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Quarter-3 of the current financial was eventful for Vijaya Bank as it
scaled new heights in its top line growth, improved its financials, opened its landmark 1000
th branch, inaugurated by the Hon’ble Union Finance Minister and launched an innovative
deposit scheme - “
V-
GenU
TH ” aimed at generation next.
Comparison of quarter ended 31.12.2007 with quarter ended
31.12.2006.
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Net Profit for the quarter ended 31.12.2007 is
Rs.126.88 crore as againstRs.92.73 crore for the quarter ended 31.12.2006,
recording increase of 36.84%.
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Operating Profit for the quarter ended 31.12.2007 is
Rs.158.63 crore as against Rs.152.26 crore.
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Interest Income from advances increased from Rs.459.07 crore to
Rs.693.62 crore, recording growth of
51.09%.
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EPS (annualised)for the quarter ended 31.12.2007 is
Rs.11.72 as against Rs.8.56.
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Return on Assets (annualised)for the quarter ended 31.12.2007 is
1.03%
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Return on Net worth for the quarter ended 31.12.2007 is
24.13% as against 20.60%.
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YEAR ON YEAR COMPARISON [December 2006 to December 2007].
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[Amount
in Crore]
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Particulars
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31.12.2007
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31.12.2006
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Growth (%)
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Net Profit
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343.48
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267.69
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28.32
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Operating Profit
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474.45
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502.77
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(5.63)
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Total Business
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71,607
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53,975
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32.67
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Deposits
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43,527
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33,245
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30.92
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Advances
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28,080
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20,730
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35.46
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Net NPA ratio
[Percentage]
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0.54
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0.49
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Gross NPA ratio[Percentage]
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1.96
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2.51
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Earning Per Share [Annualised] [Rs]
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10.56
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8.23
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Average Business Per Employee
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5.98
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4.35
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Return on Net worth [Percentage]
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22.90
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20.97
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BUSINESS:
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Total Business increased by
32.67% from Rs.53975 crore to
Rs.71607
crore.
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Total Deposits increased by
30.92% from Rs.33245 crore to
Rs.43527
crore.
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Gross Advances increased by
35.46% from Rs.20730 crore
to 28080 crore.
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PROFITABILITY
:
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Net Profit for the period ended 31.12.2007 is
Rs.343.48 crore as against Rs.267.69 crore for the period ended 31.12.2006,
recording growth of
28.32%.
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Operating Profit for the period ended 31.12.2007 is
Rs.474.45 crore as against Rs.502.77 crore.
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Interest Income from advances increased from Rs.1250.34 crore to
Rs.1962.15 crore, recording growth of
56.93%.
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Asset Quality
:
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Gross NPA ratio is
1.96% as against 2.29% as on 31.03.2007.
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Net NPA ratio is
0.54% as against 0.59% as on 31.03.2007.
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NPA Provision Coverage Ratio is
72.82%.
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Total Cash Recovery for the period ended 31.12.2007is
Rs.202.98 crore as against Rs.179.62 crore for the period ended 31.12.2006.
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KEY RATIOS
:
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Return on Average Assets (annualised) is
0.99% for the period ended 31.12.2007.
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Return on Net Worth is
22.90% as against 20.97% for the period ended 31.12.2006.
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Capital Adequacy Ratio stood at
12.21% and is above the RBI stipulated norm of 9%.
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Average business per employee gone up from Rs.4.35 crore as on 31.12.2006 to Rs.
5.98 crore as on 31.12.2007.
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Earning per Share (annualised) gone up from Rs.8.23 as on 31.12.2006 to
Rs.10.56 as on 31.12.2007.
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Book Value per share gone up from Rs.42.02as on 31.12.2006 to
Rs.49.96 as on 31.12.2007.
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Net Interest Margin [NIM] stood at 2.64%.
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Low Cost Deposit ratio stood at 31%.
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COMMITMENT TO SOCIETY
:
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Priority Sector Credit is
Rs.10694 crore as against Rs.8627 crore as on 31.12.2006, recording a growth of
23.96%.
Priority Sector Credit as percentage to Adjusted Net Bank Credit stood at
43.40%, above the standard norm of 40%.
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Agriculture Credit increased fromRs.2640 crore to
Rs.3259 crore, recording growth of
23.45%.
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Advances to Micro, Small & Medium Enterprises (MSME) increased from Rs.1152
crore to
Rs.2861 crore, recording impressive growth of
148.35%. MSME credit constitutes 11.61% of Adjusted Net Bank
Credit.
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Advances to Weaker Sections increased from Rs.1256 crore
to Rs.1410 crore, recording growth of 12.26%.
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Education Loan portfolio increased from Rs.196.64 crore to
Rs.292.96 crore, recording growth of 48.98%.
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new business initiatives:
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Corporate goal for 2007-08 is “Improving Profitability through Core Business”.
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To reach total business of Rs.76,000 crore comprising total deposits
of Rs.45,000 crore and advances of Rs.31,000 crore.
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During the quarter ended December, 2007, the Bank introduced an innovative Savings Bank
Scheme- “
V-
GenU
TH”- targeted at the young masses, right from birth to the completion of their
studentship. Aimed at forging long term relationship with the future generation, the scheme
was unveiled by the Hon’ble Union Minister of Finance during the inauguration of the Bank’s 1000
th branch at Bangalore. The client friendly scheme, apart from catering to the
financial requirements of students, also features facilities like concessional interest rates and
remittances, credit card facilities and other normal banking facilities.
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To reach 1050 branches network by March 2008.
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Bank has become the member of National Financial Switch Group,
thereby enabling the customers to access over 17000 ATMs of 28 participating
Banks.
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To increase networked ATMs from 203 to 375 by March,
2008.
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To increase number of CBS branches from current level of 619 to 675
by 31.03.2008 and to achieve business coverage of more than 90%.
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REAL TIME GROSS SETTLEMENT (RTGS) facility and NATIONAL ELECTRONIC
FUNDS TRANSFER (NEFT) facility has been provided through all CBS branches.
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To achieve growth of 76% for the year under Education Loan portfolio
from Rs.209 crore to Rs.367 crore.
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To boost credit off take to specific sectors like Agriculture/ SSI/
MSME/ Women/ Weaker Sections etc.
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Human Resource Management System is under
implementation.
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To focus on core retail deposits and to improve deposits under
Current and Savings Accounts (CASA).
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To contain asset impairment in NPAs and achieve accelerated
performance under recovery of NPAs through aggressive recovery campaigns such as, Vijaya Adalats
and Settlement Camps with greater HO participation.
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To increase the client base- to augment CASA accounts by 1
million.
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To focus on improving fee based income and aggressively promote
fee-based non-fund based business like LCs, Bank Guarantees etc.
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To ensure compliance with BASEL II capital adequacy requirements by
September 2008, ahead of the prescribed schedule of March 2009.
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