KVB net up 42.56% at Rs 412 crore in Oct-Dec 2023
The south-based bank had reported a net profit of Rs 289 crore during the corresponding quarter of previous year.
Representative image
CHENNAI: Private sector Karur Vysya Bank has reported a 42.56 per cent jump on its net profit for the October-December 2023 quarter to Rs 412 crore, the lender said on Monday.
The south-based bank had reported a net profit of Rs 289 crore during the corresponding quarter of previous year.
For the nine month period ended December 31, 2023 the net profit surged by 49.61 per cent to Rs 1,149 crore, from Rs 768 crore registered during the corresponding period of last year.
Total income during the quarter under review grew to Rs 2,497.17 crore from Rs 2,012.71 crore registered during the same period of last year. Total business as on December 31, 2023 stood at Rs 1,58,357 crore up by 14.74 per cent from Rs 1,38,013 crore registered during the same period of last year.
On the asset quality, the bank said the Gross Non Performing Assets (GNPA) has improved by 112 basis points at 1.58 per cent of gross advances as on December 31, 2023 at Rs 1,152 crore as compared to 2.70 per cent, Rs 1,674 crore as on December 31, 2022.
