Vijaya Bank's NII for Q2FY19 has improved by 15.6% yoy to Rs1,166cr as against Rs1,008cr yoy. The bank has reported Q2FY19 net profit below our estimates at Rs140cr due to higher provisions, against a profit of Rs185cr reported in the corresponding quarter last year. Its GNPA for Q2FY19 stood at 5.86% against 6.19% qoq, a decline of 33bps. NNPA for the quarter came in at 3.81% against 4.1% qoq, indicating a decline of 29bps.
Gross Advances up by 36.98% at Rs1.29lakh cr, whereas Gross Deposits up by 25.47% at Rs1.67lakhs cr
Operating Profit up by 3.39% at Rs759cr
Retail Credit up by 26.67% yoy and Housing loans portfolio up by 31.13% yoy
Provision Coverage Ratio improved to 62.65% from 59.29% yoy
CRAR (Basel III) at 13.56% from 13.31% yoy
CD Ratio improved from 70.52% to 76.98% yoy
NIMs for the quarter came at 2.85%
CASA ratio for the quarter came at 22.92% as against 27.03% yoy
Vijaya Bank is currently trading at Rs. 43.45, up by 2.85 points or 7.02% from its previous closing of Rs. 40.60 on the BSE.
The scrip opened at Rs. 41.40 and has touched a high and low of Rs. 44.40 and Rs. 41 respectively. So far 44,73,430 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
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