Vijaya Bank - 1QFY2014 Result Preview - Angel Broking

Vijaya Bank is scheduled to announce its 1QFY2014 results today. We expect the bank to report a healthy 15.0% yoy growth in Net Interest Income (NII) to Rs. 523cr. Non-interest income is expected to grow by just 3.3% yoy to Rs. 127cr. Operating expenses are expected to increase by 7.1% yoy to Rs. 341cr. Provisioning expenses are expected to increase by 7.8% yoy to Rs. 141cr, which would aid 11.7% growth in Net profit to Rs. 124cr. At the CMP, the stock is trading at 0.4x FY2015E ABV. We maintain our Neutral recommendation on the stock.

Source : Equity Bulls

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