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Business Economy


KVB Total business up by 14.93 pc

KVB Total business up by 14.93 pc

Chennai, Jan 20 (UNI) Karur Vysya Bank (KVB) on Monday announced that it

Total business increased by 14.93% YOY and 3.32% for the quarter.

Announcing the results for the quarter and nine month ended December 31, 2024,

a KVB release said the deposits went up by 15.75% YOY and 3.46% for the quarter.

Loan Book grew at 13.96% YOY and 3.16%, CASA up by 4.28% YOY, CASA ratio

stood at 28.41%, PPOP up by 21.15% YOY, NIM at 4.09%, down by 11 bps YOY.

While Other Income up by 29% YOY, Cost to Income Ratio for the period is at 47.06%.

The ROA stood at 1.74% for the quarter and ROE at 17.42%. The GNPA at 0.83%,

NNPA at 0.20% and Capital adequacy ratio (CRAR) stood at 15.91% with CET 1

ratio of 15.03%.

KVB Director and CEO Ramesh Babu.B said “We have continued another strong

quarter of performance, guided by our three key metrics: growth, profitability, and

asset quality."

The bank’s performance indicators align with our guidance, demonstrating consistent

and inclusive growth.

"We have maintained strong trajectory of growth in RAM (Retail, Agriculture, and

MSME) verticals, continuing the solid start we made at the beginning of the year",

he said.

"I am confident that the same will be maintained going forward", he added.

Mr Ramesh Babu said "Our total business crossed Rs 1,81,993 crore. The inclusive

growth from all the business segments has supported for reaching a net profit of

Rs 1,428 crore for the nine months period”.

Balance sheet size as of December 31, 2024 was Rs 1,16,373 crore as against

Rs 1,02,868 crore as of December 31, 2023, a growth of 13.13%.

Total business stands at Rs 1,81,993 crore, registering a Y-o-Y growth of 14.93%

i.e. up by Rs 23,636 crore from Rs 1,58,357 crore as on 31.12.2023.

Total deposits stands at Rs 99,155 crore, registering a Y-o-Y growth

of 15.75% i.e. up by Rs 13,490 crore from Rs 85,665 crore.

Total advances stands at Rs 82,838 crore, registering a Y-o-Y growth

of 13.96% i.e. up by Rs 10,146 crore from Rs 72,692 crore.

On the financial performance for nine months, Mr Ramesh Babu said

Net profit for the nine months registered a robust growth of 24.28% and

stood at Rs 1,428 crore from Rs 1,149 crore during corresponding nine

months of the previous year.

PPOP increased by 21.15% is at Rs 2,377 crore, as compared to Rs 1,962

crore. Net interest income increased by 12.40% to Rs 3,163 crore vis-à-vis

Rs 2,814 crore, Net interest margin stands at 4.09% down by 11 bps as

compared to 4.20% ,Cost of deposits increased by 44 bps and stands at

5.57% as compared to 5.13%, Yield on advances grew to 10.12% by 24 bps

as compared to 9.88%.

The Commission and fee based income has improved by 12.92% on Y-o-Y

basis to Rs 708 crore from Rs 627 crore for corresponding nine months of

the previous year.

Operating expenses for the nine months was Rs 2,114 crore as compared to

Rs 1,882 crore during the corresponding nine months of the previous year.

Cost to income ratio stands at 47.06% (48.95% for 9M of previous year).

On the financial performance for Q3, he said Net profit registered a robust

growth of 20.39% and stood at Rs 496 crore from Rs 412 crore during

corresponding quarter of previous year.

PPOP increased by 20.56% is at Rs 815 crore, as compared to Rs 676 crore,

Net interest income increased by 7.79% to Rs 1,079 crore vis-à-vis Rs 1,001 crore,

Net interest margin stands at 4.03% as compared to 4.32 %, Cost of deposits has

increased by 41 bps and stands at 5.66% as compared to 5.25%, yield on advances

has stagnated at 10.16% as compared to 10.16% for the corresponding quarter of

the previous year.

UNI GV 1835

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