Karur Vysya Bank Ltd. (KVB) standalone net profit for the September quarter rose 25% to ₹473 crore on account of improvement in key metrics, said MD & CEO B. Ramesh Babu.
Net interest income grew 16% to ₹1,060 crore, while net interest margin improved to 4.11% from 4.07%, the private sector lender said in a statement.
Gross non-performing assets (NPA) declined by 63 bps to 1.10%, while net NPAs slid to 0.28% from 0.47%. Provision coverage ratio improved to 96.09% (86.94%).
Total business rose 15% to ₹1,76,138 crore. Deposits grew 15% to ₹95,839 crore, while advances rose 14% to ₹80,299 crore. Capital adequacy ratio stood at 16.28%.
“We have achieved another strong quarter of performance, guided by our three key metrics: growth, profitability, and asset quality,” said Mr. Babu.
“The bank’s performance indicators align with our guidance, demonstrating consistent and steady growth,” he said.
Published – October 17, 2024 06:49 pm IST
