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Karur
Vysya Bank proposes 100 per cent dividend
28 May 2007
 Chennai:
One of the old private sector banks the Karur based
The Karur Vysya Bank Ltd has closed the FY07 with a total
income and net profit of Rs986.65 crore and Rs160.01 crore.
During the previous year the bank had earned a total income
of Rs771.45 crore and a net profit of Rs135.35 crore.
For
the fourth consecutive year the bank board has proposed
100 per cent dividend to the shareholders.
During
the financial year 2006-07 the bank's interest income
from advances portfolio increased 37.06 per cent from
Rs453.16 crore to Rs621.11 crore indicating the bank's
thrust in improving its income from advances portfolio.
The bank recorded non interest income of Rs119.15 crore.
The
bank's total business went up to Rs16,380.77 crore (deposit
Rs9340.29 crore and advances Rs7040.48 crore) for the
year under review. Last fiscal the bank did a total business
of Rs13132.28 crore (deposit Rs7576.84 crore and advances
Rs5555.44 crore).
According
to the chairman P T Kuppuswamy, the bank's capital adequacy
ratio stands at 14.51 per cent, in spite of robust growth
in advances, as against the regulatory minimum of 9 per
cent. The bank achieved the distinction of being the first
amongst the old private banks in Tamil Nadu to cross the
Rs1000 crore of net owned fund. The bank's net owned fund
at the end of the last fiscal is Rs1063.16 crore.
Last
year Karur Vysya Bank reduced its gross non performing
assets (NPA) to gross advances to 2.82 per cent (3.91
per cent previous year) and net NPAs to net advances to
0.23 per cent (0.81 per cent previous year) rolling out
a series of recovery measures.
 The
bank is well equipped to migrate to Basel II regime as
100 per cent of the operations are computerized.
For
the FY08 Karur Vysya Bank is targeting to reach deposits
of Rs12000 crore and advances of Rs9020 crore.
Other
reports on Karur Vysya Bank
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