BENGALURU:Vijaya Bank has recorded a fall in its net profit of 43 percent to D144 crore from D254 crore in the corresponding fiscal in the previous year.The gross advances have gone up by 31 per cent to D1,22,348 crore and the gross deposits have gone up by 19 per cent to D1,57,326 crore.
The bank’s gross non-performing assets (NPAs) improved from 7.3 per cent last year to 6.19 per cent this quarter and net non-performing assets improved from 5.24 per cent last year to 4.10 per cent this quarter.
The gross NPA as on June 30, 2018 was D7,579 crore while the net NPA was D4,903.92 crore. The net interest income is up by 27.86 per cent to Rs 1,207 crore.
RA Sankara Narayan, MD and CEO, Vijaya Bank, said, “The government of Karnataka has announced a farmer’s waiver but that will not have any adverse impact on us as such. We hope to recover D450 crore in such loans.”
The Net Interest Margin (NIM) improved by 20 bps to 3.12 percent and the retail credit has gone up by 25.44 per cent.The bank has 2,129 branches all over India with seven branches being merged between March and June.