Karur Vysya Bank shares Q2 business update; check details

2 min read | Updated on October 01, 2024, 13:54 IST

SUMMARY

Karur Vysya Bank said its total business stood at ₹1,76,135 crore for the quarter under review, up 14.73% year-on-year (YoY) against ₹1,53,516 crore logged in the year-ago period. Total deposits increased by 15.37% to ₹95,839 crore. The bank's advances rose by 13.98% to ₹80,296 crore, while CASA increased by 5.37% to ₹28,232 crore.

Shares of Karur Vysya Bank have rallied 60% in the past 12 months

Karur Vysya Bank share price, Karur Vysya Bank Q2 update: Karur Vysya Bank, one of the leading private sector banks in India, on Tuesday, October 1, shared its provisional business update for the quarter ended September 30, 2024 (Q2 FY25).

The lender said its total business stood at ₹1,76,135 crore for the quarter under review, up 14.73% year-on-year (YoY) against ₹1,53,516 crore logged in the year-ago period. Total deposits increased by 15.37% to ₹95,839 crore. The bank's advances rose by 13.98% to ₹80,296 crore, while CASA increased by 5.37% to ₹28,232 crore.

CASA stands for current account and savings account. It is a type of bank account that combines the features of both. CASA accounts are offered by several banks and financial companies.

Shares of the bank after the Q2 business update were trading flat at ₹214.90, up 0.12%.

Karur Vysya Bank Q1 FY25 Results

Karur Vysya Bank reported a net profit of ₹458.65 crore for the April-June 2024 quarter, up by 27.86%. The Tamil Nadu-based bank had registered a net profit of ₹358.63 crore during the corresponding quarter of last year.

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For the year ended March 31, 2024, the net profit of the bank stood at ₹2,100.19 crore.

Total income from operations during the quarter under review grew to ₹2,672.88 crore as against ₹2,216.07 crore registered in the same period of last year.

Total income for the year ending March 31, 2024 was ₹9,862.63 crore.

"Our total business crossed Rs 1,70,059 crore. The inclusive growth from all the business segments has helped us to reach a net profit of Rs 459 crore for the quarter," said Managing Director and CEO Ramesh Babu B.

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Total business as of June 30, 2024 stood at ₹1,70,059 crore, registering a year-on-year growth of 15.16% from ₹1,47,671 crore as of June 30, 2023.

Shares of the bank have rallied 60% in the past 12 months.

About The Author

Swati Verma is a business journalist with over 10 years of experience. She closely tracks stock markets and covers breaking news related to markets, business and personal finance.

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Karur Vysya Bank shares Q2 business update; check details

Karur Vysya Bank Q1 FY25 Results

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