Highlights of business performance for the period ended 31.12.2021
- Total business as of 31.12.2021 stands at Rs. 122,664 crore, registering a Y-o-Y growth of 7.4% (Rs. 8,462 crores) from Rs. 1,14,202 crore as on 31.12.2020. Total business stood at Rs. 1,16,098 crore as on 31.03.2021.
- Total deposits grew by Rs. 4,782 crore (7.7%) to Rs. 66,871 crore, up from Rs. 62,089 crore as of 31.12.2020.
- CASA share is up at 36% from 35% a year ago. CASA deposits have grown by 12.2% on a Y-o-Y basis to Rs. 24,128 crore as of 31.12.2021 (Rs. 21,500 crores a year ago).
- Gross advances grew by 7.1% Y-o-Y (Rs. 3,680 crores) and stands at Rs. 55,793 crore as of 31.12.2021, up from Rs. 52,113 crore a year ago.
- Improved off-take by retail and business segment clientele as well as a robust jewel loan portfolio aided the credit growth during this period. The growth was facilitated through digital processing and improved sourcing through various channels.
- Jewel Loan portfolio registered a Y-o-Y growth of Rs. 1,649 crore (13.7%) and stands at Rs. 13,718 crore as of 31.12.2021.
- As of 31.12.2021, Gross NPA has declined by 40 bps to 6.97% (Rs. 3,888 crores) as compared to 7.37% (Rs. 3,842 crores) a year ago. GNPA as of 31.03.2021 was Rs. 4,143 crores (7.85%).
- Net NPA stands Rs. 1,356 crore i.e. 2.55% as on 31.12.2021. NNPA was at 3.41% (Rs. 1,719 crore) as on 31.03.2021.
- Provision Coverage Ratio stands at 78.81% (77.35% a year ago).
- Basel III CRAR stands at 18.79% (with a CET1 Ratio of 16.76%), up from 18.52% as of 31.12.2020.
- Branch and ATM + Cash Recyclers network as on 31.12.2021 stands at 781 & 2,227 respectively.
Financial performance – Quarter ended 31st December 2021
- Net profit for the quarter registered a substantial growth and stood at Rs. 185 crore up from Rs. 35 crore during Q3 of the previous year.
- Operating profit for the quarter stood at Rs. 402 crore – up by Rs. 133 crores from Rs. 269 crore for Q3 of the previous year.
- Net interest income for the quarter improved by 18% (Rs. 103 crores) to Rs. 687 crore for the current quarter vis-à-vis Rs. 584 crore for Q3 of FY 2020-21.
- The net interest margin stands at 3.68%.
- The cost of deposits has reduced by 58 bps to 4.22% compared to 4.80% during the previous period.
- The yield on advances is at 8.42% (8.66% for Q3 of the previous year).
- Non-interest income (excluding treasury profit) improved to Rs. 209 crore for the quarter as compared to Rs. 197 crore during the previous period
- Operating expenses for the quarter were lower at Rs. 481 crore (Rs. 578 crore during Q3 of FY 2020-21).
Financial performance – nine months ended 31st December 2021
- Net profit for the period rose by 80.4% (Rs. 205 crores) and stood at Rs. 460 crore from Rs. 255 crore during the corresponding period of the previous year.
- Operating profit for the period up by Rs. 100 crore to Rs. 1,189 crore, from Rs. 1,089 crore for nine months of the previous year.
- Net interest income for nine months increased by 15% to Rs. 2,005 crore vis-à-vis Rs. 1,747 crore for nine months of FY 2020-21.
- Net interest margin up by 29 bps to 3.66%.
- The cost of deposits has improved by 72 bps and stands at 4.35% as compared to 5.07% during the previous year.
- The yield on advances is at 8.53% as compared to 9.07% during the nine months of the previous year.
- Commission and fee income has improved by 16% (Rs. 61 crores) on a Y-o-Y basis to Rs. 452 crore from Rs. 391 crore during the previous year.
- Operating expenses for the period was lower at Rs. 1,380 crore as compared to Rs. 1,407 crore during nine months of FY 2020-21.