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Marginal rise in Vijaya Bank net profit

Special Correspondent

BANGALORE: Vijaya Bank reported a total income of Rs.6,377 crore in 2010-11, an increase of 8.45 per cent over the previous year.

The bank made a net profit of Rs.507.29 crore, 3.25 per cent more than in the previous year.

Net interest margin improved from 2.54 per cent to 3.04 per cent.

Total business of the bank amounted to Rs.1.22 lakh crore during the year.

H. S. Upendra Kamath, who recently took over as the bank's Chairman and Managing Director, attributed the marginal increase in profits to the burden imposed by wage-related costs.

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