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Category: Karur Vysya Bank
South Indian Bank, Karur Vysya Bank post double digit growth in deposits | Company News
Private sector lenders South Indian Bank and Karur Vysya Bank posted double digit growth in deposits at the end of the quarter ending March 31, 2024. The deposits of South Indian Bank grew by 11.21 per cent year-on-year (Y-o-Y) to Rs 1,01,929 crore from Rs 91,651 crore. Meanwhile, the deposits of Karur Vysya Bank rose by 16.28 per cent Y-o-Y to Rs 89,113 crore. Click here to follow our WhatsApp channel The (Current Account Savings Account) CASA deposits of Thrissur-based lender South Indian Bank grew by 8.03 per cent Y-o-Y to Rs 32,654 crore, whereas Karur Vysya Bank posted a 6.43 per cent uptick in CASA deposits to Rs 27,085 crore. Meanwhile, the advances of Karur Vysya Bank rose to…
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Karur Vysya Bank inaugurated new branch
Chennai: Karur Vysya Bank today inaugurated a new branch in KARAMBAKKUDI, Pudukottai District, Tamil Nadu. With this the total branch network of the bank increased to 839.
Dr. M. Sathya, M.B.B.S., DDVL, Chief Medical Officer, Government Hospital, Karambakkudi has Inaugurated the branch.
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About Karur Vysya Bank: The Bank has built its financials around three pillars – Growth, Profitability and Asset Quality. The bank’s total business was Rs. 1,58,357 crores as on 31.12.2023 with a deposit base of Rs. 85,665 cr. and advances at Rs. 72,692 cr. The bank posted net profit of Rs. 412 cr. in Q3…
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Source: https://www.psuconnect.in/news/karur-vysya-bank-inaugurated-new-branch/42217
Karur Vysya Bank inaugurates new branch in Karambakkudi
Karur Vysya Bank today inaugurated a new branch in KARAMBAKKUDI, Pudukottai District, Tamil Nadu. With this the total branch network of the bank increased to 839.Dr. M. Sathya, M.B.B.S., DDVL, Chief Medical Officer, Government Hospital, Karambakkudi has Inaugurated the branch.Shares of Karur Vysya Bank Limited was last trading in BSE at Rs. 188.05 as compared to the previous close of Rs. 191.45. The total number of shares traded during the day was 86621 in over 1932 trades.The stock hit an intraday high of Rs. 191.75 and intraday low of 185.35. The net turnover during the day was Rs. 16371170.00.
Source : Equity Bulls
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Karur Vysya Bank crosses 4-digit profitability for first time in FY23: B Ramesh Babu
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 Expands Reach with New Branch in KARAMBAKKUDI
Karur Vysya Bank today inaugurated a new branch in KARAMBAKKUDI, Pudukottai District, Tamil Nadu. With this the total branch network of the bank increased to 839.
Dr. M. Sathya, M.B.B.S., DDVL, Chief Medical Officer, Government Hospital, Karambakkudi has Inaugurated the branch.
The Bank has built its financials around three pillars – Growth, Profitability and Asset Quality. The bank’s total business was Rs. 1,58,357 crores as on 31.12.2023 with a deposit base of Rs. 85,665 cr. and advances at Rs. 72,692 cr. The bank posted net profit of Rs. 412 cr. in Q3 2023-24. Other key financial ratios include Net NPA – 0.42%,…
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Source: https://smestreet.in/infocus/karur-vysya-bank-expands-reach-with-new-branch-in-karambakkudi-4485410
KVK opens new branch at Karambakudi
Karur Vysya Bank on Monday inaugurated a new branch at Karambakudi in Pudukottai district. With this, the total number of branches of the bank has gone up to 839. M. Sathya, Chief Medical Officer, Government Hospital, Karambakudi, inaugurated the new branch, a KVB press release said.
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The ECL model will not dent profits much: Karur Vysya Bank MD & CEO | Company News
The 107-year-old Karur Vysya Bank has reduced its share of the corporate segment in advances over the past two years. B RAMESH BABU, managing director and chief executive officer of the generations-old private bank, in an exclusive phone call with Shine Jacob, says the bank is targeting a growth rate of 14 per cent in the current financial year (2023-24, or FY24) and that the expected credit loss (ECL) model for provision will not affect its profitability to a large extent. Edited excerpts: The share of corporations in your advances has nearly halved from 40 per cent to 22 per cent in two years. What is your strategy? Click here to follow our WhatsApp channel We have restricted the…
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Total deposits up 12.8%, advances up 17.1% YoY
Tamil Nadu-headquartered Karur Vysya Bank has regrouped its December quarter (Q3FY23) numbers. According to the lender’s Q3FY24 business update, the numbers are different, compared to its figures in Q3FY23.The re-grouping of the bank’s Q3FY23 numbers mean that the year-on-year (YOY) growth rates have seen changes as follows:
– Total business at ₹1,58,357 crore, up 14.74% year-on-year.
– Deposits at 12.82% vs without re-grouping at 11.67%
– Advances at 17.09% vs without re-grouping at 12.69%
– CASA at ₹27,012 crore, up 4.7%The bank had reported a 51% surge in net profit at ₹378 crore in the second quarter of this fiscal (Q2FY24).The Tamil Nadu-based company’s operating profit for…
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Karur Vysya Bank opened 5 new Branches
Chennai: Karur Vysya Bank announced the inauguration of its 5 new branches in Andhra Pradesh, Telangana & Tamil Nadu.
These new branches will offer a comprehensive range of banking services like accounts, deposits and loans including savings and current accounts etc., With this, the branch network of the Bank has increased to 786.
The branches inaugurated recently are:
Avanigadda, Krishna Dist., Andhra PradeshTagarapuvalasa, Visakhapatnam Dist., Andhra PradeshRayakottai, Krishnagiri Dist., Tamil NaduTiruvottiyur, Chennai, Tamil NaduShadnagar, Ranga Reddy Dist., Telangana
Commenting on the inauguration of new branches, Mr. B. Ramesh Babu, MD & CEO of Karur Vysya Bank said, “We…
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Source: https://www.psuconnect.in/news/karur-vysya-bank-opened-5-new-branches/31355/