Tuesday, May 12, 2015

#Vijaya Bank Q4 net droppd 29% due to restructuring of advances

Vijaya Bank Q4 net droppd 29% to Rs.97 crore for the fourth quarter ended March 2015 compared to Rs 136 crore in the corresponding quarter last year mainly due to restructuring of advances said Kishore Sansi, Managing Director & CEO.Four coporate accounts in the power and infra sector had loan restructuring to the tune of Rs.421 crore which has impacted the Q4 net profit. The total income for the quarter went up 12.4% to Rs 3,406 crore compared to Rs 3,029 crore in the same period last year.The operating profit of the Bank also declined by 6.3% to Rs 312 crore from Rs 333 crore in the year ago quarter. The net interest income, though, went up by 18.2% to Rs 623 crore as against Rs 527 crore a year ago.


Other Highlights of Q4

 Interest income on advances for 3 months period ended 31.03.2015 increased to Rs.2192 cr against Rs.2003 cr for the corresponding period of last year, up by 9.44%.
 Income on investments for Q3 of FY 2014-15 registered Y-o-Y growth of 23.77% ie; increased to Rs.880 cr from Rs.711 cr for the corresponding period of the previous year.
 Other income of the Bank increased from Rs.190 cr for the quarter ended March, 2014 to Rs.274 cr for the quarter ended March, 2015, up by 44.21%
 Total income of the Bank for the 3 months ended 31st Mar, 2015 increased to Rs.3406 cr against Rs.3029 cr for the quarter ended 31st Mar, 2014 up by 12.45%.