The Hindu Business Line : Karur Vysya Bank net up 46%

Karur Vysya Bank’s net profit rose to Rs 90.90 crore for the quarter ended September 2009 compared with Rs 62.24 crore during the corresponding period of the earlier year. The bank’s interest income jumped 23.6 per cent to Rs 433.97 crore (Rs 351.07 crore) and other income rose by 37.7 per cent to Rs 58.12 crore (Rs 42.21 crore). Total expenditure stood at Rs 374.96 crore (Rs 314.69 cr) and operating profit (before provisions and contingencies) was at Rs 22.99 crore (Rs 12.58 cr). The bank’s Managing Director, Mr P.T. Kuppuswamy, attributed the performance to a combination of factors such as maintaining good interest spread and a CD ratio of 72 per cent.

— Our Bureau

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