Vijaya Bank NPAs jump to Rs 6,027 crore

Its net NPAs also increased to 4.81 per cent as against 1.92 per cent at the end of March 2015. Provisions rose to Rs 653 crore from Rs 305 crore.

By: ENS Economic Bureau | Mumbai | Published:May 13, 2016 1:51 am
Vijaya Bank, Vijaya bank earnings, Vijaya Bank shares, NPAs of Bank, India news Total income of the bank declined to Rs 3,228.48 crore in the January-March quarter of the 2015-16 fiscal as against Rs 3,408.12 crore in the year-ago period.

State-owned Vijaya Bank has reported a 146 per cent rise in non-performing assets (NPAs) as on March 31, 2016, following the RBI directive to review certain loan accounts. Gross NPAs as a percentage of total advances rose to 6.64 per cent, or Rs 6,027 crore, from 2.78 per cent, or Rs 2,443 crore, in the same quarter a year ago.

Its net NPAs also increased to 4.81 per cent as against 1.92 per cent at the end of March 2015. Provisions rose to Rs 653 crore from Rs 305 crore. “The RBI has advised the bank to review certain loan accounts, their classification and provisioning over the two quarters ending December 31, 2015 and March 31, 2016. The bank has carried out this exercise over the time frame stipulated by the RBI,” the bank said.

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It has reported a 26 per cent decline in net profit to Rs 71.31 crore for the March quarter as against a net profit of Rs 96.80 crore in the January-March quarter of 2014-15 fiscal.

Total income of the bank declined to Rs 3,228.48 crore in the January-March quarter of the 2015-16 fiscal as against Rs 3,408.12 crore in the year-ago period.

For entire 2015-16 fiscal, the bank’s net profit slipped to Rs 381.80 crore compared with Rs 439.41 crore in the previous fiscal. The total income also declined to Rs 12,957.44 crore during the fiscal from Rs 13,152.49 crore in 2014-l5.

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