Online edition of India's National Newspaper
Sunday, Apr 27, 2008
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Online edition of India's National Newspaper Sunday, Apr 27, 2008 ePaper | Mobile/PDA Version |
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Karnataka
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Bangalore
Total deposits have increased by
27.52 per cent Credit-deposit ratio has increased to 66.77 per cent BANGALORE: Vijaya Bank has netted a profit of Rs. 361.26 crore for the financial year 2007-08, bettering its previous fiscal net profit by 9.03 per cent. Its total business has touched Rs. 79,971 crore, recording an annual growth of 28.47 per cent, according to the annual results of the bank released here on Saturday. The bank opened 73 new branches during 2007-2008 to reach the total branch strength of 1,051 as on March 2008. Its asset quality has further improved during the year and the gross non-performing assets ratio came down from 2.29 per cent in March 2007 to 1.6 per cent in March 2008. The bank’s net profit before incremental provision for market-to-market (MTM) diminution in the value of investments of the bank stood at Rs. 477.71 crore, recording a growth of 44.18 per cent. The bank suffered market diminution in the value of investments amounting to Rs. 272.12 crore in the fourth quarter due to adverse movement in bond yield and volatility in the equity market during the last fortnight of the quarter. The bank’s operating profit for the year is Rs. 660.86 crore. The interest income from advances increased from Rs. 1,763.71 crore to Rs. 2,704.40 crore. In the business section, the bank increased its total business by 28.47 per cent from Rs. 62,248 crore to Rs. 79,971 crore. The total deposits increased by 27.52 per cent from Rs. 37,604 crore to Rs. 47,952 crore. The gross advances increased by 29.93 per cent from Rs. 24,644 crore to Rs. 32,019 crore. The credit-deposit ratio increased from 65.53 per cent to 66.77 per cent.
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