VIJAYA BANK 3rd QUARTER RESULTS

VIJAYA BANK'S THIRD QUARTER RESULTS.

Vijaya Bank announced its third quarter results ending 31.12.2009. Mr.Albert Tauro,Chairman &Managing Director of the bank announced the results.
Total Business of the bank: Rs.98272 crores.
Total deposits of the bank : Rs.58928 crores.
Gross advances of the bank:Rs.39344 crores.
Capital Adequacy : 13.34% (Basel-II)
Net profit for 3rd quarter : Rs.124.57 crores for 9 months: Rs.376.37 crores.
NPA (Gross) : 2.53% against 1.97% as 31.03.2009
NPA (NET) :1.30% against 0.82% as on 31.03.2009
NPA Coverage :65% against mandated 70%.
Public share Holding : 46.13%
Return on assets(annualised) : 0.77% against 0.59% as on 31.03.2009
Cost of deposits have come down from 7.49% to 6.41%.
Net work of branches:1149 branches,ATM's:376,under 100%CBS set up.
GUIDANCE FOR MARCH 2010.
* 18% growth in aggregate Business.
* Net Interest Income growth of 30% or more.
* Improved margins-NIM of 3%.
* Launching of On Line Trading portal and phone banking services.
* Net NPA to be contained within 1%.

Adressing the Media.Mr.Albert Tauro,CMD of the bank said," our numbers need to be seen in the light of subdued earnings from treasury during the third quarter in the face of hardened benchmark yields. Significantly our core earnings have made good the moderated treasury earnings as evident from a strong growth in our net Interest income".