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Karur
Vysya Bank increases income and profit
Our Banking
Bureau
31 October 2005
 Chennai:
Private
bankd Karur Vysya Bank Limited has posted a net profit
of Rs65.12 crore for the first half of the current fiscal
as against Rs.54.54 crore for the corresponding half year
of the previous fiscal.
The net profit has been arrived at after providing for
non-performing assets (NPA), standard assets and depreciation
on investments as per RBI guidelines and other usual and
necessary provisions.
Total interest income went up from Rs298.75 crore to Rs.314.93
crore. Interest on advances grew by 13.62 per cent to
Rs.217.94 crore from Rs.191.82 crore. The bank was able
to increase its other income from Rs49.25 crore to Rs56.02
crore on the back of improved treasury and fee-based income.
The total deposits of the bank as on 30.9.2005 stood at
Rs6,544.53 crore as against Rs,.5738.38 crore, a year
ago. The total advances stood at Rs4851.02 crore. Net
NPA as a percentage of net advances stood down at 1.36
per cent as on  30.09.2005
as against 2.16 per cent a year ago. The NPA provision
coverage ratio stood improved at 71.63 per cent as on
30.9.2005 as against 64.29 per cent a year ago.
The capital adequacy ratio of the bank is comfortable
at 16.83 per cent.
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