Vijaya Bank earns 173.49 crore rupees in 3 months.

8:51 PM, Friday, July 23rd, 2010
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Mangalore : When the nationalized banks earn profits in huge amounts over Rs.100 crores nett, does it mean poverty is on the rise? Banks’ margin of income is on interests on loans and deposits. They never offer loans more than 60% – 70% of their clients’ Deposits and savings. The loan interest has come down considerably these days, and banks take up other works than what was pure banking , taking deposits with one hand and giving loans at higher (interest) rate on the other hand.
Since nationalization, Vijaya bank has grown considerably. What was started as Bunt’s Bank way back in Mangalore and was in ‘D’ class, it has grown after the Head office shifted to Bangalore and a ten-storey building near Trinity Church on MG Road attracted people considerably. This year in its first quarter of 2010-11, Vijaya Bank has made Rs 173.49 crores as net profit. It is no longer in the hands of Bunts and the present chairman / MD is Albert Tavaro.
A new ATM centre has been opened in Urwa Market  Patrika Bhawan building today at 10 Am by Bank’s executive director, Ms. Shubhalkshmi A. Panase, with Shanti V. Mallar, DGM Mangalore region and Kamalaksha, senior Branch Manager at the Ashokanagar branch close by, attending the inaugurated function on July 23.

                                   

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