Karur Vysya Bank has reported a better performance in the first quarter ended June 30, 2012 in the wake of significant contributions from treasury operations and retail banking.
The bank surpassed the Rs. 57,000-crore mark in respect of total business with deposits registering a rise of 30.9 per cent to Rs. 32,952 crore. Advances increased by 33 per cent to Rs. 24,619 crore.
Total income rose to Rs. 1109.81 crore from Rs. 768.72 crore, showing a rise of 44.4 per cent year-on-year. The net profit for the first quarter increased by 25 per cent to Rs. 145.95 crore from Rs. 116.70 crore in the year-ago period The gross NPA (non-performing assets) stood at 1.53 per cent and the net NPA at 0.38 per cent with a provision coverage ratio of 75.51 per cent.
The capital adequacy ratio was 14.72 per cent under Basel II norms, well above the regulatory limit of 9 per cent.
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