Karur Vysya Bank

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FPI investment in FAR securities had doubled, surpassing the Rs. 2 trillion mark within nine months of announcement of JP Morgan including Indian debt in its index

"Our cost of deposits is one of the most reasonable in the industry, and our yield on advances is in the 10.08 percent range "

Private sector Karur Vysya Bank on Thursday reported a 25.13 per cent rise, on its net profits for the July-September quarter at Rs 473.60 crore, a top official said. The Tamil Nadu-based bank recorded a net profits of Rs 378.45 crore during the corresponding quarter of last year. Net profits for the six-month period ending September 30, 2024, grew by 26.46 per cent, to Rs 932 crore as compared to Rs 737 crore recorded in the corresponding period of last year. Total income during the quarter under review soared to Rs 2,856.01 crore from Rs 2,335.97 crore registered in the same quarter of last financial year. "We have achieved another strong quarter of performance, guided by our three key metrics - growth, profitability and asset quality. The bank's performance indicators align with our guidance, demonstrating consistent and steady growth," the bank's Managing Director and CEO Ramesh Babu B said in a statement. The total business of the bank as on September 30, 2024, stood at Rs ..

Operating expenses for the quarter were Rs 667 crore compared to Rs 582 crore during the corresponding quarter of the previous year

Private sector Karur Vysya Bank has set a target of opening 100 new branches during the current financial year across the country, a top official said on Wednesday. The Tamil Nadu-based bank's 840th branch in Ayodhya was inaugurated by the bank's Chairperson Meena Hemchandra. Karur Vysya Bank Managing Director and CEO B Ramesh Babu said the bank had opened 39 branches during the current financial year and proposes to add about 100 new branches across the country during the period. In a statement, here, Babu said the bank recorded the highest-ever annual net profit of Rs 1,605 crore in the last financial year while the net Non-Performing Assets (NPA) were at 0.40 per cent as on March 31, 2024. "The bank continues its strong growth momentum, consistency in asset quality and profitability," he said. Babu along with Directors of the Bank Sarvashri K S Ravichandran, R Ramkumar and K G Mohan were present at the inauguration of the new branch in Uttar Pradesh, which is also the 35th bran

Private sector lender Karur Vysya Bank on Monday reported a 35 per cent rise in net profit to Rs 456 crore in the March quarter. The Tamil Nadu-based bank had earned a net profit of Rs 338 crore in the year- ago period. The total income increased to Rs 2,813 crore during the quarter under review, as against Rs 2,169 crore in the corresponding period a year ago, the bank said in a regulatory filing. The interest income of the bank grew to Rs 2,185 crore during the period under review, from Rs 1,768 crore in the corresponding quarter a year ago. On the asset quality side, the bank's gross non-performing assets (NPAs) moderated to 1.40 per cent of gross advances as of March 2024, from 2.27 per cent at the end of March 2023. Net NPAs also declined to 0.40 per cent of the advances, from 0.74 per cent at the end of 2023. However, provision and contingencies remained flat at Rs 293 crore. For the financial year ended March 2024, the bank's net profit increased 45 per cent to Rs 1,605 c

The deposits of South Indian Bank grew by 11.21% year-on-year (Y-o-Y) to Rs 1,01,929 crore from Rs 91,651 cr. Meanwhile, the deposits of Karur Vysya Bank rose by 16.28% Y-o-Y to Rs 89,113 cr

The bank's total income from operations saw a 24 per cent increase to Rs 2,497 crore for the quarter ending in December 2023, compared with Rs 2,013 crore in the same period a year ago

The lender announced that ICICI Prudential Asset Management Company Limited (ICICI AMC) received approval from the Reserve Bank of India (RBI) to increase its stake

Stocks to Watch on Monday, January 1, 2024: The RBI has allowed ICICI Prudential Asset Management Company to acquire aggregate holding of up to 9.95 per cent in Karur Vysya Bank

The bank reported its highest-ever quarterly profit of Rs 378 crore for the quarter ended September 2023, up 51 per cent from a year ago period.

Total advances were Rs 70,448 crore, marking a 15.32 per cent growth from Rs 61,086 crore in the previous year

Federal Bank, Karur Vysya have to ensure that acquisition does not exceed 9.5% of their paid-up share capital

Private sector Karur Vysya Bank announced a hike in benchmark lending rate by 0.15 per cent to 7.75 per cent even as the Reserve Bank left its key interest rates unchanged for the third straight meeting on Thursday. The new rate would be effective from August 14, Karur Vysya Bank said in a regulatory filing. The External Benchmark Rate - Repo linked (EBR-R) of the bank would be revised from 9.60 per cent to 9.75 per cent, it said. The Monetary Policy Committee (MPC) has decided to keep the policy repo rate unchanged at 6.50 per cent with preparedness to act, should the situation so warrant, Reserve Bank of India Governor Shaktikanta Das said earlier in the day. "Further, with monetary transmission still underway and headline inflation remaining higher than the 4 per cent target, the MPC decided to remain focused on withdrawal of accommodation to ensure that inflation progressively aligns with the target, while supporting growth," he said.

Operating profit up 36% to Rs 648 cr, net interest income rises 20% to Rs 897 crore

Private sector lender Karur Vysya Bank on Monday reported 57 per cent rise in net profit at Rs 359 crore for June quarter due to decline in bad loans and increase in interest income. The Tamil Nadu-based lender had posted a net profit of Rs 235 crore in the year-ago period. Total income during the quarter under review increased to Rs 2,216 crore from Rs 1,673 crore in FY23, Karur Vysya Bank said in a regulatory filing. Interest earned by the bank grew to Rs 1,883 crore over Rs 1,474 crore in June quarter a year ago. The bank's asset quality showed improvement as gross Non-Performing Assets (NPAs) declined to 1.99 per cent of gross advances by the end of June 2023, from 5.28 per cent as of June 2022. Similarly, net NPAs or bad loans eased to 0.59 per cent as against 1.93 per cent a year ago. However, Capital Adequacy Ratio of the bank declined 17.67 per cent from 18.98 per cent in the same quarter of FY23.

We will test the waters, ferret out information through our business correspondents, and only then open a branch: B RAMESH BABU, Karur Vysya Bank MD & CEO

Private sector Karur Vysya Bank on Monday under its expansion drive inaugurated its 800th branch in the city, a top official said. The Tamil Nadu-based lender also inaugurated its digital banking unit on the occasion. "We are delighted to inaugurate our 800th branch and other new branches today, which will provide our customers improved access and proximity to the bank's services," the bank's managing director and CEO B Ramesh Babu said in a statement. TVS Capital Funds Chairman Gopal Srinivasan formally inaugurated the 800th branch in Anna Nagar East, Chennai today. The first Digital Banking Unit (DBU) works completely on digital mode and customers would be able to open their savings account, get their welcome kit along with debit cards and can also apply for retail loans. On the unveiling of digital banking unit, Babu said, it is yet another initiative that would not only enhance customer experience but also be environment friendly which is a core focus area of the bank's corpor

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