New Delhi, Jan 23 (PTI) State-owned Vijaya Bank Wednesday reported a 80.2 per cent jump in its net profit to Rs 143.38 crore for the December 2018 quarter. Also Read - Good News For Jan Dhan Account Holders: No Charges to be Levied by Banks for Debit
The public sector lender had posted a net profit of Rs 79.56 crore in the corresponding quarter of the previous fiscal. Also Read - Home Loan Interest Rates Hit 15-year Low: SBI, Bank of Baroda, HDFC Bank Launch Festive Offers
The bank’s total income also rose to Rs 4,106.42 crore during the period, compared with Rs 3,450.81 crore a year ago, Vijaya Bank said in a regulatory filing. Also Read - Banking Operation, ATM Services to be Affected as Trade Unions Call For Nationwide Strike on Jan 8
The bank’s gross non-performing assets (NPAs) declined marginally to 6.14 per cent, against 6.17 per cent in the same quarter of last fiscal.
However, net NPAs rose to 4.08 per cent during October-December 2018, compared with 3.99 per cent in the year-ago period.
During the quarter, the provision for bad loans nearly doubled to Rs 582.22 crore from Rs 333.26 crore a year ago.
This is the second last quarterly result of the bank ahead of its amalgamation with Bank of Baroda beginning April 1,2019.
The bank’s shares Wednesday fell by Rs 1.20, or 2.65 per cent, to close at Rs 44.15 apiece on the BSE.
This is published unedited from the PTI feed.