Karur Vysya Bank reports that third-quarter net earnings decreased 29%

Chennai: Karur Vysya Bank reports that net earnings decreased 29% to Rs 15 Rs for the quarter ended December 2019, compared to Rs 21 Rs in the same period last year. Sequentially the bank reported a profit of Rs 63 crore.

The net interest margin for the quarter remained solid at 3.33%, while net interest income and other income remained stable. In the third quarter, the deposit grew 6% (Rs 3,638 million rupees) to Rs 62,262 million rupees, and CASA's share improved to 31% (Rs 19,063 crore).

Bad loans from the private bank (gross NPA) have risen to 8.92% in December 2019 from 8.49% in December 2018, compared to 8.89% in September 2019.

The coverage ratio of the provision has increased in the last four quarters to a maximum of 65.43%, an increase of 857 bps. Year after year, the growth of the advances was moderated to 4% (Rs 1,847 million rupees) from Rs 47,766 million rupees to Rs 49,613 million rupees, despite the decline in the corporate portfolio due to the general market conditions .

Live plus Retail credit growth continues to be strong at 21%. Gold loans have grown by 10% (year to year), helped by the migration of the subscription process to a digital platform and have resulted in an increase in the portfolio of Rs 450 million during the quarter, compared to 250 Rs million during the last quarter.

La adecuación del capital se mantuvo sólida en 15.87%, con una relación CET-1 en 14.14% mucho plus alta que los mínimos regulatorios de 7.375%. Las acciones del banco terminaron en Rs 45,9 cada una, un 4% menos que la EEB.