Vijaya Bank posts net profit of Rs 267.69 crore in Q3

Vijayawada, Jan 29 (UNI) The Vijaya Bank has posted a net profit of Rs 267.69 crore in the quarter ending December 31, 2006 as against Rs 161.41 crore in the corresponding period last year, registering an impressive growth of 65.84 per cent.

According to bank release, the operating profit from core business for the Q3 was Rs 492.59 crore, recording a growth of 18.27 per cent.

The gross operating profit increased by Rs 7.15 crore from Rs 536.77 crore to Rs 543.92 crore inspite a drop in profit on sale of investments by Rs 68.96 crore.

The bank's gross Non-Performing Assets (NPA) stood at Rs 520.31 crore as against Rs 540.15 crore on 31.03.2006.

The bank achieved a total business of Rs 53,975 crore till December 12, 2006.

The release further said the earning per share had gone up from Rs 3.72 to Rs 6.17 and the book value per share had also gone up from Rs 39.32 to Rs 42.02.

The agriculture credit constituted 13.36 per cent of the net bank credit, growing 13.25 per cent.

To cater to the needs of its customers, the bank had implemented Core Banking Solution at 409 branches.

UNI