Karur Vysya Bank

Karur Vysya Bank to offer SBI Life Insurance products at its branches

Private sector Karur Vysya Bank has inked a pact with SBI Life Insurance to offer their insurance products to customers at its branches, the bank said on Tuesday. The Tamil Nadu-based bank offers a range of financial services through similar tie-ups with leading service providers. "In an attempt to offer a wider choice to customers in the life insurance sphere, KVB has inked an agreement with SBI Life." the Managing Director and CEO of the bank B Ramesh Babu said. "I am sure that together both of us will be able to provide not just choice but quality options to the customers in the days to come," he said. On the tie-up with Karur Vysya Bank, SBI Life Insurance MD and CEO Mahesh Kumar Sharma, "we look forward to strengthening the financial immunity of Karur Vysya Bank's customers with our life insurance solutions and tech-enabled services." "We are confident that the partnership will further enable us to expand the insurance market across the bank's presence in the country," he add

RBI imposes Rs 30 lakh penalty on Karur Vysya Bank for non-compliance

The RBI on Friday said it has imposed a penalty of Rs 30 lakh on Karur Vysya Bank for non-compliance with certain provisions related to fraud classification and reporting by commercial banks. In a statement, the Reserve Bank said a Select Scope Inspection (SSI) of the bank was conducted by it from February 21, 2022, to March 4, 2022. An examination of the SSI report and all related correspondence pertaining to the same revealed that the bank failed to report a few accounts as frauds to the RBI within a week of the respective Joint Lenders' Forum (JLF) decisions to do so, the central bank said. In furtherance to the same, a notice was issued to Karur Vysya Bank, advising it to show cause as to why a penalty should not be imposed on it for failure to comply with the directions issued by the RBI. After considering the bank's reply, oral submissions and additional submissions made by the bank, the RBI came to the conclusion that the charge of non-compliance with the directions was ...

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 ra

Equity MFs book gains in October winners amid Rs 6,300 cr net purchases

Coal India, HCL Tech and L&T were among the most-sold stocks by domestic funds in October even as they rallied between 10% and 16%

Karur Vysya Bank net profit up 52% at Rs 250 cr in Q2, deposits grow

NPA declines to Rs 2,457 crore, compared to Rs 3,972 crore a year ago

Karur Vysya Bank re-appoints KG Mohan as board member for 3 yrs

Karur Vysya Bank (KVB) on Thursday said it has re-appointed non-executive independent director KG Mohan for three years on its board. The first term of Mohan was completed on October 11, 2022. He was re-appointed by the board in its meeting on September 22, 2022, for the second term of three years with effect from October 12, 2022, as an additional director under the independent category, the bank said in a regulatory filing. Mohan's re-appointment is subject to the bank's shareholders' approval. Shares of KVB were trading at Rs 82.50 apiece on BSE, down by 0.18 per cent from the previous close.

Banks alert customers about mobile banking malware targeting over 200 apps

This malware captures the credentials when users log into their net-banking apps and access bank accounts

RBL, IDBI Bank surge up to 10%; Karur Vysya, Federal Bank hit 52-week highs

Union Bank of India, Bank of India, Canara Bank, Punjab National Bank, Indian Overseas Bank, Uco Bank, Central Bank of India, and Bank of Baroda from the PSUpack were up 2-5%

Karur Vysya Bank's intention is to grow granular: MD & CEO R Ramesh Babu

'Commercial is the next big segment, and also retail. Retail is 23-24 per cent of the portfolio, out of which 50 per cent is home loan and loan against property'

This pvt sector bank from Jhunjhunwala's portfolio has surged 43% in 1 mth

Karur Vysya Bank gained 4 per cent to Rs 63.35 in intra-day trade on Friday to hit its highest level since December 2019

Karur Vysya Bank Q1 net doubles to Rs 229 cr, interest income up 17%

Operating profit for up 15% YoY, major improvement seen in bad loans

RBI approves Meena Hemchandra as part-time chairman of Karur Vysya Bank

Private sector lender Karur Vysya Bank on Tuesday said the Reserve Bank of India (RBI) has approved the appointment of former RBI executive Meena Hemchandra as part-time chairman of the bank

Canara Bank, Karur Vysya raise lending rates ahead of RBI's MPC review

State-owned Canara Bank has raised the marginal cost of funds based lending rate (MCLR) by 0.05 per cent of 5 basis points to 7.40 per cent for one year tenure

Karur Vysya Bank posts 105% rise in net profit to Rs 213 crore in Q4

The bank is expecting a 12 per cent growth on advances and 15 per cent on the CASA front during the current financial year.

Karur Vysya Bank's total business crosses Rs 1.25 trn

While the total deposits of the bank stood at Rs 68,676 cr as on March 31, the total advances was at Rs 58,086 cr, aggregating a total business of Rs 1.26 trn

Karur Vysya Bank Q3 net up four-fold to Rs 185 crore on flattish revenue

Net interest income up 18% to Rs 687 cr; gross NPAs down to 6.97% from 7.37% in the year-ago quarter

Karur Vysya Bank Q3 net profit jumps multi-fold to Rs 185 cr

The bank had registered a net profit of Rs 35 crore in same quarter of the previous year. Sequentially, the profit was up from Rs 165.45 crore in the September 2021 quarter

Karur Vysya Bank to cut base rate, benchmark prime lending rate

Private sector lender Karur Vysya Bank Thursday said it will slash its base rate and benchmark prime lending rate to 7.75 per cent and 12.75 per cent, respectively, with effect from December 15, 2021.

Repayments not an issue, things are back to normal: Karur Vysya Bank CEO

In a Q&A, B Ramesh Babu dwells on the recovery from Covid, implementation of government schemes and the roadmap for the future

Karur Vysya Bank reports 44% jump in net profit to Rs 165 crore in Q2

The south-based lender had posted a net profit of Rs 115 crore in the same quarter a year ago.