

[dropcap color=”#008040″ boxed=”yes” boxed_radius=”8px” class=”” id=””]T[/dropcap]he bank earned an interest of Rs.3,028 Crores in the quarter under review compared to Rs.3,033 Crores earned in the year ago quarter.

Total business at the end of Q3 grew by 5.90 percent to Rs.2,15,171 Crores from Rs.2,03,187 Crores while deposits saw a growth of 1.1 percent from Rs.1,24,051 Crores to Rs.1,25,475 crores.

In Q3 Net Interest Income (NII) increased by 32.97 percent from Rs.555 Crores to Rs.738 Crores while Net Interest Margin (NIM) improved to 2.44 percent from 1.88 percent.

(With inputs from ians)