Bangalore, July 24: Bangalore-based Vijaya Bank, which intends to merge housing arm with itself this year, has seen its net profit for Q1 ended 30 June touch Rs 80.90 crore, up 98.43% from the net profit of Rs 40.77 crore recorded in the same quarter last fiscal. The bank’s total income increased 30% from Rs 463.36 crore to Rs 602.7 crore. Total deposits at Vijaya Bank went up to Rs 17,169 crore from Rs 14,859 crore as on June 30, 2002, a rise of 15.5%. Advances increased from Rs 6385.16 crore for the quarter ended June 30, 2002 to Rs 8643.48 crore in the same quarter this fiscal.
Vijaya Bank has reported an increase in capital adequacy ratio from 12.15% in to 12.91% in Q1 this year. Earnings per share rose to Rs 9.70 up from Rs 4.89, in the same period. Returns on assets went up from 1.00 to 1.67 and Net NPA Ratio stood at 1.69 compared to 5.7. Disbursements under retail lending schemes amounted to Rs 385 crore. Bureau Report