Vijaya Bank's net profit improved by 41.5% to Rs 203.53 crore for September quarter (Q2FY12) against Rs 144.30 crore for the comparative previous quarter. Net interest income (NII) for Q2FY12 stood at Rs 512 crore agianst Rs 487 crore, on a year-on-year basis.
Public sector lender reported a robust performance on cash recovery and up-gradation front in the September quarter on the back of completion of system driven identification of non performing asset (NPA). HS Upendra Kamath, chairman, Vijaya Bank speaking to CNBC-TV18 about the financial performance of the bank said that it has been able to do relatively well in Q1 and Q2 and is hopeful of containing non performing liability (NPL) at manageable levels ahead. Its net interest margin for the quarter stood at 2.72% versus 2.32% quarter ago (Q-o-Q). "In our annual guidance mentioned that we may be in a position to sustain NIMs at around 2.85% to around 2.95%, vis-Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
