Karur Vysya Bank Ltd.'s advances increased in the second quarter of fiscal 2024.
The Tamil Nadu-based commercial bank's advances rose 15.32% year-on-year to Rs 70,446 crore in the quarter ended September, according to provisional results. Total deposits grew by 13.17% year-on-year to Rs 83,068 crore, the bank said in an exchange filing on Sunday.
CASA deposits also rose 3.4% year-on-year to Rs 26,795 crore.
The private lender's total business grew 14.15% over the past year to Rs 1,53,514 crore.
Shares of Karur Vysya Bank rose 1.96% before paring gains to trade 1.12% higher at 11:36 a.m. This compares to a 0.59% decline in the NSE Nifty 50.
All 12 analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 19.1%.
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