Karur Vysya Bank’s profit rises 18.71%

Karur Vysya Bank Ltd. has posted an 18.71% growth in its standalone net profit for the fourth quarter ended March 2019 to ₹60.02 crore from ₹50.56 crore in the year-earlier period, driven by growth in retail and corporate banking.

Total income rose to ₹1,746.04 crore from ₹1,699.53 crore. Income from retail banking rose 4.6% to ₹967.23 crore.

The bank’s gross non-performing assets (NPAs) deteriorated to 8.79% of gross advances from 6.56%, while net NPAs rose to 4.98% from 4.16%. The provision for bad loans and contingencies came down to ₹352.34 crore from ₹394.17 crore. The board recommended a dividend of ₹0.60 per share.

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