Date:28/10/2005 URL: http://www.thehindubusinessline.com/2005/10/28/stories/2005102802340600.htm

Back Karur Vysya Q2 net up 35 pc

Our Bureau

Coimbatore , Oct. 27

KARUR Vysya Bank's net profit during the second quarter of the current fiscal rose 34.54 per cent to reach Rs 27.5 crore against Rs 20.44 crore in the corresponding quarter of the earlier fiscal.

The total interest income increased to Rs 161.92 crore (Rs 146.56 crore). Interest on advances recorded a growth of 24.14 per cent, while the other income at Rs 37.77 crore (Rs 26.54 crore) registered 42 per cent growth.

The net profit in the first half went up 19.4 per cent to Rs 65.12 crore (Rs 54.54 crore).

Mr P. T. Kuppuswamy, Chairman, KVB, said the bank was able to increase its other income on the back of improved treasury and fee-based income.

The main reason for the increase in operating expenditure was the amortisation of premium amounting to Rs 11.12 crore recognised on securities under Held-to-Maturity category vis-à-vis Rs 1.15 crore for the comparable period of the earlier fiscal.

The total deposits as at September 2005 crossed the Rs 6,500-crore mark (Rs 5,738.38 crore) to record 14 per cent growth.