Buy Karur Vysya Bank; target of Rs 155: Emkay Global Financial
Emkay Global Financial is bullish on Karur Vysya Bank has recommended buy rating on the stock with a target price of Rs 155 in its research report dated January 23, 2023.25-01-2023
25-01-2023
KARUR VYSYA BANK LTD. - 590003 - Compliance Under Regulation 47 of SEBI (Listing Obligations And Disclosure Requirements) Regulation, 2015 (''Listing Regulations'')
Karur Vysya Bank Ltd has submitted to BSE a copy of Compliance Under Regulation 47 of SEBI (Listing Obligations And Disclosure Requirements) Regulation, 2015 (''Listing Regulations'')25-01-2023
Why this old private sector bank can re-rate further
With a granular deposit base and robust growth in advances, Karur Vysya Bank's earnings trajectory is set to gain further traction25-01-2023
Q3FY23 Quarterly Result Announced for Karur Vysya Bank Ltd.
Karur Vysya Bank announced Q3FY23 results: Q3FY23 vs Q3FY22: Net profit for Q3FY23 grew by 56.2% and stood at Rs 289 crore from Rs 185 crore during Q3FY22. Operating profit for Q3FY23 was Rs 689 crore as compared to Rs 401 crore for Q3FY22. Net interest income for Q3FY23 improved by 29.4% (Rs 203 crore) to Rs 889 crore for the current quarter vs Rs 686 crore for Q3FY22. Net interest margin stands at 4.32% up 64 bps from 3.68% a year ago. Cost of deposits has increased by 4 bps and stands at 4.26% as compared to 4.22% during the previous year. Yield on advances is at 9.04% (8.42% for Q3FY22). Non-interest income for Q3FY23 is Rs 317 crore as compared to Rs 196 crore a year ago. Fee based income has improved by Rs 22 crore and stood at Rs 184 crore from Rs 162 crore during the previous year. Operating expenses for Q3FY23 was Rs 517 crore as compared to Rs 481 crore during Q3FY22. Cost to income ratio stands at 42.9% (54.5% for Q3FY22). 9MFY23 vs 9MFY22: Net profit for the period registered a robust growth of 67% and stood at Rs 768 crore from Rs 460 crore during the corresponding period of previous year. PPOP for the period is at Rs 1,737 crore, as compared to Rs 1,189 crore for the corresponding period of the previous year. Net interest income for the nine months increased by 22.5% to Rs 2,456 crore vs Rs 2,005 crore for the corresponding period of FY22. Net interest margin stands at 4.08% up by 42 bps as compared to 3.66% during the corresponding period of the previous year. Cost of deposits has improved by 21 bps and stands at 4.14% as compared to 4.35% during the corresponding period of previous year. Yield on advances grew to 8.63% by 10 bps as compared to 8.53% during the corresponding period of the previous year. Commission and fee based income has improved by 20.6% on YoY basis to Rs 545 crore from Rs 452 crore for the corresponding period of the previous year. Operating expenses for the period was Rs 1,477 crore as compared to Rs 1,380 crore during the corresponding period of FY22. Result PDF24-01-2023
KARUR VYSYA BANK LTD. - 590003 - Results Press Release for December 31, 2022
Karur Vysya Bank Ltd has informed BSE about : 1. Result Press Release for the period ended December 31, 202224-01-2023
KARUR VYSYA BANK LTD. - 590003 - Audio Recording of the Conference Call
Karur Vysya Bank Ltd has informed BSE regarding "Audio Recording of the Conference Call held with respect to the Unaudited Financial Results of the Bank for the Quarter and Nine Months ended December 31, 2022".24-01-2023
Karur Vysya Bank Q3 profit surges 56% to Rs 289 cr on decline in bad loans
Karur Vysya Bank on Monday reported a 56 per cent jump in profit at Rs 289 crore for the quarter ended December 2022, helped by a rise in interest income and decline in bad loans. Its net profit stood at Rs 185 crore in the same quarter of the preceding financial year. Total income increased to Rs 2,013 crore in the quarter from Rs 1,600 crore in the year-ago period, the old generation private sector bank said in a regulatory filing. At the same time, interest income rose to Rs 1,695 crore as against Rs 1,405 crore in the same quarter a year ago. On the asset quality front, the bank recorded an improvement with gross NPAs (Non-Performing Assets) declining to 2.66 per cent as compared to 6.97 per cent at the end of the third quarter of 2021-22. Net NPAs too eased to 0.89 per cent from 2.55 per cent. Despite a decline in bad loans, provision and contingencies increased more than two-fold to Rs 364 crore as against Rs 146 crore in the same period a year ago. The capital adequacy ra23-01-2023
KARUR VYSYA BANK LTD. - 590003 - Investor Presentation
Karur Vysya Bank Ltd has submitted to BSE a copy of Investor Presentation on the Unaudited Financial Results of the Bank for the Quarter & Nine months ended December 31, 2022.23-01-2023
KARUR VYSYA BANK LTD. - 590003 - Allotment of Equity Shares under Employee Stock Option Schemes
Karur Vysya Bank Ltd has informed BSE regarding "Allotment of Equity Shares under Employee Stock Option Schemes".23-01-2023
KARUR VYSYA BANK LTD. - 590003 - Re-Appointment of Managing Director and CEO
Karur Vysya Bank Ltd has informed BSE regarding "Re-Appointment of Shri. B Ramesh Babu, Managing Director and CEO of the Bank for second term of three years with effect from July 29, 2023."23-01-2023