Vysya Banks Q4 net down to Rs 3.72 crore
Our Banking Bureau
22 May 2002
Bangalore: Vysya Bank has reported a net profit of Rs 3.72 crore for quarter ended 31 March 2002 down 57.04 per cent from Rs 8.66 crore a year ago. But the total income surged to Rs 329.65 crore in the fourth quarter of 2001-02 up 23.43 per cent from Rs 267.07 crore a year ago.
The bank reported a net profit of Rs 42.99 crore for the financial year 2001-02 up 15.56 per cent from Rs 37.20 crore a year ago. The total income has increased to Rs 1,203.93 crore in 2001-02 from Rs 1,013.14 crore a year ago. While the total deposits stood at Rs 8,068 crore, advances were at Rs 4,418 crore. The banks board of directors has recommended a dividend of 35 per cent on equity shares subject to the Reserve Bank of Indias approval.
"The bank made a provision for Rs 15 crore towards voluntary retirement scheme (VRS) costs in the last fiscal; the remaining Rs 27 crore towards VRS will be adjusted over next five years," says Vysya Bank managing director K Balasubramanian.