Karur Vysya Bank first quarter results revealed, total business crosses Rs 1 lakh crore

By NT Bureau Published on Jul 26, 2018 03:40 PM IST

Chennai: Karur Vysya Bank has revealed its first quarter results for the currenct financial year (FY) stating that the total business increased to Rs 1,05,440 crore as on 30 June, registering a nine per cent Y0Y growth, backed by a robust credit growth of 13 per cent.

The bank's total advances grew by Rs 5,485 crore to Rs.47,886 crore, from Rs 42,401 crore a release said. During the same period, total deposits increased from Rs 54,668 crore to Rs 57,554 crore.

A statement from the bank said CASA deposits stood at Rs 17,244 crore with a share of 30 per cent (up from 29 per cent a year ago). while net interest income for the quarter improved to Rs 584 crore, registering a growth of eight per cent.

The bank said operating profit increased by Rs 11 crore from Rs 449 crore to Rs 460 crore and that the net profit for the quarter stands at Rs 46 crore (Rs 148 crore during Q1 of previous year).

The bank's branch and ATM plus cash recyclers network stands at 790 and 2,337 respectively (corresponding position was 719 & 2,207 as on 30th June 2017).