Karur Vysya Bank profit jumps 133%

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February 12, 2021 9:33 AM

Karur Vysya Bank (KVB) has reported a 133% increase in its profit for the third quarter ended December 31, 2020 to Rs 35 crore from Rs 15 crore during the same period last year.

KVBNet interest margin stood at 3.29% and was almost flat compared to 3.33% a year ago.

Karur Vysya Bank (KVB) has reported a 133% increase in its profit for the third quarter ended December 31, 2020 to Rs 35 crore from Rs 15 crore during the same period last year. Net interest margin stood at 3.29% and was almost flat compared to 3.33% a year ago.

Non-interest income for the quarter, excluding treasury profit of Rs 54 crore, was at Rs 197 crore during the latest quarter, compared with Rs 215 crore a year ago (Treasury profit during Q3 of previous year was at Rs 45 crore).

Net NPA improved by 158 bps and dropped to 2.55% as on December 31, from 4.13% a year ago. In absolute terms, it got reduced by Rs 683 crore to Rs 1,263 crore from Rs 1,946 crore as on December 31, 2019. The provision coverage ratio stood at at 77.35%.

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