Vijaya Bank Q4 net up 24% at Rs 224 cr
Bangalore: Vijaya Bank Friday reported 24 percent jump in net profit at Rs 224.15 crore for the fourth quarter ended March 31, 2013.
The public sector bank's net profit stood at Rs 180.97 crore in the year-ago period.
Total income of the bank rose by 17 percent to Rs 2,680.20 crore during the January-March 2013 quarter.
However, for the fiscal year ended March 31, 2013, the bank saw a mere 0.80 percent increase in net profit at Rs 585.61 crore from Rs 580.99 crore in 2011-12.
"With the signs of improving global and domestic economic scenario, the bank has set an ambitious target of reaching a business mix of Rs 2,00,000 crore by December, 2013," its Chairman and Managing Director H S Upendra Kamath told reporters here.
Net interest income for the March quarter grew by five percent. The bank had shed bulk deposits/certificate deposits to the tune of Rs 16,933 crore during 2012-13.
The percentage of bulk deposits/CDs has reduced from 46.47 percent as on March 31 last year to 22.30 percent on the same day in 2013.
Gross and net NPA ratios as on March 31 were 2.17 percent and 1.30 percent, compared to 2.93 percent and 1.72 percent, respectively, in the 2011-12 fiscal.
During the current fiscal, the bank aims to reach a business level of Rs 2,10,000 crore (deposits and advances put together), Kamath said.
Shares of the bank Friday settled higher by 1.83 percent at Rs 52.90 at the BSE.