Vijaya Bank Records Full Year Net Profit Jump of 5.65% in 2014-15

Vijaya Bank, a leading PSU Bank has reported the full year net profit jumped by 5.65 per cent to Rs 439.41 crore as compared to Rs 415.91 crore for the previous year ended March 31, 2014. Its total income has increased by 15.21% to Rs 13152.49 crore for the year from Rs 11416.42 crore for the year ended March 31, 2014.

Announcing the financial results, Kishore Kumar Sans, MD & CEO of Vijaya Bank Ltd said that, for the full year net profit jumped by 5.65 per cent to Rs 439.41 crore. 

Sansi said the quarterly drop in net profit is on account of making provision of Rs 208 crore towards increase in salaries arising out of the tenth bipartite settlement with Indian Bank Association. 

However, the bank recorded a 28.7 per cent fall in its March quarter net profit at Rs 96.80 crore owing to a one-time provision of Rs 208 crore for salary increase. 

Sansi said the quarterly drop in net profit is on account of making provision of Rs 208 crore towards increase in salaries arising out of the tenth bipartite settlement with Indian Bank Association. 

For the full financial year, total income increased to Rs 13,152.49 crore from Rs 11,416.42 crore last year, he said. 

On year-on-year business of the bank, Sansi said the total business for the period ended March 31, 2015 registered a growth of 3.54 per cent and increased to Rs 2,14,035 crore from Rs 2,06,721 crore as of March 31, 2014,  said Sansi. 

Sansi said the bank found MMSE and MSE communities as the best industry sectors with a 12 per cent ROI for the last financial year.

Vijaya Bank has informed BSE that the Board of Directors of the Bank at its meeting held on May 12, 2015, inter alia, has recommended a Final Dividend of Rs. 1.50/- per share on Equity share capital of the Bank for the Financial Year 2014-2015.