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Karur Vysya Bank Limited (KARURVYSYA)

₹355.65 +2.89% last close, 16 Oct

📊 NSE: KARURVYSYA 🏢 Banks - Private Sector 📢 Latest filing: 15 Oct 2026 📝 Analysis written: 14 Dec 2025

Q2 FY27 results

Karur Vysya Bank Limited reported Q2 FY27 results on 15 Oct 2026: net interest income ₹1,497 Cr (+18.7% year on year, +5.2% on the previous quarter), and net profit ₹788 Cr (+37.2% year on year).

Q2 FY27 (₹ Cr)	Value	YoY vs Q2 FY26	QoQ
Net interest income	₹1,497	+18.7%	+5.2%
Operating profit	₹1,162	+14.2%	+6.1%
Net profit	₹788	+37.2%	+4.2%
EPS (₹)	8.15	+37.2%	+4.2%
Gross NPA	0.69%	—	—

Profit growth came mainly from lower provisions (pre-provision profit +14%)

Against its own trend: net profit of ₹788 Cr was -2.1% against the ₹804 Cr its recent growth pointed to (in line). This is a statistical baseline, not an analyst estimate.

Share price since the results: +4.2% (close before the filing to the latest close).

Full quarterly financials → Margins & quality of profit → All Q2 FY27 results → Results calendar →

KARURVYSYA delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 18.29% of the KARURVYSYA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 52.93%. The price rose 2.89% on unusually low delivery, so more of the move than usual was intraday trading. It traded 8.3 times its average daily volume.

18.29%Delivery, 16 Oct

52.93%Own 20-session average

8.3×Volume vs its average

₹355.65NSE close · +2.89%

Delivery in the last 5 sessions: 45.8% · 46.8% · 59.0% · 33.8% · 18.3%

Delivery across the market →Unusual volume today →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Karur Vysya Bank: Ramshankar R Takes Over as COO Following Chandrasekaran M S's Tenure Completion

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 15 Oct 2026, 09:29 PM

Karur Vysya Bank announced that Shri Chandrasekaran M S, Chief General Manager & Chief Operating Officer (Key Managerial Personnel), demitted office on October 15, 2026, upon the completion of his tenure. Incumbent Chief General Manager Shri Ramshankar R will take charge as the new Chief Operating Officer effective October 16, 2026. This planned succession was previously communicated by the bank on June 23, 2026. The transition is routine and ensures continuity in bank operations.

Shri Chandrasekaran M S demitted office as CGM & COO on October 15, 2026, upon completion of term
Shri Ramshankar R, incumbent CGM, takes charge as COO effective October 16, 2026
Transition follows prior communication dated June 23, 2026
Change affects Key Managerial Personnel (KMP) and Senior Management Personnel (SMP) cadres

💡 Monitor upcoming quarterly disclosures to ensure stable execution of operational priorities, including branch expansion and digital rollouts under the new COO.

Karur Vysya Bank Allots 14,442 Equity Shares Under KVB ESOS 2018 Scheme

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 15 Oct 2026, 05:34 PM

Karur Vysya Bank has approved the allotment of 14,442 equity shares of face value Rs 2 each to Senior Management Personnel under its KVB ESOS 2018 Scheme. The allotment forms part of the non-cash variable pay component for the FY 2022-23 performance period. The dilution is negligible relative to the bank's total share capital and net worth of Rs 14,108 Cr. The board meeting concluded on October 15, 2026.

Approved allotment of 14,442 equity shares under KVB ESOS 2018 Scheme
Shares have a face value of ₹ 2 each
Allotment is for Senior Management Personnel as non-cash variable pay for FY 2022-23
Board meeting commenced at 12:30 PM and concluded at 4:45 PM on October 15, 2026

💡 Track subsequent quarterly financial results and asset quality metrics; no action is required for routine share allotments under ESOP/ESOS schemes.

Karur Vysya Bank Q2 FY27 Net Profit Up 37.3% YoY to Rs 788 Cr; GNPA at 0.69%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 15 Oct 2026, 04:25 PM

Karur Vysya Bank reported a strong Q2 FY27 financial performance with net profit increasing by 37.28% YoY to Rs 788 crore, compared to Rs 574 crore in Q2 FY26. Total advances grew 20.35% YoY to Rs 1,11,589 crore, driven by 20.00% growth in RAM segments, while total deposits expanded 15.96% YoY to Rs 1,28,123 crore. Net interest income climbed 18.72% YoY to Rs 1,497 crore, with NIM expanding 10 bps YoY to 4.34%. Asset quality remained robust with GNPA improving to 0.69% and NNPA at 0.18%, backed by a high Provision Coverage Ratio of 96.13%.

Net profit grew 37.28% YoY to Rs 788 crore for Q2 FY27 (Rs 1,543 crore for H1 FY27, up 40.91% YoY)
Gross advances grew 20.35% YoY to Rs 1,11,589 crore, while deposits rose 15.96% YoY to Rs 1,28,123 crore
Net Interest Margin (NIM) reached 4.34%, up by 10 bps YoY from 4.24% in Q2 FY26
Asset quality improved with GNPA at 0.69% (down 5 bps QoQ) and NNPA at 0.18% with 96.13% PCR
Capital Adequacy Ratio (CRAR) strengthened to 17.97% with Tier 1 capital at 17.32%

💡 Track sustaining NIM levels around 4.3% in subsequent quarters and observe whether deposit growth keeps pace with ~20% loan growth without compressing margins.

Karur Vysya Bank Q2 FY27 Net Profit Rises 37% YoY to ₹788 Cr; NIM at 4.26%

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 15 Oct 2026, 03:42 PM

Karur Vysya Bank reported a strong Q2 FY27 performance, with net profit increasing 37% YoY to ₹788 crore and Net Interest Income rising 19% YoY to ₹1,497 crore. Advances grew 20% YoY to ₹1,11,589 crore, while deposits expanded 16% YoY to ₹1,28,123 crore. Asset quality remained robust with Gross NPA declining to 0.69% and Net NPA at 0.18%, backed by a provision coverage ratio of 96.13%. Return on Assets (ROA) stood at 2.10% and Return on Equity (ROE) reached 20.47% for the quarter.

Q2 FY27 Net Profit grew 37% YoY to ₹788 Cr (up 4% QoQ)
Net Interest Margin (NIM) sustained at 4.26%, expanding 44 bps YoY
Gross NPA improved to 0.69% (down 7 bps YoY) and Net NPA stood at 0.18%
Total advances rose 20% YoY to ₹1,11,589 Cr; deposits increased 16% YoY to ₹1,28,123 Cr
Capital Adequacy Ratio (CRAR) remained comfortable at 17.97% with Tier I at 17.32%

💡 Track margin trajectory and deposit cost movements in subsequent quarters, particularly CASA growth trends relative to advances growth.

Karur Vysya Bank Partners with Zurich Kotak General Insurance for Product Distribution

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Oct 2026, 04:27 PM

Karur Vysya Bank has entered into a bancassurance agreement with Zurich Kotak General Insurance Co. Ltd on October 12, 2026. Under this partnership, the bank will distribute general insurance products across its customer base. The transaction was conducted in the ordinary course of business as part of its regular customer service activities. Financial terms and revenue-sharing details were not disclosed in the filing.

Agreement executed on October 12, 2026
Bancassurance partnership signed with Zurich Kotak General Insurance Co. Ltd
Intended to distribute general insurance products to the bank's customers across its network (841 branches as of Sept 2024)
Financial terms, commissions, and revenue targets not disclosed

💡 Track the contribution of third-party distribution fees within other income in upcoming quarterly financial results.

Karur Vysya Bank hikes External Benchmark Rate (EBR-R) by 25 bps to 8.80%

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 07 Oct 2026, 07:09 PM

Karur Vysya Bank has revised its External Benchmark Rate - Repo linked (EBR-R) upward by 25 basis points from 8.55% to 8.80%. The revised lending benchmark rate takes effect from October 8, 2026. This adjustment affects floating-rate loans tied to the repo rate, potentially expanding lending yields on reset. It follows routine periodic adjustments aligned with benchmark interest rate movements.

External Benchmark Rate - Repo linked (EBR-R) revised to 8.80% from 8.55%
Quantum of rate hike stands at 25 basis points (0.25%)
Effective date for revised EBR-R is October 8, 2026

💡 Track the upcoming quarterly earnings to observe the transmission effect on Net Interest Margins (NIM) and advance yields versus rising deposit costs.

Karur Vysya Bank Submits Reg 74(5) Demat Certificate for Quarter Ended Sep 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 06 Oct 2026, 07:24 PM

Karur Vysya Bank Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The bank's Registrar and Share Transfer Agent, MUFG Intime India Private Limited, confirmed that securities received for dematerialization between July 1, 2026, and September 30, 2026, were processed, mutilated, and cancelled within stipulated timelines. The filing is an administrative regulatory requirement and carries no financial or operational impact.

Covers the dematerialization period from 01.07.2026 to 30.09.2026
Confirmation issued by Registrar MUFG Intime India Private Limited on 03-10-2026
Filing submitted to the stock exchange on 06.10.2026 under Regulation 74(5)

💡 No action required. Investors should look out for upcoming Q2 FY27 earnings announcements for operational and financial performance updates.

Karur Vysya Bank Q2 FY27 Updates: Total Business Up 17.96% YoY to ₹2,39,710 Cr

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 01 Oct 2026, 01:53 PM

Karur Vysya Bank released provisional business figures for the quarter ended September 30, 2026. Total business increased 17.96% YoY to ₹2,39,710 crore, driven by strong 20.34% YoY credit growth to ₹1,11,587 crore. Total deposits expanded 15.96% YoY to ₹1,28,123 crore, with CASA deposits growing 15.41% YoY to ₹35,265 crore. On a sequential basis, advances grew 6.60% and deposits rose 4.52%.

Advances grew 20.34% YoY to ₹1,11,587 crore (up 6.60% QoQ)
Total deposits grew 15.96% YoY to ₹1,28,123 crore (up 4.52% QoQ)
Total business rose 17.96% YoY and 5.48% QoQ to ₹2,39,710 crore
CASA deposits increased 15.41% YoY to ₹35,265 crore

💡 Track the full Q2 financial results for net interest margin (NIM) trajectory and asset quality metrics, following healthy advance growth.

ICRA Reaffirms Karur Vysya Bank's 'ICRA A1+' Rating for Rs 12,000 Cr CD Programme

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 25 Sep 2026, 12:10 PM

Karur Vysya Bank has received a credit rating reaffirmation from ICRA on September 25, 2026. ICRA reaffirmed its highest short-term rating of 'ICRA A1+' for the bank's Rs 12,000 Cr Certificate of Deposit (CD) programme. The programme size represents approximately 85% of the bank's net worth of Rs 14,108 Cr. The reaffirmation indicates a very strong degree of safety regarding timely payment of short-term financial obligations.

ICRA reaffirmed the credit rating at 'ICRA A1+'
Rating applies to Certificate of Deposit Programme of Rs 12,000 Cr
Intimation received and filed on September 25, 2026
CD Programme size equals ~85.1% of the bank's net worth (Rs 14,108 Cr)

💡 Track quarterly liability management, cost of funds, and the bank's ability to maintain high-quality liquidity coverage ratios alongside credit growth.

Karur Vysya Bank Expands Branch Network to 921 With Two New Openings in Tamil Nadu

🟡 NEUTRAL ⭐ 3/10

EXPANSION 📅 23 Sep 2026, 03:36 PM

Karur Vysya Bank announced the opening of its 920th and 921st branches at P N Pudur (Coimbatore) and Labbaikudikadu (Perambalur district) in Tamil Nadu. The bank reported that its total business reached ₹2,27,267 crore as of June 30, 2026, comprising ₹1,22,587 crore in deposits and ₹1,04,680 crore in advances. Additionally, the bank highlighted a record net profit of ₹756 crore for Q1FY27. These branch additions represent incremental footprint growth in its core home market.

Opened 920th branch in P N Pudur, Coimbatore, and 921st branch in Labbaikudikadu, Perambalur
Total branch count expanded to 921 alongside 2,169 ATMs and cash recyclers as of June 30, 2026
Total business stood at ₹2,27,267 crore (deposits ₹1,22,587 crore, advances ₹1,04,680 crore) as of June 30, 2026
Reported record quarterly net profit of ₹756 crore for Q1FY27

💡 Track the pace of liability growth and CASA accretion from new branches in upcoming quarterly updates, especially in maintaining credit-to-deposit balance.

Karur Vysya Bank Hikes MCLR by 5 bps, Base Rate and BPLR by 20 bps Effective Sept 22, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 19 Sep 2026, 07:27 PM

Karur Vysya Bank has revised its Marginal Cost of Funds Based Lending Rates (MCLR) upward across all tenors by 5 basis points (0.05%), effective September 22, 2026. The 1-year MCLR moves from 9.40% to 9.45%, while the overnight and 1-month MCLRs rise from 9.00% to 9.05%. In addition, the Base Rate has been hiked by 20 bps to 11.20% and the Benchmark Prime Lending Rate (BPLR) increased by 20 bps to 16.20%. These upward adjustments reflect periodic asset repricing to align with funding costs.

1-year MCLR raised by 5 bps from 9.40% to 9.45%
Overnight and 1-month MCLR revised up by 5 bps to 9.05% from 9.00%
Base Rate increased by 20 bps to 11.20% from 11.00%
BPLR hiked by 20 bps to 16.20% from 16.00%
Revised rates are effective starting September 22, 2026

💡 Track the bank's net interest margin (NIM) trends in subsequent quarterly results to assess if asset repricing offsets deposit cost pressures.

Karur Vysya Bank Assigned ESG Rating of 76.74 for FY26 by Niche99 ESG Ratings

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 15 Sep 2026, 07:43 PM

Karur Vysya Bank informed stock exchanges that M/s. Niche99 ESG Ratings, a SEBI registered Category II ESG Rating Provider, assigned an ESG rating of 76.74 to the bank for FY 2025-26. The bank stated it did not engage the agency directly; the rating was determined independently based on publicly available information and disclosures. This is an informational disclosure under SEBI Regulation 30 and has no direct impact on financial operations or credit profile.

M/s. Niche99 ESG Ratings assigned an ESG score of 76.74 to Karur Vysya Bank for FY 2025-26.
Rating agency operates as a SEBI-registered Category II ESG Rating Provider (ERP).
The rating was independently determined from public disclosures; the bank did not formally mandate or engage the agency.

💡 Track upcoming quarterly financial earnings and progress on core credit metrics, as this third-party ESG score does not impact bank operations or earnings.

UFBU Calls One-Day Strike on September 11, 2026; Branch Operations May Be Affected

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 10 Sep 2026, 04:15 PM

Karur Vysya Bank has informed the exchanges that the United Forum of Bank Unions (UFBU) has issued a call for a one-day strike on Friday, September 11, 2026. Both the Officers Association and Workmen Union of the bank are affiliated with UFBU and may participate. If materialized, normal operations across the bank's network of over 840 branches could be impacted for the day. The bank stated that the expected quantum of loss or damage and operational impact are not quantifiable at this stage.

UFBU called for a nationwide strike on Friday, 11th September 2026
Officers Association and Workmen Union of Karur Vysya Bank are affiliated with UFBU
Normal functioning of branches and offices may be temporarily impacted
Quantum of financial loss or operational damage is not quantifiable as per the filing

💡 Monitor whether digital banking channels remain fully operational and if the one-day strike resolves without further escalated industrial actions.

Karur Vysya Bank Concludes Institutional Investor Meet at Elara India Dialogue 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 03 Sep 2026, 09:22 PM

Karur Vysya Bank participated in the 'Twelfth Edition of Ashwamedh – Elara India Dialogue 2026 - Investors Conference' on September 3, 2026. The bank was represented by Executive Director Shri B Sankar and Chief Financial Officer Shri G V Ramaswamy in group and one-to-one interactions. The bank confirmed that only publicly available information was discussed and no Unpublished Price Sensitive Information (UPSI) was shared.

Participated in the Twelfth Edition of Ashwamedh – Elara India Dialogue 2026 on September 3, 2026
Represented by Executive Director Shri B Sankar and CFO Shri G V Ramaswamy
Engaged in physical group meets and one-to-one investor meetings
Confirmed no Unpublished Price Sensitive Information (UPSI) was disclosed

💡 This is a routine post-meeting disclosure; investors should track upcoming quarterly financial results for operational performance and loan growth updates.

Karur Vysya Bank Grants 60,140 ESOP Options to MD & CEO and ED at Rs 346.60

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 03 Sep 2026, 08:43 PM

Karur Vysya Bank's Nomination and Remuneration Committee approved the grant of 60,140 stock options under the KVB ESOS 2018 Scheme on September 3, 2026. The allocation includes 46,018 options to Managing Director & CEO B Ramesh Babu and 14,122 options to Executive Director B Sankar. The options are priced at Rs 346.60 per share (NSE closing price on September 2, 2026) as part of their RBI-approved non-cash variable compensation for FY 2025-26. Vesting will occur in three tranches: 33.33% in year one, 33.33% in year two, and 33.34% in year three.

46,018 options granted to MD & CEO Shri B Ramesh Babu
14,122 options granted to Executive Director Shri B Sankar
Grant price set at Rs 346.60 per option (closing price as of September 2, 2026)
Vesting schedule: 33.33% after 1 year, 33.33% after 2 years, and 33.34% after 3 years

💡 No action needed on this routine compensation filing; continue monitoring quarterly loan growth and asset quality trends.

View All KARURVYSYA Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total business reached INR 2,03,216 Cr in Q2 FY26, growing 15% YoY. RAM (Retail, Agri, MSME) verticals grew 19% YoY, while Corporate banking grew 7% YoY. Within RAM, Retail advances increased 7% QoQ, and Commercial business grew 3% QoQ.

Geographic Revenue Split

The bank exhibits high geographic concentration with over 80% of its 841 branches located in South India, primarily in Tamil Nadu (Karur), Andhra Pradesh, and Telangana.

Profitability Margins

Net profit for Q2 FY26 was INR 574 Cr, up 17% YoY. Return on Assets (RoA) stood at 1.81% in Q2 FY26, exceeding the guided range of 1.55%-1.65%. Net Interest Margin (NIM) was 3.5% in Q1 FY26, down from 3.8% in FY25 due to rising deposit costs.

EBITDA Margin

Operating profit for Q2 FY26 was INR 1,017 Cr, a 25% increase YoY. The cost-to-income ratio for H1 FY26 was 44.76%, well within the management's guided limit of 50%.

Capital Expenditure

The bank opened 7 branches in H1 FY26 and plans to open 21 more in the current fiscal year. Investments are being directed toward 'KVB Neo' for fintech partnerships and digital transformation.

Credit Rating & Borrowing

CRISIL reaffirmed 'CRISIL A1+' for Certificate of Deposits (INR 5,000 Cr). ICRA maintains a stable outlook, noting that a fall in Tier I capital cushion below 3% or RoA below 1.0% would be negative triggers.

⚙️ Operational Drivers

Raw Materials

Cost of Funds (5.61% in FY25), Yield on Funds (8.93% in FY25), and Yield on Advances (10.15% in FY25).

Import Sources

Not applicable for banking operations; funds are sourced domestically from retail and institutional depositors.

Key Suppliers

Not applicable; the bank relies on a retail resource profile and institutional depositors for its 'raw material' (capital).

Capacity Expansion

Current network of 841 branches (as of Sept 2024) with a planned expansion of 21 additional branches in FY26 to deepen market penetration.

Raw Material Costs

Interest expenses on deposits are the primary cost. Term deposits grew 20% YoY to INR 74,246 Cr in FY25, while CASA grew only 3% to INR 27,832 Cr, increasing the overall cost of funds.

Manufacturing Efficiency

Credit-to-Deposit (CD) ratio remained stable at 83.91% in Q2 FY26. SMA 30-plus levels improved significantly, dropping from 0.6% to 0.27% QoQ.

Logistics & Distribution

Distribution is handled through 841 physical branches and digital channels like KVB Neo and fintech partnerships.

📈 Strategic Growth

Expected Growth Rate

15%

Growth Strategy

The bank aims to achieve 15% growth by focusing on RAM segments (86% of business), scaling the 'KVB Neo' digital platform, and targeting INR 600 Cr in annual recoveries from written-off accounts. It is also expanding its branch network by 21 units and utilizing a new jewel loan sales team.

Products & Services

Jewel loans (91% of agri portfolio), mortgage loans, BNPL loans, commercial business banking (INR 5-25 Cr ticket size), and retail deposits.

Brand Portfolio

Karur Vysya Bank, KVB Neo, KVB Bhoomi Project.

New Products/Services

Expansion of BNPL loans during festival seasons and new fintech-led lending products through the Neo platform.

Market Expansion

Planned opening of 21 new branches in FY26, focusing on deepening the South India presence while selectively expanding in other regions.

Market Share & Ranking

Market share of 0.45% in total advances and 0.44% in deposits as of March 31, 2024.

Strategic Alliances

Partnerships with fintech companies and OEMs for Supply Chain Finance (SCF) and a meal program partnership with Akshaya Patra Foundation.

🌍 External Factors

Industry Trends

The industry is shifting toward digital-first banking and fintech collaborations. KVB is positioning itself through 'Neo' to leverage technology for customer acquisition and automated data flow for SCF.

Competitive Landscape

Faces intense competition from larger private banks and SFBs, particularly in housing and vehicle loans where KVB is currently 'lying low' due to low yields.

Competitive Moat

The bank's moat lies in its 100-year-old brand heritage in South India and its strong retail resource profile. Sustainability is supported by a healthy CRAR of 16.58% and a low Net NPA of 0.19%.

Macro Economic Sensitivity

Sensitive to RBI interest rate cycles; a shift to a neutral stance reduced treasury income. Favorable monsoons are expected to drive growth in the agri-jewel loan segment.

Consumer Behavior

Increasing demand for digital self-service and festival-linked credit, as seen in the uptick in BNPL loans during Dussehra and Diwali.

Geopolitical Risks

Minimal direct exposure; management confirmed that U.S. market exposure and potential tariffs do not significantly impact the loan portfolio.

⚖️ Regulatory & Governance

Industry Regulations

Compliant with RBI's LCR requirement (>100%) and Basel III CRAR (16.58%). Following SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/97 for physical share transfers.

Environmental Compliance

Assigned a 'CRISIL ESG 68' rating for FY 2024-25 performance.

Legal Contingencies

The bank opened a 'Special Window for Re-lodgement of Transfer Requests of Physical Shares' to resolve legacy shareholding issues as per SEBI mandates.

⚠️ Risk Analysis

Key Uncertainties

Potential for further corporate slippages (INR 350 Cr fresh slippages in Q2 FY26) and the impact of ECL (Expected Credit Loss) provisioning implementation on future ROA.