Kolkata: Karur Vysya Bank on Monday reported a 45% jump in first quarter net profit at ₹756 crore as compared with ₹521 crore in the year ago period while its asset quality slipped a tad.The bank's pre-provision operating profit stood 36% higher at ₹1096 crore, against ₹805 crore earlier, backed by a 32% rise in net interest income at ₹1423 crore.Its net interest margin for the quarter stood at 4.34% as compared with 3.86% in the year-ago period. Its gross non-performing assets rose to 0.74% at the end of June from 0.66% a year prior.Net NPA stood unchanged at 0.19%. Total advances registered a 17% year-on-year growth to ₹1.05 lakh crore while total deposits rose 15% to ₹1.23 lakh crore.
Karur Vysya Bank net profit surges 45% to Rs 756 crore in Q1, asset quality sees slight slip
Karur Vysya Bank announced a significant 45% rise in first quarter net profit. This increase brought their earnings to ₹756 crore compared to the previous year. The bank's pre-provision operating profit also saw a substantial 36% jump. Net interest income grew by 32%, boosting overall financial performance. However, the bank's gross non-performing assets experienced a slight increase.
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