Vijaya Bank scores big, whopping 42% surge in profits

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Vijaya Bank scores big, whopping 42% surge in profits

Spreading a cheer today, state-run lender Vijaya Bank reported a surge in its bottom-line numbers for the second quarter of FY12. Vijaya Bank witnessed an improvement in the bank's asset quality.

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Excerpts from Reporter's Diary on CNBC-TV18 Watch the full show » ALSO READ News and Notices about Vijaya Bank See interviews with Vijaya Bank Management See what other Experts & Brokerages are saying about Vijaya Bank See previous Results of Vijaya Bank Vijaya Bank BSE | NSE 30/05/12 Are Mutual Funds betting on Vijaya Bank?

Spreading a cheer today, state-run lender Vijaya Bank reported a surge in its bottom-line numbers for the second quarter of FY12. Vijaya Bank witnessed an improvement in the bank's asset quality.

The profits of the bank jumped a whopping 42%, while the bottom-line came in at Rs 204 crore due to the back of reduction in staff expenses, as compared to last year.

The bank announced net interest income at Rs 512 crore as against the Rs 487 crore last year. The NIMs too showed a significant improvement in margins with net interest margins coming in at 2.72%, on a quarter on quarter basis.