Vijaya Bank, reported second quarter profits of Rs71.43
crore, lower by 25.5 per cent against Rs95.89 crore
in the corresponding period of July-September 2003.
Total income during the quarter was Rs592.83 crore down
from Rs631.67 crore in the corresponding previous period.
drop in income from investments and higher provisions
for the reduced investments has resulted in the lower
numbers, the bank said in a press release.
Bank''s interest earned during the quarter rose to Rs509.35
crore from Rs472.15 crore in the corresponding previous
period. Income from investments fell to Rs213.69 crore,
(Rs227.91 crore). Other income fell to Rs83.48 crore,
bank increased its provisions and contingencies to Rs144.86
crore, up from Rs9,043 crore last fiscal. The bank has
reported an improved capital adequacy ratio of 13.4
per cent (12.96 per cent).
NPAs fell by 44.5 per cent from Rs138.35 crore in Q2
03-04 to Rs76.68 crore during the current fiscal. The
bank has reported a lower cost of deposits from 6.26
per cent to 4.23 per cent while cost of funds has also
come down from 5.58 per cent to 4.23 per cent.