Vijaya Bank NIMs at 2.08%; sees Q4 NII NIMs improving

In an interview to CNBC-TV18, Upendra Kamath, chief managing director, Vijaya Bank gives his views on the bank's Q3 performance . The bank's net profit rose marginally to Rs 127 crore in the third quarter of financial year 2012-13 from Rs 124 crore in a year ago period.

Kamath says, despite the Q3's net interest margins (NIMs) at 2.08%, he expects a better NIM and net interest income (NII) in Q4.

On Q3's slippages of Rs 304 crore, Kamath says, " We have already recovered, upgraded and written off little more than Rs 304 crore and therefore resultantly the gross NPA numbers have come down to Rs 1,889 crore compared to the opening stock of Rs 1,897 crore."

Below is the edited transcript of Kamath's interview to CNBC-TV18.

Q: Asset quality pressure as far as the gross Non-Performing Asset (NPA) level goes seems to have eased significantly. Give us the details of the slippages this quarter. You have reported around Rs 343 crore of slippages this quarter.

A: The total slippages this quarter is of the order of Rs 304 crore in Q3, but we have already recovered, upgraded and written off little more than Rs 304 crore and therefore resultantly the gross NPA numbers have come down to Rs 1,889 crore compared to the opening stock of Rs 1,897 crore. In terms of percentage, the gross NPA has come down from 3.17 percent to 2.91 percent and the net NPA has come down from Rs 1,116 crore in September to Rs 1,098 crore in December 2012. In percentage terms net NPA has come down from 1.90 percent to 1.71 percent.

More to come.

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