Q1 2025 Karur Vysya Bank Ltd Earnings Call Transcript
Key Points
- Karur Vysya Bank Ltd (BOM:590003) reported a strong start to FY25 with consistent and inclusive performance.
- The bank's total business grew by 4% to INR1,70,059 crore as of June 30, 2024.
- Retail advances grew by 7% QoQ, driven by jewel loans, mortgages, and personal loans.
- Net Interest Margin (NIM) remained strong at 4.13%, with expectations to maintain above 4% in the next quarters.
- Gross NPA reduced to 1.32%, with net NPA at 0.38%, indicating improved asset quality.
- Corporate book saw a decline of 2% during the quarter due to lower disbursements and repayments.
- Cost of deposits increased by 12 basis points sequentially, indicating rising funding costs.
- The bank's operating expenses grew by 4% sequentially, impacting the cost-to-income ratio.
- There was a significant increase in tax provisions, impacting net profit margins.
- The bank faces challenges in deposit growth due to competitive pressures and other opportunities available for depositors.
Ladies and gentlemen, good day, and welcome to the Q1 FY25 earnings conference call of the Karur Vysya Bank. We have with us today the management team of KVB represented by Mr. Ramesh Babu, MD and CEO; Mr. Natarajan, Executive Director; Mr. Chandrasekaran, Chief Operating Officer and Mr. Ramshankar, CFO.
(Operator instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. B Ramesh Babu, Managing Director and CEO, to take us through the highlights of the quarter gone by after which we will open the floor for questions. Over to you sir.
Thank you, Sagar. Good evening to all of you. On behalf of Karur Vysya Bank, I welcome you all for our banks earning call for quarter one of the financial year 2025, we trust that you, your colleagues and family members are keeping well and are in good health. We uploaded our financial results along with the presentation on our website. And I hope you have had a chance to go
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