Karur Vysya Bank's Strong Profits Amid Expanding Growth

Karur Vysya Bank reported a significant 20.39% increase in net profit for the October-December 2024 quarter, reaching Rs 496 crore. Over nine months, net profit surged by 24.28% to Rs 1,428 crore. The bank's growth was supported by strong performance in retail, agriculture, and MSME sectors, alongside improved asset quality.

Karur Vysya Bank has posted a robust 20.39% rise in net profit for the October-December 2024 quarter, reaching Rs 496 crore, compared to Rs 412 crore in the same period last year. The bank's focus on growth, profitability, and asset quality drove this performance.

The Tamil Nadu-based bank's net profit for the nine months ending December 31, 2024, saw a 24.28% hike to Rs 1,428 crore. The total income during this period reached Rs 8,482.33 crore, a substantial increase from Rs 7,049.21 crore a year earlier.

Under the leadership of CEO Ramesh Babu B., the bank achieved inclusive growth by excelling in its retail, agriculture, and MSME segments. The Gross Non-Performing Assets improved to 0.83%. As of December 31, 2024, the bank's network includes 866 branches, mostly in semi-urban and rural areas, and 2,197 ATMs.

(With inputs from agencies.)