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Vijaya Bank

BSE: 532401 | NSE: VIJAYABANK ISIN: INE705A01016
Market Cap: [Rs.Cr.] 3,509.50 Face Value: [Rs.] 10
Industry: Banks - Public Sector

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Management Discussions

Economic Scenario

For global economy, 2014-15 was an year of moderate recovery with diverging trendsacross the regions and economies. Relative to last year, the outlook for advancedeconomies improved during 2014-15, while growth in emerging market and developingeconomies showed deterioration. According to International Monetary Fund (IMF), globaleconomy witnessed a moderate growth of 3.4% in 2014, as compared with the same growth ratein 2013. While advanced economies grew by 1.8% in 2014 compared to 1.4% in 2013, emergingeconomies grew by 4.6% in 2014 compared to 5.0% in 2013. Global inflation remained lowerlevels during the year, in tune with the lower international gold and oil prices. Monetarypolicies across several advanced and emerging economies were in an easing cycle in orderto provide a fillip to economic growth.

During 2014-15, Indian economy exhibited mixed trends and India’s GDP growthshowed moderate growth during the first three quarters. However, GDP growth got a lift asthe Central Statistical Organization (CSO) improved the way it measures economic output.According to the new methodology, GDP growth is expected to be 7.4% in 2014-15 comparedwith 6.9% in 2013-14. Inflation measured by wholesale price and retail price traversed theenvisaged path set by the Reserve Bank of India during the year. Headline inflationmeasured in terms of the Wholesale Price Index trended down to negative zone, slipping toall time low of -2.33% for March 2015. Retail inflation has also moderated significantlyto 5.25% in March 2015 compared to 8.25% in March 2014. India’s foreign trade showedsubdued performance in 2015-16 as a result of the adverse impact of uncertainties in theglobal markets. As per the provisional data released by the Department of Commerce,Government of India, during April-March 2014-15, merchandise exports of India stood at US$310.5 billion and merchandise imports stood at US$ 447.5 billlion. Lower growth inexports (-1.2%) and imports (-0.6%) resulted in modest increase in trade deficit by US$1.2 billion to US$ 137 billion.

Capital formation has showed decelerating trend with a slowdown in investment by boththe private sector and government and the gross fixed capital formation (GFCF) rate atcurrent prices has come down to 28.6% in 2014-15. The financial markets in India respondedto the overall developments witnessed in the global and domestic front. Money supply (M3),which was 13.6% at the beginning of the financial year 2014-15 moderated during the courseof the year to 11.1% by end-March 2015 as a result of slowdown in economic activity andlower credit demand.

Resource mobilization through the primary market exhibited mixed trends during 2014-15with equity and debt issues declining and private placements of corporate bondsincreasing. However, in the secondary market, the benchmark indices, BSE Sensex and Niftyshowed a general upward trend during the financial year. Net capital/financial flows bothin terms of quantum and quality improved considerably during 2014-15. India’s foreignexchange reserves increased to US$ 341.4 billion at end March 2015.

The 10 year Government bond yield has been moving downwards during 2014-15 as acombined effect of positive market sentiments, lower inflation levels, corrections incommodity prices and positive developments on the fiscal commitments by the government.Rupee has exhibited considerable resilience to global events in 2014-15 and the Rupee-USdollar exchange rate has broadly remained stable during the year due to the huge inflow ofFDI and FII in the equity and bond markets. However, on point-to-point basis the rupee hasdepreciated by 4.3% from Rs 59.9 per US dollar at end March 2014 to Rs 62.50 per US dollaron 31 March 2015.

Gross Fiscal Deficit during 2014-15 is estimated at 4.1% of GDP compared to 4.5% during2013-14.

Banking Scenario

Indian banking sector witnessed several challenges during 2014-15 and the growth of theIndian banking sector moderated further during the year. The banking sector has witnesseddeceleration in credit and deposit growth. Aggregate deposits of Scheduled CommercialBanks registered 11.4% y-o-y growth in 2014-15 compared to 15% recorded last year.Non-food credit for Scheduled Commercial Banks (SCBs) registered a y-o-y growth of 9.5% in2014-15 compared to 14% recorded last year. Slowdown in credit growth has been broad-basedbarring agriculture and allied activities.

Liquidity conditions have remained broadly balanced during 2014-15, except transienttight conditions. Slower paced growth in credit in comparison to deposit mobilization andlowering of government cash surplus and the narrowing gap between credit and depositgrowth helped to ease liquidity conditions.

Monetary policy actions during 2014-15 were mainly sought to balance growth inflationdynamics. The Reserve Bank of India (RBI) adopted the Consumer Price Index as the measureof the nominal anchor for policy communication. The RBI and the government agreed upon anew monetary policy framework wherein the RBI adopted a flexible inflation targetingmechanism. Throughout the year financial year 2014-15, RBI maintained a sharp focus on theConsumer Price Inflation and kept policy rates unchanged till January 2015. With theeasing of inflationary conditions, the RBI has signalled easing of monetary policy stanceby reducing policy repo rate under the liquidity adjustment facility (LAF). The RBI alsoreduced the statutory liquidity ratio (SLR) by 50 basis points from 22.0% of net demandand time liabilities (NDTL) to 21.5%. However, the transmission of changes in policy rateto deposit and lending rates of banks also remained muted in 2014-15.

Asset quality of banks showed signs of stress during the year as a combined effect ofsluggish domestic growth during the last two years and continuing uncertainty in theglobal markets leading to lower exports. Gross non-performing advances of scheduledcommercial banks as a percentage of total advances showed an increase during the year.Lower credit growth and higher provisioning on delinquent loans also affected theprofitability of banks.

Outlook

Global growth prospects expected to strengthen and the year 2015 is expected to be thebeginning of a sustainable recovery for the global economy. Global growth in 2015 and 2016will be supported by stronger recovery in the advanced economies (AEs), turn around inEmerging Market Economies (EMEs) and soft energy and commodity prices. Lower internationalprices of crude petroleum are expected to boost global aggregate demand. The InternationalMonetary Fund, in its latest World Economic Outlook, projected global growth at 3.5% for2015 and 3.8% for 2016. However, downside risks to global growth remain elevated, mainlyemanate from the slowdown in emerging market economies, and the uneven effects of currencyand commodity price movements. On the domestic front, macroeconomic vulnerabilities haveabated significantly in the beginning of the financial year 2015-16, on the back ofimprovement in growth outlook, lower inflation levels and signs recovery in the externalsector. India’s GDP growth is expected to improve in 2015-16 in view of theexpansionary monetary policy stance and improving domestic demand conditions. The expectedimprovement in global growth prospects and domestic policy reform initiatives also driveGDP growth. Retail inflation is projected to remain below 6% in 2015-16, within the targetset for January 2016, which will provide headroom for the RBI support growth by reducingpolicy rates. The broad-based decline in inflation, favourable financial marketconditions, and the government’s initiatives to improve the business climateincluding the ‘Make in India’ campaign to attract investment is expected to givefurther fillip to domestic growth. Indian economy in 2015-16 is expected to emerge as oneof the bright spot in the global landscape, and becoming one of the fastest-growing majoremerging market economies in the world. The major challenges during 2015-16 emanate fromfactors like inadequate support from the global economy, possible spill-overs of belownormal agricultural growth, weaknesses in corporate balance sheets, volatile rupee andattracting sufficient capital inflows to the economy. Indian Banking sector is expected toperform well in 2015-16 in view of the positive domestic outlook and favourable policyenvironment. The steady acceleration in services sector, expected turnaround in industrialgrowth, clearance of stalled projects, plans announced by the Government in the UnionBudget to step up infrastructure investment and improvements in overall business climatewould result in higher credit growth during 2015-16. The asset quality of banks is alsoexpected to improve with the positive developments in the macroeconomic conditions. IndianBanking sector is expected to perform well in 2015-16 in view of the positive domesticoutlook and favourable policy environment.

PERFORMANCE HIGHLIGHTS OF THE BANK DURING THE YEAR 2014-15

Capital, Reserves & Networth

The Authorized Capital of the Bank at present is Rs 3000 crore divided into 300crore shares of Rs 10 each. At present, Government of India holds 74.06% Equity ShareCapital of the Bank. The total paid up (equity share) capital of the bank is Rs 859.12crore. During the Year 2014-15, Bank added Rs 271.84 crore in to Reserves & surplusand the total Reserves and surplus is Rs 5300.64 crore. The Networth of the bank increasedfrom Rs 5638.93 crore to Rs 5923.24 crore this year.

Working Results

Net profit for the year 2014-15 is Rs 439 crore as compared to Rs 416 crore for2013-14. On the deposit front, average cost of deposits increased from 7.98% in 2013-14 to8.10% in 2014-15. Yield on advances for 2014-15 is 11.34% when compared to that ofprevious year 11.26%. The trends in financial results of the Bank are highlighted in thetables below: (Rs in crore)

Sl. No. Item 2013-14 2014-15 Annual increase (%)
1. Interest Income 10707 12273 14.64
2. Interest Expenditure 8623 9981 15.74
3. Net Interest Income (1-2) 2084 2292 10.03
4. Non-interest income 710 879 23.80
i. Profit on sale of investments 190 299 57.37
ii. Other non-interest income 520 580 11.54
5. Net Total Income (3+4) 2794 3171 13.49
6. Operating expense 1690 1912 13.14
i. Staff Expenses 1040 1166 12.12
ii. Other operating expenses 650 746 14.77
7. Operating profit 1104 1259 14.07
8. Operating profit (excl. Treasury profit) 914 960 5.03
9. Provisions and 688 820 19.16
Contingencies
10. Net profit 416 439 5.65

Important Profitability Ratios

Sl. No. Item 2013-14 2014-15
% %
1 Yield on funds 9.08 9.15
2 Cost of funds 7.31 7.44
3 Interest spread (1-2) 1.77 1.71
4 Yield on advances 11.26 11.34
5 Cost of deposits 7.98 8.10
6 Yield on investments
- excluding Trading Profit 7.22 7.50
- including Trading Profit 7.75 8.17
7 Other operating expenses to 0.55 0.56
Average working funds
8 Cost-Income Ratio 60.49 60.30
9 Establishment cost to average working funds 0.88 0.87

Dividend

Taking into consideration the overall profitability, the Board of Directors hasrecommended a final dividend of Rs 1.50 per share (15%), for the year 2014-15. The totalamount of equity dividend including dividend tax for 2014-15 is Rs 155.10 crore.

Deposit Mobilization

During the year, CASA deposit of the bank grew to Rs 25721 crore, a growth of 12.52%compared to previous financial year which was Rs 22860 crore. Out of which the Saving Bankdeposit grew by 12% and Current Account deposit grew by 14%. The CASA % to total depositalso improved to 20.35% from 18.39% for the last year. The total deposit of the bankincreased to Rs 126343 crore compared to last financial year which was Rs 124296 crore.The Certificate of Deposit stood at Rs 12258 crore during the year.

Employees Productivity

Business per employee as at 31st March 2015 is Rs 16.56 crore. Profit peremployee stood at Rs 0.03 crore as at March 2015.

Branch Network

With the opening of 109 branches during the year 2014-15, the network of branchesreached the level of 1618 from 1512 during the previous fiscal and merged 3 Corporatebanking Branches . There are 49 Extension Counters and 2 Satellite Offices at the end ofthe year 2014-15. The bank has also opened one new Regional Office at Meerut during theyear 2014-15 with that total number of Regional Offices reached to 27.

Retail Credit

Retail Lending is viewed as aviable business proposition and continue to be the thrustarea for credit expansion in view of its inherent advantages such as risk spread, betteryield and large volume credit buildup.

The Bank has disbursed Rs 9065 crore under Retail credit during the year & theamount outstanding as at March 2015 stood at Rs 18735 crore, recording an Y-o-Y of 19.96%. The Retail Credit Portfolio accounted for at 21.36 % of the Bank’s Gross Credit.

The Balance outstanding under Housing loan, Education loan, Vehicle loan & JewelLoan schemes, as on 31st March 2015, are Rs 6526 crore, Rs 903 crore, Rs 2607 croreand Rs 3820 crore respectively.

During the year, Bank launched special campaigns like ‘Grand FestivalCarnival’ offering attractive benefits to customers like waiver of charges etc wasintroduced. Bank is continuously striving to make the Retail lending products morecompetitive in the market by revamping the existing products. Bank has also launchedVijaya Top Up Loan exclusively for housing loan customers.

Bank has also revamped major retail products by following the present market conditionsand going on par with the competitors which will help the field staff in canvassing morebusiness. Bank has started Online tracking of Retail Loan applications which helps formonitoring the pending applications by the applicant and the branch as well as RegionalOffice / Head Office.

Credit Expansion

The gross Credit of the Bank registered a growth of 6.39 % from Rs 82425 crore on31.03.2014 to Rs 87692 crore on 31.03.2015. Considering the economic down trend the Bankhad been selective in the approval of big ticket credit proposals.

The Bank has put in place a perfect due diligence mechanism for screening of creditproposals and implementing the guidelines received from Department of Financial Servicesand Reserve Bank of India. In terms of extant guidelines from Ministry of Finance, theBank is following committee approach for credit approvals at Regional Office and HeadOffice levels. The committees meet as frequently as possible to reduce turnaround time forcredit decision. The Bank has continued with its strategy to recruit professionals fromCA/ICWA/CS/MBA streams for ensuring good standard credit processing.

Bank’s credit department is accredited with ISO/ IEC 27001:2005 certification forinformation security management system by British Standard Institute (BSI).

In tune with market trends, Bank has come up with various new loans products and alsofine tuned existing ones to suit the needs of customers.

Large & Mid Corporate

The Large Corporate segment constituted 48% share in total domestic advances as on31.03.2015. In order to have more focused attention and to reduce turnaround time, fivespecialised corporate banking branches are functioning at different geographicallocations. Apart from Corporate Banking Branches, three Industrial finance branches arecatering to the needs of the corporate customers including financing for infra/non infraprojects. In addition the Bank has SME branches spread across the country catering to theneeds of mid-corporate and SME clients by offering services including cash management,forex, treasury products, trade finance, deposits, retail banking etc.

Bank’s Corporate/SME/IFB Banking Division offers an array of loan products andservices such as Term Loans, Demand Loans, Corporate Loan, Short-Term Loans, WorkingCapital Facilities (FB+NFB), Trade Finance Products, Bridge Loans, Syndicated Loans,Infrastructure Loans, Foreign Currency Loans, Loan Against Future Rent Receivables andmany more to its corporate clients depending upon their needs. Over the years, Bank hasmade significant progress in establishing healthy business relations with severalmultinationals, domestic business houses and prime public sector companies.

Infrastructure Finance

During the year, the Bank has sanctioned fund based limits of Rs 7645 crore and NonFund Based limits of Rs 230.93 crore under infrastructure category power,telecommunications, ports, roads etc. Our exposure to infrastructure sector is 28.84 % ofgross advances and is well within the prescribed sectoral exposure cap.

Project Finance and Syndication Group

Project Finance and Syndication Cell Is functioning at its Head Office, Bengaluru. Thefunctions of the Cell include preparation of Project Information Memorandum, arranging forTechno Economic Viability Study of the projects and Syndication for credit requirements ofthe entrepreneurs. This Syndication Cell is well equipped with good manpower includingsenior executives and qualified professionals.

TREASURY AND INTERNATIONAL OPERATIONS:

Investment and Fund Management

Total Investment portfolio of the Bank increased from

Rs 42,833.78 crore (SLR Investment: Rs 33,319.60 crore & Non-SLR Investment: Rs9,514.18 crore) as on March 31, 2014 to Rs 44,698.34 crore (SLR Investment: Rs 34,933.00crore & Non-SLR Investment: Rs 9,765.34 crore) as on March 31, 2015.

The 10 year benchmark yield closed at 7.74 % as on March 31, 2015 against 8.81% as onMarch 31, 2014. The average yield on investment (including profit on sale of investmentsand RIDF) during the year worked out to 8.17 % as against 7.75% in FY 2013-14.

The Bank also complied with CRR and SLR requirements as stipulated by RBI consistentlyduring the year.

International Banking

Bank’s export credit as at 31.03.2015 registered a Y-o-Y growth of 23.79% andstood at Rs 1571.39 crore. Out of the above, quantum of export credit extended by the Bankin foreign currency was USD 42.13 million. As at March 2015, foreign exchange businessturnover of the Bank stood at Rs 21,172.17 crore, recording an annualized growth of 0.51 %over the previous financial year. Bank has successfully implemented Electronic DataProcessing and Monitoring System (EDPMS), e-BIZ projects of RBI.

Bank’s total NRI deposits as at 31.03.2015 stood at Rs 2998.96 crore, as againstRs 2398.57 crore as at the end of previous financial year, thereby recording a growth of25.03 %. During the financial year, the Bank has extended ‘Speed/FlashRemittance’ facility to UAE Exchange Centre LLC, Al Ansari Exchange UAE, Wall StreetExchange, UAE and Al Bader Exchange, UAE to enable the NRIs from Gulf Countries toelectronically remit funds to their account with our branches anywhere in India. Inaddition to the above, the bank also has Rupee Drawing Arrangement (RDA) with Oman UnitedCompany LLC, Oman to facilitate rupee remittances to the accounts in India. The Bank hasset up a NRI Customer Cell at Head Office, Bangalore exclusively for responding to thequeries of our NRI customers. The Bank has also launched Vijaya NRI Digest, a fortnightlye-newsletter covering area of interest to NRIs.

Export & import credit

The Bank is active in meeting the importer and exporter client’s financialrequirements both in domestic and in foreign currency. Bank’s 47 branches across thecountry are designated to handle foreign exchange business.

ASSET QUALITY

The Bank continued its focus on maintaining quality assets along with thrust onpreventing fresh slippages. It initiated and continued to emphasize various measures inthis direction, including the following:

Accounts showing signs of stress / likely default in dues are identified and treated asSpecial Mention accounts and are closely monitored. Wherever feasible, such assets arerestructured on merits, with additional need-based credit limits considered in deservingcases. Viability study is to be conducted in respect of SME accounts slipped to NPA and tobe brought under nursing wherever feasible within a time frame.

Special Recovery Cells are formed at RO’s for systematic follow up of NPAaccounts. Centres wherever DRT’s are functioning, nodal Officers are designated, whokeeps regular liaison with the presiding officer and the bank’s advocate for speedydisposal of the cases.

In case of willful defaulters, stringent recovery measures, including legal actionslike Securitization and submitting the names to RBI are done.

Services of Lok Adalats are resorted to for speedy recoveries of impaired assets.

All 10 Lakhs and above NPA accounts are reviewed by the Top management through videoconference with the Regional Heads and guiding them for the speedy recovery.

To facilitate speedy recovery, ‘Vijaya Adalats’ under the Recovery Policy ofthe Bank are regularly conducted at various centres by involving a cluster of branches andaccounts are settled on the spot. During the year, Bank could settle Rs 109.88 crore in5628 accounts by way of settlements till 31.03.2015.

A special One Time Settlement Scheme for chronic tractor loan NPAs was reintroduced on01.01.2015 and the same was in force upto 31.03.2015.

NPA recovery campaign-2015 has been introduced for a period from 01.01.2015 to31.03.2015 in order to reduce the NPA level.

To speed up the recovery in small value NPAs, 16 recovery officers have been posted atidentified centers with large number of NPA accounts in 8 regions (6 in Karnataka and 2 inAndhra Pradesh). Recovery officers have made recovery of Rs 38.27 crore and Upgradation ofRs 53.78 crore upto the month of March 2015.

In consultation with the Branches, we have identified 769 Doable NPA accounts withbalance of Rs 10 Lakhs and above totaling Rs 807.37 crore which can be upgraded by March2015.These accounts are followed up by our Department with the Branches concerned onContinuous Basis. Upto the month of March 2015, Rs 608.39 crore has beenrecovered/upgraded.

The gross Non-Performing Assets of the Bank as on March 2015 stood at 2.78% of totaladvances, while net NPA ratio was 1.92% of net advances. During the year 2014-15, Bankcould effect total cash recovery of Rs 931.42 (including interest) and upgraded NPAsamounting to Rs 931.96 crore. Further, the Bank also made provision of Rs 698.40 crore forthe unexpected defaults, apart from having a floating provision of Rs 71.35 crore as onMarch 31, 2015. The Provision Coverage Ratio (including PWO) as at March 2015 worked outto 64.01%.

RISK MANAGEMENT

Credit Risk:

Bank has put in place a Comprehensive lending Policy as well as Credit Risk ManagementPolicy which encompass various aspects such as risk appetite, risk based pricing, riskdiversification / mitigation strategy, prudential limit, substantial exposure ceiling,group exposure ceiling, Rating wise exposure ceiling, preferred sector growth strategies,credit approval process, documentation and security standards, security valuation etcthese policies are revised periodically based on corporate goal and business plans of theBank. As per RBI Guidelines on Stress Testing, the stress tests for Credit Risk have beencarried out on a half year basis which covers scenarios such as credit portfolio to stresslike increase in NPAs, slippage of restructured standard accounts, downgrade inCounter-party rating, depletion in collateral, etc. Further, Bank has put in place acomprehensive risk rating/ scoring system which serves as a single point indicator ofdiverse risk factors on the counterparty and to facilitate execution of proper andconsistent credit decisions. Bank has evolved separate risk scoring models for Housing/other Retail lending sectors and endeavors higher coverage in risk rating exercise.Rating migration analysis in respect of credit exposures of Rs 1.00 crore and above isconducted on half yearly basis. Since September 2009, Bank has been conducting risk ratingof all retail and non retail loans by using CRISIL RAM software which is Basel IIcompliant. The software facilitates Bank to maintain the credit quality and also tosupport efforts of the Bank in translation towards advanced approach of Basel II byensuring that prior to sanction of loans, all type of exposures is covered under riskrating process.

Asset Liability Management (ALM) and Market Risk:

ALM and Market Risk of the Bank is managed by the Asset Liability Management Committee(ALCO) and Market Risk Management Committee (MRMC) respectively. Appropriate tolerancelimits have been stipulated for mismatches in different time buckets, both for managingliquidity and interest rate risks. These are being monitored at fortnightly intervals andalso appraised to the Board of Directors.

The market risk exposure is measured by tools like VaR (Value at Risk), AGL (AggregateGap Limit), and Duration gap analysis. Exposure limits for all countries have been put inplace to manage and monitor the country risk. Mid-office reports on treasury operationsare placed before the General Manager, Risk Management Dept., on a daily basis and beforeMRMC on a monthly basis, covering information about exceptions / reviews and compliance.

Interest Rate Risk on entire portfolio is identified and measured through Earnings atRisk (EaR). Sensitivity analysis is also conducted and reviewed by the top management.Contingency Funding Plans, Prudential Ratios / Limits have been set and actual position ismonitored as part of Liquidity Risk Management. Stress Test on Interest Rate Risk,Liquidity Risk, Forex risk, etc on different scenarios are carried out on quarterly basisand appraised to Asset Liability Committee (ALCO). To monitor short term liquidity, theBank is preparing the ALM statement of Structural Liquidity on daily basis.

The Duration Gap Analysis is implemented for assessing the possible impact on marketvalue of equity (net worth) using 200 basis points shock on interest rate curve.

The bank has applied to RBI, seeking their approval to implement Internal ModelApproach (Advanced Approach) for Market Risk.

The Funds Transfer Pricing, a new technology on transfer pricing mechanism, has beenimplemented for assessment of branch profitability in a scientific manner.

Operational Risk:

Bank has put in place a well defined Operational Risk Management Framework toeffectively identify, measure, manage and address Operational risks. The Bank has also putin place a framework required for implementation of The Standardized Approach (TSA). Thegovernance of Operational Risk Management is monitored by Operational Risk ManagementCommittee (ORMC), which reviews the operational risk loss event data, new products,processes and systems adopted by the Bank and provides suggestions for takingcorrective/preventive measures to strengthen the internal system and procedures. In orderto mitigate Operational risks, several thematic studies have been conducted for fraudscommitted in loan and deposit portfolios, so as to identify systemic deficiencies fromRisk Management angle. Further, in order to move towards advanced approaches, bank has putin place frameworks for Risk Control Self Assessment (RCSA) and Key Risk Indicators(KRIs). Bank has been taking steps to strengthen the RCSA and KRI by reviewing the sameand improving the coverage area for management of Operational risk. The Bank has beenpermitted by RBI to assess Operational risk capital under The Standardized Approach (TSA)– (Parallel run w.e.f March 2015).

Basel-II & Basel III Compliance:

As the Bank requires corporate clients’ risk rating status awarded by ratingagencies approved by RBI, the Bank has entered into MOU with all the six rating agenciesviz CRISIL, ICRA, CARE, Brickwork, SMERA and Fitch so that borrowers can avail the ratingservices at a competitive fee and bank also derives benefits on lower capital chargedepending on the rating status. The Bank has formulated its ICAAP policy which is revisedfrom time to time and the ICAAP Document is submitted to RBI on half yearly basis.

In compliance to the RBI guidelines and adopting Standardised Approach for Credit Risk,Standardised Duration Gap for Market Risk and Basic Indicator Approach for OperationalRisk, Bank has complied with Basel II norms and the overall Capital Adequacy Ratio as at31st March ’2015 under Basel II works out to 11.70%, which is above the minimumstipulated norm of 9%. Bank has also complied with Basel III norms and the overall CapitalAdequacy Ratio as at 31st March 

Futures & Options Quote
Future Data Not present
Key Information

Key Executives:

V Kannan , Chairman & Managing Director

Suma Varma , Nominee (RBI)

Bharati Rao , Director(Shareholders)

P Vaidyanathan , Director(Shareholders)


Company Head Office / Quarters:

41/2,
M G Road,
Bangalore,
Karnataka-560001
Phone : Karnataka-91-80-25584066(20 lines)/25594737 / Karnataka-
Fax : Karnataka-91-80-25598040/25594737 / Karnataka-
E-mail : vijayabank@vsnl.com/sdigc@vijayabank.co.in
Web : http://www.vijayabank.com

Registrars:


 
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