NE BUSINESS BUREAU
CHENNAI, MAY 21
The Kumbakonam-based tech-savvy private bank has registered a net profit of Rs. 1015.73 cr for the financial year ending March 31, 2024, up by 8 per cent from Rs 937.47 crore registered a year ago.
- The TN-based private bank had registered a net profit of Rs 218.04 crore during the corresponding quarter of last year
- The Bank has crossed Rs one lakh total business milestone by reaching Rs 1,02,138 crore in FY2024 for the first time.
“Improved recovery resulting in lowering provisioning helped to achieve growth in PAT,” the bank said in a statement on Tuesday.
The total income during the quarter under review went up to Rs 1,549.34 crore from Rs 1,423.09 crore registered in the same quarter of last year.
For the financial year ending March 31, 2024, the total income surged to Rs 6,012.22 crore, as against Rs 5,524.69 crore registered a year ago.
A release from the bank said it has crossed Rs one lakh total business milestone by reaching Rs 1,02,138 crore in FY2024 for the first time.
The bank had clocked a total business to the tune of Rs 96,369 crore in the same period of last year.
Total deposits for the year ending March 31, 2024 were at Rs 55,657 crore while advances Rs 46,481 crore.
Gross NPA as of March 31, 2024, was Rs 1,854 crore (3.99 per cent) while net NPA stood at Rs 899 crore (1.97 per cent), the release added.
