KVB net profit at Rs 109 crore

Karur Vysya Bank has announced registering marginal growth in net profit at Rs 109 crore for the first quarter of FY22 as against Rs 106 crore in the corresponding quarter of the previous financial year.

The total income of the bank fell to Rs 1,596 crore during Q1FY22 from Rs 1,693 crore in Q1FY21.

However, the bank’s net interest income rose by 14 percent to Rs 638 crore from Rs 562 crore.

Its net interest margin stood at 3.55 percent, KVB said.

The cost of deposits has improved by 84 basis points (bps) to 4.53 per cent in the quarter as compared to 5.37 per cent in the same period previous year, KVB said in a release.

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