Karur Vysya Bank inaugurates new branch in Mumbai

Karur Vysya Bank has inaugurated its 454th branch located at New Common Wealth CHS, 229, Linking Road, Bandra West in Mumbai on May 31, 2012.

Karur Vysya Bank is among 6 old generation private sector banks that have been identified by the Reserve Bank of India (RBI) to implement Speed Clearing at Mumbai. The bank has reported 27.32% increase in its net profit at Rs 146.79 crore for the fourth quarter ended March 31, 2012 against Rs 115.29 crore during the January-March quarter of 2010-11 fiscal. Total income increased to Rs 1,059.27 crore during the quarter under review, up 52.33%, from Rs 695.37 crore in the same period of the previous fiscal. 

The bank has reported total profit during 2011-12 fiscal of Rs 501.72 crore against Rs 415.59 crore during same period last fiscal. Full-year income was Rs 3,620.52 crore against Rs 2,482.02 crore of last year. Gross non-performing assets (NPAs) declined at 1.33% versus 1.45% quarter-on-quarter, but net NPAs increased at 0.33% as against 0.29%.