Karur Vysya Bank announced Q3FY24 results: Assets: Karur Vysya Bank's total assets have reached a historical milestone, surpassing Rs 1 trillion. Business Growth: The bank's total business has increased by 14.74% YoY and by 3.15% for the quarter. Deposits Growth: Deposits have seen a rise of 12.82% YoY and 3.12% for the quarter. Loan Book Expansion: The loan book witnessed growth of 17.09% YoY and 3.19% for the quarter. CASA Ratio: Current Account Savings Account (CASA) grew by 4.70% YoY, with the ratio standing at 31.53%. Net Profit: There was a notable increase in net profit by 49.60% YoY. Net Interest Margin (NIM): The NIM improved to 4.20%, up by 9 basis points YoY. Other Income: The bank saw other incomes rise by 35.88% YoY. Return on Assets (ROA) & Return on Equity (ROE): The bank reported an ROA of 1.65% and ROE of 17.20% for the quarter. Asset Quality: Gross Non-Performing Assets (GNPA) stood at 1.58%, and Net Non-Performing Assets (NNPA) at 0.42% with a Provision Coverage Ratio (PCR) of 94.81%. Capital Adequacy: The Capital Adequacy Ratio (CRAR) was at 15.39% with CET 1 ratio of 13.87%. Mr. Ramesh Babu B, the Managing Director & CEO of Karur Vysya Bank, stated: "We have been able to continue to demonstrate our consistent performance in terms of Growth, Profitability, and Asset Quality for the third quarter ended 31st December 2023. Our total business crossed Rs 1,58,357 crore. The inclusive growth from all the business segments has helped us to reach net profit of Rs 1,149 crore for the nine months and Rs 412 crore for the quarter." Result PDF
Karur Vysya Bank announced Q2FY24 results: Total Business up by 14.15% YoY and 3.96% QoQ. Deposits up by 13.17% YoY and 2.92% QoQ. Loan Book grew at 15.33% YoY and 5.21% QoQ. CASA is up by 3.40% YoY, CASA ratio stood at 32.26%. Net Profit up by 53.86% YoY. NIM at 4.13%, up by 15 bps YoY. Other Income is up by 52.38% YoY. ROA at 1.57% for the quarter ROE at 16.50% for the quarter. GNPA at 1.73%, NNPA at 0.47%. PCR at 94.49%. Capital adequacy ratio (CRAR) stood at 16.84% with a CET 1 ratio of 15.19%. Ramesh Babu B, Managing Director & CEO, The Karur Vysya Bank said, "I am pleased to mention that our Bank had crossed the historical milestone of total business of Rs 1.5 trillion during the last quarter reached a level of Rs 1,53,516 crore. You would appreciate that we had crossed Rs 1.25 trillion in Mar 2022 and the next Rs 0.25 trillion has been crossed within a short span of 18 months. We have delivered yet another quarter of strong top-line and bottom-line performance with the highest ever quarterly net profit with consistent performance in terms of Growth, Profitability, and Asset Quality for the first half year ended September 30, 2023. It is a strong and consistent performance reaching significant milestones and building a solid foundation for the future. We have been constantly raising the bar on strengthening our digital capabilities and building on our robust pipeline of products and services while keeping customer centricity at the core of every initiative." Result PDF