Karur Vysya Bank reports marginal growth in Q1 net profit at Rs 109 crore

The outgo of deposits has improved by 84 ground points (bps) to 4.53% successful the 4th arsenic compared to 5.37% successful the aforesaid play erstwhile year, KVB said successful a release.

Karur Vysya Bank (KVB) connected Wednesday registered marginal maturation successful nett net astatine Rs 109 crore for the archetypal 4th of FY22 arsenic against Rs 106 crore successful the corresponding 4th of the erstwhile fiscal year.

The bank’s full income was somewhat little astatine Rs 1,596 crore successful the 4th nether reappraisal arsenic compared to Rs 1,693 crore successful the aforesaid play past year.Its nett involvement income improved 14% to Rs 638 crore arsenic against Rs 562 crore portion nett involvement borderline (NIM) stood astatine 3.55%.

The outgo of deposits has improved by 84 ground points (bps) to 4.53% successful the 4th arsenic compared to 5.37% successful the aforesaid play erstwhile year, KVB said successful a release. The non-interest income (including treasury profit) dropped to Rs 220 crore successful Q1FY22 arsenic compared to Rs 317 crore successful Q1FY21, erstwhile determination was a higher treasury nett of Rs 178 crore earned, arsenic compared to Rs 35 crore during the existent period.

Commission- and fee-based income person improved by Rs 26 crore to Rs 147 crore from Rs 121 crore portion operating expenses stood astatine Rs 429 crore arsenic compared to Rs 405 crore. KVB said its full concern was astatine Rs 1,16,713 crore, registering 7.4% growth. Credit portfolio grew 8% and gross advances stood astatine Rs 52,315 crore, up from Rs 48,617 crore. Improved recognition off-take successful retail and concern conception arsenic good arsenic jewel indebtedness portfolio, backed by integer processing and improved sourcing of loans done assorted channels aided recognition growth.

Jewel indebtedness portfolio registered maturation of Rs 3,258 crore (32.8%) and was astatine Rs 13,206 crore. Total deposits grew Rs 4,333 crore (7%) to `64,398 crore, up from Rs 60,065 crore. Growth was routed done sustained betterment successful CASA portfolio and retail-term deposits, it said. Gross NPA has declined to 7.97% arsenic compared to 8.34% portion nett NPA inched up to 3.69% arsenic against 3.44%. Provision sum stood astatine 72.40%.

On the superior adequacy front, the slope said the Basel III CRAR was astatine 19.06% (with CET1 ratio of 17.04%), up from 18.14%.