Karur Vysya Bank Q1 Business Update: Total Business Jumps 15.2%; Shares Gain

Karur Vysya Bank Ltd.'s total business grew in the first quarter of fiscal 2025, aided by a rise in deposits and advances.

The Karur-based lender's total business rose 15.2% year-on-year to Rs 1.7 lakh crore in the quarter ended June 2024, according to an exchange filing.

During the same period, total current account saving account, or CASA, rose 5.6% year-on-year to Rs 28,042 crore.

The lender's total deposits grew 14.4% to Rs 92,349 crore, while advances rose 16.1% to Rs 77,709 crore compared to the same period last year.

Karur Vysya Bank has set a target to open 100 new branches across the country during the current financial year.

Shares of the company rose as much as 2.58%, before paring gains to trade 0.76% higher at Rs 208.3 apiece, compared to a 0.52% advance in the benchmark Nifty 50 as of 1:48 a.m.

The stock has risen 62% in the last 12 months and 23% year-to-date. The relative strength index was at 54.

All 12 analysts tracking the bank have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 11%.