Vijaya Bank Posts 19 Per Cent Rise In Q3 Net

Bangalore, January 28: | Updated: Jan 29 2003, 05:30am hrs
Vijaya Bank has posted a net profit of Rs 52.60 for the third quarter ended December 31, 2002, registering a growth of 19.4 per cent compared to Rs 44.05 crore in the corresponding period of the previous fiscal. For the nine-month period ended December 2002, Vijaya Bank recorded a net profit of Rs 131.11 crore, a 29.6 per cent growth compared to Rs 101.20 crore during the nine-month period ended December 2001.

Its total deposits stood at Rs 15,413 crore in the nine-month period ended December 2002, compared to Rs 14,681 crore in March 2002. Return on assets improved from 0.81 per cent in March, 2002 to one per cent in December 2002. Earning per share improved from Rs 3.65 in March 2002 to Rs 5.24 in December 2002.

Future plans outlined by the bank include opening of 20 new branches by March 2003 and giving thrust on computerising branches.