B Ramesh Babu, MD at Karur Vysya Bank on Tuesday said that the lender has crossed 4-digit profitability for the first time in FY23. Hailing the March quarter earnings, Babu said that the year has been a good one with respect to asset quality. The slippages were negative and the bank strengthened their collection mechanism as well, Babu told CNBC-TV18.Karur Vysya Bank on Monday reported 59 percent jump in net profit at Rs 338 crore for March quarter 2022-23 as bad loans fell. The lender’s asset quality improved, with gross non-performing assets (NPAs) falling to 2.27 percent of gross advances as of March 31, 2023, from 6.03 per cent a year ago. In value terms, gross NPAs of the bank…
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Karur Vysya Bank crosses 4-digit profitability for first time in FY23: B Ramesh Babu
