Karnataka Vikas Grameena Bank (KVG Bank), a Dharwad-based regional rural bank, profits are higher by 52.45 per cent to Rs 194.58 crore for the financial year 2012-13 compared with Rs 127.64 crore in the same period last year.
The total business for the financial year is also up 21.60 per cent to Rs 13,015 crore compared with Rs 10,703 crore last year.
C. Sambasiva Reddy, Chairman, told reporters that Gross NPA has reduced by 0.26 per cent to Rs 88.93 crore and gross NPA percentage to total advances is 1.58 per cent against 1.97 per cent as on March 31, 2013. Provision coverage ratio stood at 100 per cent.
The net interest margin stood at 3.52 per cent and return on assets increased to 2.22 per cent from 1.73 per cent (Year-on-Year). Net profit per employee stood at Rs 7.33 lakh against the Government’s norm of Rs 6.40 lakh. Deposits have grown by 19.49 per cent to Rs 7,392.85 crore during the year compared with Rs 6,186.50 crore last year. Bank’s advances have gone up from Rs 4,516.89 crore to Rs 5,622.14 crore registering a growth of 24.46 per cent.
CASA deposits of the bank increased by Rs 449.91 crore forming 49.97 per cent of total deposits. Credit Deposit Ratio stood at 76.04 per cent as on March 31, 2013, compared with 73.01 per cent last FY.