KARUR VYSYA'S NET UP 21%
Article Abstract:
In 1997-98, Karur Vysya Bank Ltd (KVB) recorded a 21 percent jump in net profit, 36 percent growth in deposits, 21 percent increase in advances and 43 percent rise in gross profit. It has declared a dividend of 50 percent for the year. In 1998-99, KVB's deposits are expected to go up to Rs2500 crore and advances to Rs1500 crore. (gsh) --------------------------------------------------------- Financial Performance: Karur Vysya Bank Ltd (Rs in crore) --------------------------------------------------------- Particulars 1997-98 1996-97 --------------------------------------------------------- Total Income 322.44 253.27 --------------------------------------------------------- Gross Profit 83.14 58.13 --------------------------------------------------------- Net Profit 43.54 36.00 --------------------------------------------------------- Earnings per share (Rs) 72.57 60.12 --------------------------------------------------------- Reserves and surplus 155.29 115.48 --------------------------------------------------------- Deposits 2137.00 1575.00 --------------------------------------------------------- Advances 1154.00 956.00 --------------------------------------------------------- Investments 767.00 575.00 ---------------------------------------------------------
Comment:
Posts total income of Rs322.44 crore in 1997-98, up compared to Rs253.27 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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KARUR VYSYA BANK MULLS ENTERING CORE SECTOR FUNDING
Article Abstract:
The Karur Vysya Bank Limited (KVBL) now invests in government securities. It plans to fund infrastructure projects as a consortium from 1998-99. It is holding talks with the Infrastructure Development Finance Corporation (IDFC) for this purpose. It has identified consumer financing as an important segment for using its funds. It plans to tie up with corporate houses for group financing. It is likely to fund the software companies in Bangalore and Chennai. It gives loans to exporters of knitwear, basmati rice and cotton yarn. Its export credit is 13.81 percent compared to the mandatory 12 percent. Its credit off-take in the first half of 1998-99 was minimal. (rk)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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