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10 p.c. final dividend from Vijaya Bank
Special Correspondent
BANGALORE:
Vijaya Bank has touched the milestone of Rs. 40,000 crores in total business up from Rs. 32,350 crores, while its net profit for the year ended March 31, 2005 declined to Rs. 380.57 crores from Rs. 411 crores in the previous year. The bank has declared a final dividend of 10 per cent taking the total dividend to 25 per cent for the year.
The Chairman and Managing Director, M. S. Kapur said the bank aimed at increasing its total business to Rs. 50,000 crores comprising Rs. 31,000 crores of deposits and Rs. 19,000 crores of advances by March 2006.
The net profit had been arrived at after providing Rs. 23 crores towards the impending wage revision for officers and award staff, he said. Non-interest income declined to Rs. 353.67 crores in 2005 from Rs. 525.69 crores in 2004.
The net non-performing assets declined by 15.36 per cent from Rs. 99.97 crores to Rs. 84.61 crores.
The bank is holding a floating provision of Rs. 213 crores for NPAs over and above the minimum prudential provision of Rs. 130.53 crores required as per RBI norms.
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