Karur Vysya Bank net drops 9.5%
Karur Vysya Bank (KVB) has posted a 9.5% drop in net profit at R113.04 crore for the third quarter against R124.92 crore in the same quarter last fiscal. The total income of the bank stood at R1,177.59 crore compared with R945.77 crore. Gross NPA was at R353.20 crore against R322.12 crore.
SBH net up 7%, NPA cover ratio hits 67%
State Bank of Hyderabad (SBH) reported a net profit of R321.72 crore, up 6.8% from R301.25 crore in the same quarter last year. Total income in the quarter rose 13.07% to R3,374.05 crore and the net interest income (NII) rose 15.47% to R976.10 crore. As the bank made higher provision towards bad loans, NPA provision coverage ratio rose from 51.34% to 67% y-o-y. Gross NPA remained flat at 3.38% against 3.35% last year, net NPA fell to 1.48% from 1.99% last year.
IOB may post better NIM in Q4
Indian Overseas Bank may see improved net interest margin (NIM) in the current quarter as it is repricing its bulk deposits, a top bank official said on Friday. “We have R19,000 crore of bulk deposit which will mature in the current quarter and will be subsequently repriced. This is likely to boost our NIM by around 20-25 basis points and we hope have a NIM of around 2.8% in the fourth quarter,” executive director ADM Chavali said.
IDFC net jumps 21% at R469 crore
Infrastructure projects financing company IDFC reported a 21% year-on-year (y-o-y) jump in net profits for the three months to December 2012 at R468.7 crore. The bottomline was driven up by a 39% y-o-y rise in net interest income to R757.7 crore. Total income from operations rose 32% y-o-y to 1,991.8 crore.