Chennai: Karur Vysya Bank has said its net profit grew by 43.5 per cent at Rs 165 crore for the September-ended quarter, as compared to Rs 115 crore in the corresponding period last year. This is on the back of lower provisioning made against bad loans and improved asset quality.
Net interest income improved 13.1 per cent to Rs 680 crore, net interest margin stood at 3.75 per cent, and fee-based income (excluding treasury profit) rose to Rs 144 crore from Rs 119 crore, the bank said.
The bank’s total income from operations during the July-September quarter of 2021-22, however, was down at Rs 1,561.05 crore as against Rs 1,577.45 crore in the same period of 2020-21, KVB said.