Karur Vysya Bank standalone net profit rises 24 70% in the March 2021 quarter business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Private sector Karur Vysya Bank on Friday posted nearly 23 per cent rise in its net profit at Rs 104 crore in the last quarter of the fiscal ended March 2021, on account of good growth in retail loan portfolio as well as gold loan. Provisions for bad loans and contingencies too fell, which helped in profit numbers. The bank had reported a net profit of Rs 84 crore during the same period of the preceding fiscal year FY20. Total income during Q4 FY21, however, fell to Rs 1,565.78 crore from Rs 1,803.15 crore in the year-ago same quarter. For the entire fiscal year 2020-21, its net profit jumped by about 53 per cent to Rs 359 crore from Rs 235 crore in 2019-20, Karur Vysya Bank said in a regulatory filing.
Karur Vysya Bank on Wednesday said it has donated Rs 1 crore to the Tamil Nadu State Disaster Management Authority from its CSR funds to fight the current pandemic. Managing Director and CEO B Ramesh Babu handed over a demand draft to minister of electricity, prohibition and excise, Tamil Nadu government, Senthil Balaji, it said in a release. The bank has also donated ten ambulances 2 for use in the plains and 8 for use in hilly regions to the Government of Tamil Nadu at a cost of Rs 1.77 crore. The bank has donated Rs 3.29 crore so far during the second wave of COVID-19 under Corporate Social Responsibility, it said.
KVB donates ₹ 1 crore for COVID care thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.