Latest News | Karur Vysya Bank Reports Q4 Net Profits at Rs 104.37 Cr

Chennai, May 28 (PTI): Private sector Karur Vysya Bank has reported net profits at Rs 104.37 crore for the quarter ending March 31, 2021.

The Tamil Nadu-based bank had reported net profits of Rs 83.70 crore in the corresponding quarter last year.

For the year ending March 31, 2021 net profits stood at Rs 359.39 crore, Karur Vysya Bank said in a statement on Friday.

Total income from operations for the quarter under review slipped to Rs 1,565.78 crore from Rs 1,803.15 crore registered in the same quarter last fiscal.

Total income from operations for the year ending March 31, 2021 was Rs 6,527.07 crore.

The bank said its total business as of March 31, 2021 stood at Rs 1,16,098, registering a Year-on-Year growth of 7.91 per cent from Rs 1,07,591 crore registered in the same period last year.

Total deposits during the year ending March 31, 2021 grew to Rs 63,278 crore from Rs 59,075 crore as of March 31, 2020.

"Growth was driven by sustained improvement CASA mix, as well as retail term deposits", it said.

Net NPA (non performing assets) improved by 51 bps and dropped to 3.41 per cent as on March 31, 2021 from 3.92 per cent a year ago, backed by consistent follow-up and recovery measures.

In absolute terms, it has reduced by Rs 90 crore to Rs 1,719 crore from Rs 1,809 crore as on March 31, 2020, it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)