Vijaya Bank''s Q3 net up 22 % at Rs 152 crore

Bangalore, Jan 24 (PTI) Vijaya Bank today reported a21.86 per cent jump in net profit to Rs 151.8 crore for thethird quarter, from Rs 124.57 crore in the year-ago period.

Net interest income for the December 2010 quarter rose by36.49 per cent, while net interest margin improved to 3.44per cent from 2.65 per cent in the corresponding three monthsof the last fiscal, bank Chairman and Managing Director AlbertTauro told a press conference here.

The bank''s total income rose by 9.46 per cent to Rs 1,584.4crore during October-December, from Rs 1,447.41 crore in thesame period of the previous year.

Net profit of Rs 151.80 crore is arrived at after makinga provision of Rs 95 crore for the second pension option, Rs98.03 crore or non-performing assets (NPA) and tax provisionof Rs 60 crore.

Gross NPA in the third quarter has gone up to Rs 1,073crore, compared to Rs 995 crore in the year-ago period, andthe net NPA from Rs 512 crore to Rs 598 crore.

Tauro said: "NPA is absolutely under check. There is noserious challenge on NPA. NPA is well within our control".

The bank''s aggregate business as of December 31 last yearstood at Rs 1,07,272 crore, comprising Rs 63,702 crore ofdeposits and Rs 43,570 crore of advances.

Tauro said the bank would open three corporate bankingbraches in Hyderbad, Chennai and Pune.